Money Lessons That Cash In

Money is something that we are all fascinated by. Once a child knows that money buys the things they love, like candy and toys, they quickly have a desire to learn more about the subject. So, it doesn’t take much for teachers to get their students motivated. Children get a thrill from stacking up their money, and counting the dollars, quarters, nickels, dimes, and pennies, even if it isn't real. All teachers really need to do is give their students started with some interesting money lessons.

There are a variety of ways you can go about teaching the subject. Some teachers opt for the in-class store, or playing games that involve identifying coins. These are all good ways to get students acquainted with money, and the value of each of the denominations.

As an extension, however, you may want to introduce students to the concept of what money can buy. You might want to take students on an imaginary trip to the supermarket where they have to buy the food they need within a certain budget. Or you could have your students choose items from a catalogue, and determine how long it would take them to save up enough money to get the items. No matter how young students are, it’s a good idea to get them thinking about money as something you have to manage.

These lessons help link a study of money to real life examples:

We All Scream for Ice Cream: This lesson attacks the study of money from a variety of angles. Students learn about the value of coins, and the dollar bill. They use interactive websites to count money, and they use drawing programs to create pictures. I thought this lesson was a good way to link technology to math lessons, and it comes with a worksheet called “I Scream for Ice Cream”.

Million Dollar Trip: This lesson has students take a million dollar imaginary trip with their family. I thought this lesson was particularly good because it asks students to do research to complete their trip. They can use travel guides, brochures, or the internet, but they have to write down their various expenses, and keep a running tally. They also have to write a 2-3 page essay about their trip, and complete a spreadsheet. This is a well thought out, and motivating money lesson.

Design a Coin: Students design a state coin, and make it from dough and foil. This lesson gives students a lot of different ways to learn about coins. First, they take a look at the state coins already issued. Then they learn about a specific state. Then they design a coin. The lesson also comes with worksheets, and links to many related topics.

I Have No Money Would You Take Wampum?: In this lesson students learn about the barter system. They listen to a folktale about wampum, learn about its history, and can make a wampum belt. The lesson comes with great links to information about the history of wampum, and gets students  thinking about the concept of money.

What’s My Interest:  Students learn about interest using a jellybean account. They accrue daily interest (jellybeans), and figure out how much they would “earn” by keeping it in the account. As an extension activity, students can  use an imaginary job and salary to calculate the interest they would make if they invested this money.