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16 Fun And Inspirational Ways To Teach Kids About Money

16 Fun And Inspirational Ways To Teach Kids About Money

Being a parent, I find kids are very clued in on what they want, and do not seem the slightest bit concerned that it will involve a monetary cost! What I find even more amusing, is that they have no problem spending our or anyone elses money, but ask them to dig into their savings and I am met with highly indignant faces! Oh yes, before they decide to spend their money, there is deep thought and analysis before a decision is made, and of course the guilt trip I am put on for even suggesting they pay for it themselves, never ceases to amaze me!

Yes, I am a parent who tries to teach my kids about money, but finding fun and inspirational ways to do so, is not always easy, especiallly when dealing with different age groups of kids.

Here are some examples of ways you can teach kids about money.

1. Calculator

Give them a calculator while out shopping, so they can key in the item value and keep you informed of costs on an ongoing basis. Comment on some items so they know what is cheap and what is expensive!

2. Allowances

If you aren’t doing it, just try giving allowances for a few weeks, different allowances for different age groups. Be clear to them that they will get no other money for anything until such a date, so they are in charge of the money they are given. Try giving different amounts starting small and see what their spending pattern is like. See if they spend it all in one go, if spend it on junk food, treats, small toys, books etc. This will give you a baseline to work with. When you have this you will know what areas you need to work with for your child. Of course young children will struggle with this so only use it for kids who understand time and can handle some level of responsibility.

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3. Shopping

Take them shopping with you and ask them to take notice of the prices of different items of the same type. For example how branding, quality, weight, discounts etc work.  Ask them why they think one is cheaper, more expensive, etc just to increase their awareness of cost. Kids get so bored out shopping so keep them involved. It is a great way to learn.

4. Challenges

Set them challenges to work individually or as a team to buy something and come back with the most money. Of couse you will also need to explain about value to them so do this after they understand the concept of shopping covered in the previous point.

5. Coin Game

Play a coin game with them where they need to work out how many small coins equals one bigger one etc. For smaller kids they may need a reminder chart which you can simply be drawn out. This way they will understand that its not just the number of coins that matters but how much each coin is valued at.

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    6. Observe transactions

    Ask them to observe you paying for something and how the transaction goes. whether it is card, cheque or cash transaction. Let them see how each transaction happens. Teach them that money is a form of exchange for a goods or service! Explain the difference to them with examples.

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    7. Banking Experience

    Take them to a bank and show them how it works. Kids love mystery and stories. Explain where the money goes, that is the money that goes back to the bank and the money that comes out from the bank.

    8. Take them to an ATM

    I find this always amuses me, as my kids think its magic that a card just gives me what ever money I ask for. I show them that this really comes from my savings or from a loan but that every time I use the card to take money out what I have left, gets lower and lower.

    9. Brainstorming

    Ask them to think of ways to save more money and get more money. No matter how whacky their ideas may seem, they are thinking it through and that is good. Write down their ideas and try to keep adding to the list. You never know if you may come across a marvelous money saving or money forming idea!

    10. Observation Field Trip

    Take them shopping or simply on a car journey through a commercial area and ask them to look around them and see different ways people are spending money, and on what they are spending, whether it’s gas at the station, taking money from an ATM, carrying packages or groceries, or whether they are doing a task where they will get a monetary payment in return.

    11. Online job chart

    Give them a jobs list at home and allocate different monetary values for different tasks. Be sure to have a value of zero for some tasks which they need to do as part of the normal contribution to the household. This also teches kids about value..

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    12. Money Bingo

    Play money bingo where they need to work out how many coins match a number on a box and who ever gets the most right wins. For this to work they will need to add up the correct number of coins and stack them on each number. Of course you will need large boxes and plenty of space.

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      13. Coin Groupings

      Gather all small coins and ask kids to separate them into the same groups. Ask them to write down how many coins are in each group.  Then involve them in trades to try to get lots of coin mixes of different coins going. The trades need to be for the same monetary value.

      14. Allocation Jars

      Give kids three jars and ask them to label and decorate them as they wish. They should be labeled Spend, Save and Give. As a parent you can either decide what amount of money they have goes into each or encourage your child to think about it and then come to an agreement with them over the distribution of the money. Discuss with them also what each jar represent and what will happen to the money in each jar. Kids love seeing things build up and love to shake the jar or take money out and re-count again. Physically seeing their money will give them a greater awareness of money and how it can be used.

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        15. Coin Rubbing and Tracing

        Do coin rubbing and tracing shapes of different coins. For notes, ask the kids to find as many differences as they can see between the notes. This will increase their power of observation!

        16. World currency

        Encourage them to collect money from around the world and to look up the value of each currency. This is great to let them know about money on a global scale. Open n online converter and show them how to do their own conversions! It will definitely make them think!

        “The easiest way to teach children the value of money is to borrow some from them” – Unknown

        Photocredits: Pinerest-Moneysavingmom, Freehomeschooldeals, Creeksidelearning.

        Featured photo credit: How To Teach Kids Money Skills, by Carissa Rogers, Flikr via flickr.com

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        Last Updated on July 4, 2019

        25 Killer Sites For Free Online Education

        25 Killer Sites For Free Online Education

        Whether you’re five or ninety five, the internet has a lot to offer. Particularly when the topic is education, the resources on the internet are endless.

        Best of all, many high quality sites are completely free. From history to coding, excellent free online education awaits on the following 25 sites.

        1. Coursera

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          Coursera is a website that partners with universities and organizations around the world. This brings a wide variety of topics and perspectives to one searchable database.

          Coursera is a powerful tool for free online education, and includes courses from many top universities, museums and trusts. This gives the site an extremely wide range of in-depth courses.

          Coursera is extremely useful if you’re looking to study many different topics, or want courses from different schools and groups.

          2. Khan Academy

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            Partnering with many post secondary schools, Khan Academy offers a useable, well organized interface. Also curating many courses from around the web, Khan Academy offers impressive depth on many different subjects.

            Among the more well known educational sites, Khan Academy is also incredibly useable, which may make it easier to keep learning goals.

            3. Open Culture Online Courses

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              If you are struggling to find exactly the material you are looking for, try Open Culture’s listing of free online education courses. The page highlights 1000 lectures, videos and podcasts from universities around the world. The site features a lot of material found only on universities private sites, all in easy to browse categories. This means you can find hundreds of university courses, without having to visit and search each university’s own site.

              Open Culture’s list features courses from England, Australia, Wales and many state universities around the United States. A very helpful resource for finding many courses in one area of study.

              4. Udemy 

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                Udemy’s free courses are similar in concept to Coursera’s but additionally allows users to build custom courses from lessons.

                Working with many top professors and schools, the site mixes the customizable platform of other sites with a heavy emphasis on top quality content. This is another site however, that mixes free and paid content.

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                5. Academic Earth

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                  Another site with courses from many different schools is Academic Earth. Much like the three sites above, Academic Earth brings together top notch courses from many different sources, and focuses on offering a wide variety of subjects.

                  Academic Earth lists courses by subject and school, so it might be easier to find what you’re looking for.

                  6. edX

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                    Another great option for free online education is edX. Also bringing together courses from many different schools, the site has impressive, quality information for everyone. edX covers a great range of topics.

                    7. Alison

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                      Unlike the previous sites on this lists, Alison is a free education site offering certification in some areas. Alison offers courses mainly in business, technology, and health, but also includes language learning courses.

                      It’s a great option if users need certification for their learning as Alison also offers school curriculum courses.

                      8. iTunesU Free Courses

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                        A very convenient place for free online education is iTunesU, because it integrates seamlessly with your iPod, or any app-ready Apple mobile device. On iPad, iPhone, or iPod touch, users download the iTunesU app.

                        Desktop users can access  iTunesU on the upper right hand corner of the iTunes Store. iTunesU is also convenient because the store is categorized much like iTunes.

                        Users can search learning materials in many different ways, including genre and topic. However, courses are often a mix of free podcasts or videos, and paid content.

                        ITunesU does include courses on a pretty wide scope of topics, but does not integrate with Android, Google or Windows mobile devices.

                        9. Stanford Online

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                          Your hub for all the online offerings from Stanford University, Stanford Online offers self-paced and session based courses. While Coursera features some courses from Stanford, many classes are only available via other hosts. Some courses require iTunes, but most are completed in your web browser.

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                          Stanford Online is a great site for high quality courses, though the topics are somewhat limited compared to sites partnered with more than one school.

                          10. Harvard Extension

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                            Like Stanford Online, Harvard Extension features free online education courses from Harvard only. This is another excellent source for top notch course material, though the course variety is less rich than multi-school sites.

                            Additionally, Harvard Extension allows you to search for courses by professional certificate. This makes it much easier if your online education goal includes certification.

                            11. Open Yale Courses

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                              Open Yale Courses echoes Harvard Extension and Stanford Online, in that it offers only courses from Yale. While the site is similarly limited to topics taught at the school, Open Yale Courses offers a lot of videos of actual campus lectures. The availability of videos makes the site a great option if you’re looking for quality courses, but learn better by watching than by reading.

                              12. UC Berkeley Class Central

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                                Much like the other schools on this list, UC Berkeley has a variety of free online education options. The school has slightly fewer courses than the schools above, but includes some supplementary lectures, webcasts and RSS Feeds, making it easy to keep up with the topics you choose.

                                13. MIT OpenCourseWare

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                                  Similarly, MIT offers a variety of free courses. The school has a comparable number of courses to the schools above, plus includes very in-depth course materials on the subjects available. MIT also offers free RSS feeds, a convenient way to continue learning.

                                  14. Carnegie Mellon Open Learning Initiative

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                                    Carnegie Mellon’s free online education site is comparable with the other school’s on this list, however, Open Learning Initiative also covers a smaller range of topics. But for the topics that are covered impressive, in-depth material is available.

                                    15. Codecademy

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                                      Codecademy is a website dedicated specifically to teaching coding. Where other coding sites follow an example/practice session workflow, Codecademy includes a live practice window. This means you can practice coding while still viewing the lesson material.

                                      The courses at Codecademy are well written and easy to follow and the website is organized very nicely. Codecademy features a centralized dashboard where you can monitor your progress, plus organizes lessons into complete modules. This lets you learn an entire language without needing to pick the next course manually.

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                                      16. Code

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                                        Code is another website focused on coding and app writing. A site with high quality courses, Code also features learning options for kids.

                                        In addition to kid friendly courses, Code offers free online education classes on a wide variety of technology topics. These classes include app writing, robotics and Javascript.

                                        Most of the courses are also geared in a such a way that they can be useful in a classroom setting. This makes Code a great resource for harder to find coding topics, as well as various learning settings.

                                        17. University of London Podcasts

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                                          The podcast page on the University of London website is another great source for free education. While the courses are limited to podcasts, the site features podcasts from it’s own campus, as well as eleven universities in and around London. This gives learners a wide base of topics and lectures, but still ensures in-depth material.

                                          18. University of Oxford Podcasts

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                                            Similar to the University of London, the University of Oxford features many different podcasts. Most are public lecture series or lectures from visiting professors, with several different recordings available.

                                            The advantage to this particular site is that podcasts are organized into series, making it easy to subscribe to multiple lectures on one topic. Another good site for thoroughly in-depth lectures.

                                            19. BBC Podcasts

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                                              For the more casual learner, the BBC offers a wide variety of podcasts on many different topics. Most podcasts are updated weekly, and focus on everything from finance, to sports, to current events.

                                              Through the World Service line of podcasts, there are also many in different languages. The focus of these podcasts are less in-depth and theory based, which may be more accessible to the average person.

                                              20. TED-Ed

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                                                Another great destination for more general learning is TED-Ed. From the same people that brought you the all encompassing, motivational web series, comes a site chocked full of educational videos. Most include impressive animation, and all are ten minutes long or less.

                                                Not only is TED-Ed an excellent site for the curious, it also includes supplemental materials and quizzes on the videos. This makes the site extremely useful in formal education settings, as well as in entertaining ways to brush up on new discoveries and topics.

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                                                21. LessonPaths

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                                                  LessonPaths is another great tool for those looking for a more usable and convenient way to access learning material. On this site, users create link playlists of their favorite learning materials from other sites. Users then rank these collections, making it easy to find many different high quality, accessible sources on a given topic.

                                                  22. Memrise

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                                                    Another impressive free online education site offering ease of use and convenience is Memrise. Available both on desktop and as an app, Memrise is a particularly powerful tool if you are studying a language. The site encompasses many other topics as well, though some of the course material is user generated content.

                                                    Part of what makes Memrise special is their integration of games into the learning materials, mixing learning with entertainment.

                                                    23. National Geographic Kids

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                                                      The kids site for National Geographic is another site that makes free online education applicable for younger users. For those looking for kid friendly education, a large variety of games, puzzles, videos and photos keeps kids interested on this site.

                                                      National Geographic Kids doesn’t organize learning into courses, making materials available by topic and medium instead. This makes National Geographic Kids a good option for those looking for a more casual learning environment.

                                                      24. Fun Brain

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                                                        Fun Brain is another good option for kids who want to learn online, but focuses on games and fun puzzles. Particularly focused on math and reading, Fun Brain’s game based approach can be valuable if the child in question struggles to pay attention.

                                                        Fun Brain offers rewards and challenges as well, and is another site aimed at a casual learning experience for kids K-8.

                                                        25. Whyville

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                                                          Similar to the sites for kids free online education is Whyville a destination for preteen online learning. The site includes a variety of social features, with a focus on learning materials geared for young teens.

                                                          Whyville also mixes in educational games, to make the site a well rounded option for kids too old for simple games, but too young for heavy reading based material.

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                                                          Featured photo credit: Dai KE via unsplash.com

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