The Academy Excels at Teaching the Importance of Money
Almost as soon as a child begins to talk, he “wants” things. It might be a balloon at the fair, a toy a friend has, or a candy bar while grocery shopping with Mom. Therefore, it’s never too early to begin teaching the importance of money to your preschooler.
At The Academy, learning about money is just one of the many activities we incorporate in teaching children about numbers. In this blog we discuss some of the things you can do at home to further your child’s understanding of money.
Keep It Simple
Because your preschooler is young and doesn’t understand the complicated world of money, keep it simple. Begin with basic facts about money they’ll grasp.
- Parents work hard for their money.
- Money is not unlimited; therefore there is a budget that you must follow.
- What your child wants may not fit into the family’s budget.
Teaching the Importance of Money through Banking
A bank can be a mysterious place for a child. They see their parents using the ATM machine, and they may think the money coming out of the slot is unlimited. Use banking activities to instill in them how money works in the real world.
- Buy an attractive piggy bank for your child’s room. Then encourage your child to add loose change and bills to it.
- Open a saving account for your child.
- Have your child deposit a percentage of cash presents for birthdays and Christmas instead of spending it all on toys.
- Buy a toy cash register, fake bills, and coins. Teach your child the concept of how to make change as they “buy” and “sell” items with their family. Of course, young children can’t make exact change, but they will get the idea.
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