Introducing Money in the Classroom (2024)

Counting coins and introducing money can be tricky math skills for our students. Finding creative ways to introduce money in the classroom and learning about the basic foundations that go along with this topic is so important. Students need to be exposed to a variety of money & financial literacy activities in order to comprehend this complex skill. Below you will find some strategies that can help students in your own classroom become successful money gurus!

This is only Part 1 of my money in the classroom series. You can also check out:

  • Part 2: Reinforcing Money in the Classroom
  • Part 3: 8 Books that Teach Kids About Money

This post containsaffiliate links. You can see mydisclosurehere.

Introducing Money in the Classroom (1)

When starting out, I would give yourself about 2 weeks to implement thismoney unitwith your students. When introducing money in the classroom, a big thing to remember, is that you need to get students involved. Try creating some type of anchor chart together as a class such as the one below. The anchor chart should show the money amounts or value of each coin and you should discuss what the heads and tails of each coin look like. I usedthis coin bulletin board setto make the chart.

Introducing Money in the Classroom (2)

Make sure to add plenty of visuals around the classroom such as thesemini anchor chartsfor students to reference as often as needed. Having plenty of exposure to each type of coin and what they look like is key to faster learning!

Utilize Videos & Books To Keep Students Engaged

Using videos is a great way to engage all of your learners right off the bat! One of my favorite ones is thisYouTube videofrom Jack Hartmann. It has a catchy tune and the kids always seem to enjoy it. You can play it each day at the beginning of your math block or when you have a few extra minutes and your brains need a break.It is a fun way to get the whole class out of their seats while learning!

I also love using books to help introduce key math concepts and build vocabulary in a way that students can connect with and enjoy. Plus, a few laughs here and there always makes my teacher heart happy.

In my YouTube video,My Favorite Books About Money, I share with you eight of my favorite books you can read during your math block. They cover concepts that help kids relate money to real life situations, from going out to dinner, to starting a business. These tales will help your students gain perspective on how money is used in the real world.

Use Hands-On Activities for Coin Recognition

Rather than just completing worksheets, allow students to really get involved by using things such as task cards, flip-books, crafts, and more! Using something like thiscoin bookreally helps when introducing money in the classroom and what each coin looks like. Each page gives a kid-friendly definition of what can be found on each coin to help with coin identification. The best part of all is that comprehension can be checked at the end to show what students have learned.

Introducing Money in the Classroom (4)
Introducing Money in the Classroom (5)

I’m sure you’ve seen thismoney poembefore. It’s always a big hit when it comes to learning about coins. It’s always a good idea to add this mini version to your math journals to reference throughout the rest of the year. It’s super catchy and always seems to stick with the kids.

Introducing Money in the Classroom (6)

Sort & Graph Coins for Coin Recognition

Once students master coin recognition, you can then move on to finding thevalueof coins. But, before you do that, spend a day focusing on sorting and recognizing each type of coin. One idea is to give each student a cup with a random assortment of real or plastic coins in each one. For example, Quarters, Dimes, Nickels and Pennies can each be used.

Then use these sorting mats pictured below to sort and keep track of their money from their cup. After they sort all of the coins, they can then graph how many of each coin they have. It is a perfect activity for practicing coin recognition!

Introducing Money in the Classroom (7)
Introducing Money in the Classroom (8)

Want to try this with your students? You can grab this exact graphing coin activity by simply filling out the form below!

You can also have students review coin recognition with this math journalflip-up activity!In this fun twist on interactive math activities, students will practice recognizing heads and tails of each coin and then write the value of each on theflap!

Introducing Money in the Classroom (9)

Begin Finding the Value of Each Coin

After you feel comfortable that your students can easily recognize coins, began to slowly introduce finding the value of a set of coins. I like to use the “Hairy Money Method” for this. Each coin gets a set of hairs to represent its value. Each hair is worth 5 cents so a quarter gets 5 hairs, a dime gets 2 hairs, a nickel gets 1 hair and the poor penny is bald so it just gets a dot. You canclick hereto download the poster below!

Introducing Money in the Classroom (10)

You can learn more about this simple method for teaching students how to count money In myHairy Money YouTube video!

I’m a huge proponent of spending one day a week focusing on one coin at a time. Use aninteractive notebook activitysuch as the one below to find the value of each set of coins and write it under the flap. You can also label your coins with hairs to help students count them.

Introducing Money in the Classroom (11)

I hope this blog post gave you some ideas on how to introduce money in the classroom with your students! You can also check outPart 2of this series which is all about reinforcing money in the classroom andPart 3where I share some books that you can use in your classroom to introduce and reinforce money over the course of the year.

Feel free to pin this image to save for later and add to your wish list!

Introducing Money in the Classroom (12)
Introducing Money in the Classroom (2024)

FAQs

How do you introduce money for a lesson? ›

Here are some tips for teaching money:
  1. Practice a little every day. Don't wait for the unit on money to start teaching the lead-in skills necessary, like skip counting. ...
  2. Make it visible. Post large pictures of coins and their value in the room. ...
  3. Connect to home. ...
  4. Use the 100's chart.

How can I use money in the classroom? ›

Money earned can be used to purchase fun gadgets and goodies from the classroom store, or a pencil and paper if a student shows up to class without adequate materials. This teaches students the importance of not only earning money, but saving it for necessary moments.

What are the essential questions for learning money? ›

Guiding questions
  • How much is a penny, nickel and dime worth?
  • How is a quarter different from a penny, nickel or dime? ...
  • What is a quarter [when given a variety of different coins] and how much is it worth?
  • What symbol do we put after an amount to indicate how many cents we have?

Why is it important to teach kids about money? ›

Teaching kids the basics of money management can help them develop the skills necessary to achieve financial success later in life. From saving and investing to creating and sticking to a budget, early money lessons can give your kids a leg up when it's time for them to make more significant financial decisions.

What is the general introduction of money? ›

Money is a commodity accepted by general consent as a medium of economic exchange. It is the medium in which prices and values are expressed. It circulates from person to person and country to country, facilitating trade, and it is the principal measure of wealth.

How do you explain money to students? ›

So, consider these tips when talking to your kids about money.
  1. Teach them what money is. ...
  2. Show them the many ways to pay. ...
  3. Show them how to earn money. ...
  4. Demonstrate how to spend responsibly. ...
  5. Teach them how—and why—to save. ...
  6. Stress the importance of giving back. ...
  7. Introduce them to the concept of budgeting.

What should schools teach about money? ›

Teaching financial literacy at a younger age helps children develop healthy, lifelong financial habits. The main principles of financial literacy include earning, saving, investing, protecting, spending, and borrowing.

Should money be taught in schools? ›

If students are not taught about credit reports, debt, savings, stock, retirement, and similar subjects in high school, they are much more likely to experience money-related challenges when they put them to use in the real world. And current US statistics show we're definitely doing something wrong.

Can teachers give students money? ›

It is not illegal but unwise. The situation can so easily be misconstrued and the teacher may end up in deep trouble regardless of the teacher's good intentions.

What are the five things about money? ›

  • Each Dollar Amount Has Its Own Lifespan. ...
  • A Banknote Can Be Folded 4,000 Times. ...
  • There's a Reason US Dollars Are Green. ...
  • A Coin Can Last Around 30 Years. ...
  • The Highest Bill Denomination Issued by the US Was $100,000. ...
  • A Penny Costs More to Make than It's Worth. ...
  • Money Is Dirtier Than You Think. ...
  • The Dollar Sign Was First Used in 1785.
Dec 7, 2022

What are the 5 financial literacy questions? ›

Financial Literacy Test
  • How much money should you put into savings every month? ...
  • What are the 5 factors that add up to make your credit score? ...
  • What's the most income you should use on monthly credit card payments? ...
  • What's the maximum debt-to-income ratio a person can have and still qualify for a mortgage?

What are three things money can provide? ›

To summarize, money has taken many forms through the ages, but money consistently has three functions: store of value, unit of account, and medium of exchange.

How do you explain money to a child? ›

How to Teach Preschoolers and Kindergartners About Money
  1. Use a clear jar for their savings. ...
  2. Set an example with your own money habits. ...
  3. Show them stuff costs money. ...
  4. Show them how opportunity cost works. ...
  5. Give commissions, not allowances. ...
  6. Avoid impulse buys. ...
  7. Stress the importance of giving. ...
  8. Teach them contentment.
Jan 9, 2024

What children learn from money? ›

Children often see adults exchange coins and bills when they buy things. As children grow and start to make choices, they learn that people, things, and money have value. These concepts form the foundation for understanding the importance of spending, sharing, and saving.

What is the concept of money for kids? ›

Money is a mode of payment accepted by both sellers and buyers for goods and services. Money is what we give in return when we buy stuff like food, clothes, house, groceries, etc. We give money in return for purchasing anything. This is a simple trade or exchange.

When should I start teaching about money? ›

He recommends teaching five- to eight-year-olds "very, very basic things" like that money has value and how choices made with it have an impact. For eight to 12-year-olds topics can be more complex, Landolt believes. "You can talk about the different types or uses of money.

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