Home schooling ideas teaching children about money and maths
Despite 94% of parents believing that saving money for their child’s future is important, a surprising 13% have never discussed money with their children.
However, with many parents having to home school their children in the current situation,
thinkmoney have created a helpful guide of activities to teach children of all ages about the value of money.
What’s more, you can do all of the below without the need to buy anything or leave the home check out the these Money advice activities
Create a makeshift piggy bank
- Introduce them into the idea of looking after money by getting them to make their own piggy bank.
- Wash out any clear container with a lid, and let your youngster run wild decorating it.
- Once finished, ask them to put loose change into it. Start them off with a couple of coppers and tell them they can only spend the money once the piggy bank is full.
- This could also be used as a reward system; when they’ve been good, more coins go in and they get closer to buying a toy. As they get older, you can build on this idea by paying them for chores.
Turn your living room into a shop
- Take some household items and place price tags on them before giving your child some coins to spend.
- When they ‘shop’, ask them easy mathematical questions that make them consider their purchase choices. For example, “If that costs 5p and this is 2p, how much have you spend so far?”
- To help them understand the process, you can swap roles and let them have a go at being the cashier. This will help them practice adding up.
Teach them about the link between work and play
- For those old enough to complete chores, create a job chart. Place a financial value on each job. For example emptying the dishwasher is worth 50p.
- Once they’ve completed a chore, they get to mark it on the chart.
- At the end of the week, you tot up the totals to see how much they’ve earned.
Play money-based board games
- Games are a simple way of teaching children the basics of looking after your cash, and accepting the costs of money mistakes. Monopoly is perfect for this.
If you can’t persuade them to play a board game, popular online games, such as Minecraft can teach children about being responsible with money – holding accountability for the consequences of impulsive buying