Teaching Kids About Money: Educational Money Games for Kids - WeHaveKids - Family
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Teaching Kids About Money: Educational Money Games for Kids

Teaching Your Kids About Money

Teach your child about money with these educational money games!

Teach your child about money with these educational money games!

How to Teach Kids About Money

As a parent, you may be wondering how to start teaching your kids about money. There are several different educational money games that are not only beneficial in the academic sense but also fun enough to keep your child's attention throughout the learning process.

So when do you introduce your child to these educational money games? I believe that you should start these lessons during the preschool years. The introductory level money games will help your child to identify the different coins and their values. Once they master these skills, you can move on to the secondary games which allows the child to test his or her new knowledge while having fun with role play.

My experience with my own children has always shown me that they learn best when they are playing games and having fun. Below is a list of fun and educational money games that I used with my own boys to teach them the different aspects and fundamentals of money.


Educational Money Games for Kids - Introductory Games

The first step to teaching your kids about money is to get them familiar with the different coins and their values. For my boys, we worked solely on the penny, nickel, dime, and quarter but feel free to add half dollars, dollar coins, and dollar bills if you wish. Here are three different educational money games to introduce all the different coins to your child.

  • Sorting and Stacking - Empty your child's piggy bank. Ask your child to sort the coins into separate piles. Be sure to point out the difference in sizes and values of each coin. Once he or she has the coins sorted into piles, ask your child to stack the pennies into stacks of 5 and explain one stack makes a nickel. Then ask your child to stack the pennies into stacks of 10 and explain this stack makes a dime and so on. This game helps your child to be able to start counting by 5's and 10's which will lead into being able to count correct change.
  • Coin Flashcards - Tape or glue all the different kinds of coins you are teaching to index cards. Display the front of the coin on one card and the back of the coin on another. Have your child identify each coin and their value. Point out the different pictures on each side of the coin and show how the size differs from one another. Once they can identify each coin, you can use these cards to play a matching game. Shuffle the flashcards into a big pile and have your child match the front and back of each coin. If he or she makes a match, then ask for the correct name and value of the coin.
  • Coin Memory - Tape or glue two of each coin to index cards. Put the cards face down on the table just as you would for any memory game. Have your child draw 2 cards. If he or she is able to make a match, ask your child to state the name and the value of the coin. If the cards are not a match, turn them back over and let your child try again.


Board Games to Teach Kids About Money

Educational Money Games for Kids - Secondary Games

Once your child masters the introductory money games, you can move on to the secondary games. Your child will enjoy figuring out what kind and how much money they will need in this pretend play world. Here are three more fun and educational money games to play with your child.

  • Candy Store - Set up a pretend candy store in your home. Price several different pieces of candy for purchase. Start with easy price tags such as $0.01, $0.05, $0.10, and $0.25. Give your child a bag full of coins to purchase the item of his or her choice. Have your child give you the correct coin to pay for the item. Once your child gets the hang of this game, he or she can move on to buying more items at a time or you can increase the price tags for a more challenging game.
  • Go Fishing - Cut out fish from construction paper. Attach price tags to each fishtail with a paper clip. Find or make a small size fishing pole with a magnetic end for a hook. Give each child a bag full of coins and instruct them to go fishing in the pond. For our pond, we used a blue, disc-shaped snow sled but other ideas for the pond include a large bucket or bin to keep the fish. After catching a fish, have your child pay the correct coin for their catch of the day. To make this game a little more advanced, increase the price tag of the fish to see if your child can make the correct change.
  • Bank Teller - Set up a pretend bank in your home with a toy computer/laptop and some change. Make out pretend checks using simple amounts such as $0.01, $0.05, $0.10, and $0.25. Let the child be the bank teller and tell them you are there to cash your $0.25 check. Help them pick out the correct coin to give. To play a more challenging game, try cashing multiple checks at a time or increase the amounts of the check to see if they can make the correct change.


Money Games Poll

The Importance of Teaching Kids About Money

Teaching your kids about the fundamentals and value of money can be fun and educational at the same time. Start out slow and work your way to the more challenging games. Keep the learning going by allowing your kids to pay for the bill at the restaurant or having them make the deposit at the bank.

By playing these types of educational games with your kids and letting them participate in real life situations, you are teaching them the value of money and the important role it plays in our everyday world.

I hope you have found some fun and educational games to start teaching your kids about money. Do you have any other games or fun ways to teach children about money? Feel free to leave your ideas or any other comments in the section provided below.


More Fun Ideas for Kids:

Comments

Mary Norton from Ontario, Canada on October 16, 2014:

This is one thing we often take for granted and when kids fail to manage their finances well, we just complain. Starting early to introduce them to money management is good and as they get ready for something more, be prepared to do it like opening their own bank account, managing their own allowance and later, filing their tax.

Brandon Hart from The Game on March 19, 2014:

My wife and I are considering reading that entitlement book with our kids and doing the program where they get all the money that goes towards clothes etc... for themselves... Do you have an opinion on that?

Alissa Roberts (author) from Normandy, TN on January 08, 2013:

Agree with you 100% Dad of 2 children! Thanks so much for stopping by and commenting!

Dad of 2 children on January 04, 2013:

Financial literacy is a lifetime quest. Money management is a set of life skills that needs to be taught throughout our lives, from (ages) 5 to 105. Where, how and from whom may change, but we need to keep learning about financial management concepts and solutions as our personal and financial lives change.

From: www.facebook.com/dowellinschool

Alissa Roberts (author) from Normandy, TN on October 25, 2012:

Thanks so much Tina! Appreciate the vote up and share!

Tina Truelove on October 24, 2012:

Great Article! Thank you for all the great ideas. Voted up and shared!

Alissa Roberts (author) from Normandy, TN on March 30, 2012:

Hi Global-Chica! Hope your niece enjoys them - my boys sure did! Appreciate you stopping by and for commenting!

Anna from New York, NY on March 30, 2012:

Great ideas for kids to learn about money and responsibilities! I think your ideas are really fun and ones that kids would love. I have a niece that's starting preschool soon so I want to try these out with her!

Alissa Roberts (author) from Normandy, TN on March 26, 2012:

Hi Mean Mike! The only online games I have tried so far with my boys is a coin memory game on www.usmint.gov and other money games on www.kidsmathgamesonline.com. The second one has a few games for little ones and a few for the older ones so you might see if he likes any of those. Hope that helps! Appreciate you stopping by!

Mean Mike from Chicago, Illinois on March 26, 2012:

Nice! Pretend store worked out great with our younger kid. Candy is definitely the way to go - we tried grapes and cherries - bad idea! Our older one is all about games on the computer now. We've slowly introduced him to Virtual Families, Perfect People and The Sims. He's a little too young for Virtual Families, but the other two have kept him quite occupied. All three games require you to get a job, buy stuff, and manage your finances. Let us know if you know of any others!

Alissa Roberts (author) from Normandy, TN on March 25, 2012:

Thanks so much Marnie! Appreciate you stopping by and commenting!

Marnie Craycroft on March 24, 2012:

I love this list of activities!

Alissa Roberts (author) from Normandy, TN on March 24, 2012:

Thanks so much Cara! Hope your kids have as much fun as mine did playing these games. Appreciate you stopping by and for sharing!

cardelean from Michigan on March 24, 2012:

These games are awesome! Your boys are such cuties playing them and I can see my two having a blast with them as well. Thanks so much for sharing your great ideas. Definitely will be using these and sharing with others!

Alissa Roberts (author) from Normandy, TN on March 15, 2012:

Thanks so much missolive! That means a lot coming from a great teacher like you. Appreciate you stopping by and for your kind comments!

Alissa Roberts (author) from Normandy, TN on March 15, 2012:

Hi K9! Happy to hear that you will be able to use some of these ideas. Hope that she enjoys them as much as my boys did. Thanks so much for stopping by and commenting!

Marisa Hammond Olivares from Texas on March 14, 2012:

Great lessons for teaching money Alissa. The make believe stores are always fun and help the kids apply the use of money. This is a wonderful lesson and I like your teaching style. Teaching should be fun and you've shown us a variety of ways to do that - thank you.

Nice pictures to! :)

India Arnold from Northern, California on March 14, 2012:

How fun are these Money Games for Kids! The flashcard idea is great. My God Daughter is getting to the age where these games are right on task. I can't wait to play them with her. Thanks for some educational and fun teaching tools!

HubHugs~

Alissa Roberts (author) from Normandy, TN on March 14, 2012:

Thanks so much Kimberly! Happy to hear that! Appreciate the votes and for the share!

Kimberly Lake from California on March 14, 2012:

Your games are great. This is a good teaching tool for money management, coin recognition and math. Voted up, use and socially shared.

Alissa Roberts (author) from Normandy, TN on March 14, 2012:

Thanks so much Doc! Yes playing games in any subject just makes learning so much better. My boys are much more willing to cooperate when I tell them we are going to play a game to learn about something new. Appreciate you reading and for leaving your comments!

Glen Nunes from Cape Cod, Massachusetts on March 13, 2012:

I must admit I still don't have the whole "money thing" figured out. If only my parents had played some of these games with me. :) There really are some great ideas in here. Just the idea of making up games to help teach kids is a great idea that parents, with a little imagination, could apply to any subject.

Alissa Roberts (author) from Normandy, TN on March 12, 2012:

Thanks so much Simone! I always loved my teachers who came up with little games to teach us something new. You were picking up knowledge without even realizing it because they made it fun to learn. Appreciate you stopping by and commenting!

Simone Haruko Smith from San Francisco on March 12, 2012:

Oh gosh, these are fantastic! I wish I got to play games like this as a kid. I really enjoyed money-oriented math games we played in elementary school. They seemed more interesting because they were connected to the real world- plus they got me started on some great habits!

Thanks for the fabulous Hub.

Alissa Roberts (author) from Normandy, TN on March 12, 2012:

Hi Kate! You are not alone I tend to be a tightwad myself or I am sure my husband thinks so anyway :) My parents always stressed saving your money and working hard to get what you want. Hopefully these games are a good start to leading them down the right path. This summer I hope to start a chore list with an allowance to further these money lessons. Thanks so much for reading and sharing your comments!

Alissa Roberts (author) from Normandy, TN on March 12, 2012:

These games were fun. I enjoyed watching the boys go fishing in our pretend pond and their eyes got so big when I set up the candy store. So you should totally play! :) Thanks so much Matt for stopping by and commenting!

katedonavon on March 12, 2012:

I agree that kids enjoy learning by playing games. We used to play store often with homemade play money. Once we got a little older we played Monopoly for hours on end. I think the best way we learned about the value of money, though, was by having little odd jobs (other than household chores) to do to earn money which we saved up for things we wanted. Probably why I have tightwad tendencies today...It took so long to earn those pennies!

Steven Pearson from Bonney Lake, WA on March 12, 2012:

I don't have kids, but when I do this will be a big focus for me so they don't learn like I did. Ill keep these in mind for sure...

That said, I wanna play some of these myself!

Alissa Roberts (author) from Normandy, TN on March 11, 2012:

Thanks so much Etay! Happy to hear you found some useful games to play. Appreciate you stopping by and commenting!

Alissa Roberts (author) from Normandy, TN on March 11, 2012:

Thanks Mel! That sounds just like me and my sister. We used monopoly money to play store and pay the bill at our pretend restaurant. Such good memories :) Thanks so much for stopping by and commenting!

Alissa Roberts (author) from Normandy, TN on March 11, 2012:

Thanks so much poowool5! I agree that you can never start too young. Hopefully (fingers crossed) I can make them realize just how important it is to save and budget your money. Appreciate you stopping by and sharing your comments!

Etay on March 11, 2012:

Thank you - this is a great list - we were using some, but were not aware of all the potential. We are currently using www.bankaroo.com to teach our kids about money and how to save toward goals.

Melanie from Midwest, USA on March 10, 2012:

Oh wow! The pretend store is so awesome! My sister and I used to do something similar and we'd use monopoly money mixed with some plastic coins we had. These are some really cool ideas!

poowool5 from here in my house on March 10, 2012:

Great ideas, Alissa, I did a lot of this kind of play with my boys when they were younger. Now they are teens and the stuff just pours through their fingers (money!)...the lessons we try to teach them are a little different but still VERY important, earning, saving, budgeting, etc. But you can never start too young, and to make it fun in games like this, that's priceless! Nice job!

Alissa Roberts (author) from Normandy, TN on March 10, 2012:

So happy to hear that you enjoyed it! I must agree that it will put them on the right track to handle their own personal finances later on down the road. Thanks so much ithabise for stopping by and commenting!

Michael S from Danville, VA on March 10, 2012:

Alissa, this may be a fundamental educational necessity, but it also chances to be a lifelong lesson in personal financial responsibility and indeed with all possessions. I enjoyed reading this.