Introduction to Money
Money as a concept is something that children are exposed to on a daily basis from quite early on. Any monetary transaction involves the use of notes and coins. Money is something that we all interact with in some way shape or form on a daily basis, and consciously or not, we end up falling back on our math skills to handle that money reliably.
The Big Idea
Money as a math topic is introduced in Kindergarten and continues until Grade 5. By Grade 5 the student is exposed to all the ideas concerning money like the different denominations, currency conversion, operations using money (the most important of all). This track eventually leads up to commercial math. In commercial math, the child learns related concepts like simple interest, compound interest, and profit and loss.
How do I understand?
At Cuemath the introduction of this topic begins by exposing the children to the different denominations in our currency system. It then moves on to converting the rupees to paise or vice-versa. In grades 4 and 5 children
learn about the concept of cheques, credits and debits. They also learn about the online nature of money.
This concept can be best taught by the use of play money. Children can learn and have fun at the same time. Being able to transact artificially is both fun and engaging.
Here are a few links that will take you through the journey that every Cuemath students undertakes in the pursuit of understanding Money along with practice worksheets: