Hunter Jayla May 1, 2020 Money Worksheets
Card games usually need math skills. Children will really enjoy playing cards without realizing that they are already practicing the concepts of fraction. First, you should mix up a deck of playing cards which are numbered only. Divide the group in two teams. Ask kids to choose one card each. There need to be a student who will act as a denominator and a numerator. Whichever student simplifies the fraction first contends against the player next in line. The game ends when only one student is left.
Now for the fun part! Encourage your kids to spend their money wisely. Teach them how to shop for bargains and what value the toy or item might provide long term. When my kids were growing up, I strongly encouraged them to spend wisely on a hobby or a collection and learn as much as they can about the history behind the collection. My son at ages 5-9 years old, collected toy tractors and had every type, design, style, manufacturer, and specifications memorized. He knew more about tractors than most farmers! When he got older he repeated the passion with his train collection, later still, with WWII memorabilia.
Once my son started working a real job and had taxable income, I made him a deal that if he started an IRA with $500 and $50/month, I would match for the first year. After a couple education sessions, he jumped on it! It's a great way to jump-start their retirement savings AND further teach the greatest wonder of the personal finance world: compound interest.
Math skills are very important for your 2nd grader to be. There's no better place to start than practicing basic math facts. Start with addition and subtraction of small numbers, then practice some multiplication and simple division. There are many places online where you can practice for free or print worksheets. Have your child help make cookies to show them how math is used in daily living. Kids generally love to bake, especially cookies. Another way to teach your child math concepts is by having them add the price of grocery store items on one of your shorter grocery trips. They can use a calculator or teach them to estimate and write down the amounts on a little notebook. Additionally, you can ask your child to help you count money. This is a very important skill that is well worth the effort.
Get your youngsters into some good habits starting as early as 5-years old. Look for a good Kid's Reward Program that will teach them the value of money and how to use some simple budgeting worksheets designed for kids. Keep expanding the program as they grow older and start to earn their own paycheck. Earnings (for jobs well done), Saving, Tithing/Charity, Spending, and Investing are all key components of instilling good financial habits for kids of any age. For now, let's start with some key tips to teach our kids the fundamentals:
Similarly, kids who are best at counting backward can learn how to subtract numbers easily. For example, if a student knows 50, 45, 40, 35, 30, 25, 20; now it is very easy for this student to subtract 5 from 50 or any other number. Hence, learning backward counting is a key math skill too.
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