Money, Money, Money

Looking for a way to help your child find that Pot of Gold at the End of the Rainbow?? St. Patrick's Day brings thoughts of gold and money to mind. Everyone would agree that teaching children about money is important to their future success.

There are many ways to help children gain an appreciation of money, its value, and ways to earn it. Many parents begin by giving children an allowance. This is a good first step in developing money sense in your child. There are many great articles about allowances to help you decide on the appropriate amount, relating chores to allowance, and what the allowance is to be used for. A collection of excellent allowance articles can be found at the Kid's Money website. Here parents can also read and participate in an online allowance survey.

For more help with allowances, check out CIBC SmartStart. Here children can play The Allowance Room Game which will help them figure out how long they will need to save for things they want. This site is divided into age groups and provides appropriate activities for each. Parents will find excellent information on allowances and on setting expectations as well.

Once you've agreed with your child on his or her allowance, you may wish to begin teaching your child to appreciate the actual value of money. At A+ Math, children learn to figure out the value of groups of currency using Money Flashcards. These interactive Flash Cards present children with a collection of bills and coins. They count and answer the question, "How much money is here?" Instant feedback is given and an explanation accompanies incorrect answers.

FunBrain.com's Change Maker Game is another great place for your child to practice using money. At this site children need to figure out how much change they should receive from a purchase. Difficulty levels and national currencies can be chosen. Instant feedback is given.

The United States Treasury has a Kid's Page, as well. This page has some interesting activities to help children develop "money smarts".

There are many web sites which teach children to use money wisely. Some of these provide excellent games that make learning this important lesson fun. A.G Edward's Big Money Adventure, Moneyopolis! and Escape from Knab are just a few choices to consider. Escape from Knab is especially interesting as it also includes an educational page which has lesson plans, worksheets, and suggestions for use it in the classroom or at home.

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