Tips for Teaching Preschoolers

Developmental Characteristics

  • Understand the idea of saving when they can count
  • Think money as a way to get things they want
  • Understand the concept of borrowing and returning
  • Understand what is theirs and what belongs to others
  • Choose to buy between two or three items
  • Imitate parents’ spending habits
  • Do not understand different money value
  • May not understand that they have to pay for things that they take off the shelf at the store

Suggested Teaching Activities

  • Take kids shopping whenever it is possible
  • Use play money to play grocery store
  • Borrow or rent something they need to return
  • Teach them identify the names of the coins
  • Let kids pay for one item when shopping
  • Teach kids that parents work for paying food and clothes
  • Have kids do routine chores without pay, let them learn to be responsible
  • Put savings in a jar, build a good saving habit
  • Read stories about money and responsibility
  • Provide two or three alternatives and let them make a choice
  • Discuss products advertised in commercials

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