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# Money lessons through maths

29 January 2019

Here are three fun money lessons you can enjoy with your kids, even if maths is not their favourite subject.

Maths is a subject that kids either love or hate. For some maths comes naturally, but for others it can take a little work. Even if your child doesn’t enjoy or excel in mathematics, there are steps you can take to ensure their financial literacy develops strongly with fun money lessons.

## 1. Dividing and conquering

A sense of monetary value and different types of bank notes is a financial lesson you can gently introduce your child to once they know how to count. Sit down with your child and show them two items of varying value – for example, a toy car, a video game or a bar of chocolate. Give them some \$1 and \$2 coins as well as a \$5, \$10 and \$20 note and ask them what notes and coins they would need to buy each item.

## 2. Going shopping

From a young age kids love helping with the shopping. Tapping into this sense of responsibility is a great way to develop financial literacy. You can ask them to help you create a mini budget, give them the task of putting those items into their trolley and then practice adding up what they cost.

Give it a try:

• Cut out some pictures of your child’s favourite foods – these can be pictures from magazines or ones you’ve found online
• Then use a marker to write an estimated dollar value on each item
• Get them to pretend they are going to the shop and give them a budget
• They then glue the items they can afford onto a sheet of paper - that's the shopping done.

## 3. Counting coins

Learning how to add coins can be tricky for children, in particular children who aren’t confident with maths. Here's how to make it simpler and more memorable:

• Create a pile of coins, with as much variety in the denominations as possible
• Get your child to sort the coins into 50c, 20c, 10c and 5c piles
• Ask them to use several coins to make up a dollar in total value
• Then ask them to find other ways using the coins to make up a dollar in total value e.g. 2 x 50c, 5 x 20c, 10 x 10c. For extra motivation, tell them if they can come up with more than three variations they can spend three dollars on a treat