What is money? Children quickly learn mom and dad use money to buy stuff, but they usually lack the understanding of where that money comes from.
- It can be helpful to give them an example of bartering. Explain that long ago, a person might have traded a horse for a cow. But having money allows someone to buy a cow, even if that person doesn’t want a horse in exchange.
- Discuss with your children about how people have jobs and work so they can earn money to pay for a house, car, clothing, entertainment, and other expenses.
- Make the point that money is a medium of exchange. You have likely exchanged a certain number of hours of your time to earn $100. You then spend that $100 on goods or services worth $100.
- Show them all the different types of money, including coins, and explain the values.
Let them earn … Read the rest