My daughters have recently started receiving a little bit of a weekly allowance. One of them is very interested in saving as much of her dollars as possible for as long as possible. The other sees the money and immediately thinks of the things she wants to buy. This led to some conversations around the dinner table about the value of money. The last conversation prompted me to compile the following list of resources for teaching and learning about the value of money.
Peter Page money counter It is a fun little game designed to help children learn to recognize US coins, recognize US coin values, and add US coin values. The game is available as a file Free iPad app And as Free Android app. There are three levels in Peter Pig’s Money Counter and three games in each level. The first game asks students to sort coins into a tractor. The second game requires the students to count the coins and choose the corresponding total value. The third game has the students look at a pile of coins and decide which has the most value. The difference between the levels is the quantity and variety of coins offered.
What gives a dollar bill its value? It’s a nice TED-Ed lesson on the effect of US Federal Banks on currency value. The lesson includes a short piece on the relationship between inflation and the overall health of the US economy. The lesson is probably best suited for high school students who already have a basic understanding of how the value of a coin is determined.
How to spot a fake invoice It’s a fun TED-Ed lesson on money. In the lesson, students are introduced to the chemistry of counterfeit detection. In other words, they learn why and how these highlighter pens work when a store clerk runs a twenty-dollar note.
Why can’t governments print an unlimited amount of money? Another TED-Ed lesson on the value of money. The purpose of the video is to explain how governments, particularly the US federal government, have been able to spend trillions of dollars on economic relief programs for COVID-19 in the past year. The video explains the role of central banks in controlling the money supply and the concepts of inflation and quantitative easing. There is also an explanation of government bonds, why they are being sold and who is buying them. Overall, it’s a powerful video for middle school or high school students.
Compound interest can be a great thing if you’re saving money. How compound interest works is a concept that every middle school or high school student should learn because it helps them see the value of saving money in a bank account. this is Shared Kraft video He does a good job of explaining the concept in a way that middle school and high school students can understand. This video is Investopedia It offers a slightly different, but equally useful, interpretation of compound interest versus simple interest.
The inflation calculator Created by Involve.me it allows you to enter a dollar amount and then select two years to see the change in the value of the original dollar amount over time. Watch this short video Let’s see how it works.