Missed Part 1? [Read it Here].

Money and math, money and math, go together like a horse and carriage… uh… tea and a hot bath… uh… let’s move on, shall we?

Random non-rhyming tunes aside, money and math are, indeed, a great pair. You can be a great parent and teach your kids the basics of arithmetic, algebra, and percentages using real-world scenarios… while secretly preparing them to slave away at your taxes every year as you sit back and sip lemonade (mwahahahahaha).

Arithmetic:
You can sneak in little lessons about arithmetic whenever you have some spare change. While you’re waiting for your meal at a restaurant, you can pull out a couple of pennies and ask: “If I have three pennies and add two, how many pennies do I have?” or some variation thereof. Once they’ve mastered addition, you can move on to subtraction, multiplication, and division (“If we have three nickels, and we divide them among three people—you, me, and Daddy—how many nickels does each of us get?”). Your kids will learn math while getting even more familiar with the different coins. Not to mention, they’ll love the challenge… especially if they get to keep the change!

Algebra:
Ever thought about coins? How five pennies equal one nickel, two nickels equal one dime, etc? That’s algebra! 5p = n, 2n = d. Once your kids have mastered arithmetic, you can start teaching them the basics of algebra, even as they learn how the different coins relate to each other. For instance, now while you’re waiting for your meal, you can ask your kids: “If five pennies equal one nickel (5p = 1n), and two nickels equal one dime (2n = 1d), then how many pennies in a dime?” If you write out the equations with letters instead of the full word, they’ll get more familiar with the format of algebra, and you can act out the equation with the actual change!

Another great way to get your kids learning math is at a vending machine. If an item is, say, 85 cents, you can pull out a handful of change and have your kids figure out which coins to add up to 85. (ex. three quarters + one dime = 85 cents)

“That sounds cool,” you say, “but my kids are way too young for algebra!” That may be true, and you certainly don’t want to frustrate your kids with anything too far beyond their level, but every kid is different. Give it a try. Your kids may surprise you!

Percentages:
Your kids are really financial hot-shots now! Once they start learning percentages, you can have your kids tell you what percent of a dollar is a nickel, or what percent of a nickel is a penny. If they start saying that’s too easy… well then, have them calculate the tip!

So, go put your nefarious plans into action, and begin grooming your little financial planner! There are lots of fun places to teach your kids about money and math: vending machines, restaurants, grocery stores. If you get creative, you can turn almost any outing or errand into a fun money/math challenge!

We all know how important it is for our kids to learn about money, but when is the right time to start? The answer is now! Kids are never too young to learn the value and uses of money, and if you start them early, they’ll have an easier time managing their own finances as they grow up. “But money is so complicated!” you protest. “How can I possibly teach my 3-year-old?”

Never fear! It’s true, a 2- or 3-year-old probably can’t handle taxes or cash flow… yet… but there are many lessons they can start learning very young:

The value of a dollar… and all the other kinds of money. Your kids can learn how many pennies there are in a nickel, a dime, a quarter, and a dollar. They should also know that there isn’t such a thing as a $3 bill or a $40 bill. You can play some fun memory games with them, like “Which one doesn’t belong, a $20 bill, a $5 bill, or a $3 bill?”

Using an ATM. ATMs are a great learning tool. While we strongly recommend against giving your kids your PIN, they can handle just about everything else. Whether you’re making a deposit, a withdrawal, or just checking your balance, your kids can practice their reading skills and their number recognition, even as they become familiar with the ATM. Best of all, they get to push buttons (what kid doesn’t love pushing buttons?) that make a fun beeping sound.

If you’re not in a hurry and there aren’t people waiting to use the machine, you can take more time to teach your kids what the words mean: “Deposit means to put in, withdraw means to take out.” After a few trips, you can wow the other moms on the playground when you ask your kids what they did that morning and they respond: “I deposited a check at the ATM.”

Filling out checks. Checks are another great learning tool. They’re particularly fun because they teach many different things. Even before your kids can write, they can watch you fill out the checks. You can get them involved by asking questions like “What is today’s date?” and “OK, so how do we write out that date?” or “What letter is that?” and “How do you spell ‘five’?”

Once your kids have learned basic writing skills, you can have them fill out everything but your signature. Not only will they become familiar with checks, but they’ll also practice dates, writing, and spelling, and they’ll get to look at the value of the check both in number form and written out.

With these lessons, you’ll be well on your way to having your kids do your taxes!