Easy Money
Written By Catherine Newman
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21 Ways to Teach Kids About the Green Stuff
Sorting a mayonnaise jar of loose change into solid rolls of money, our son gets to thinking. "How much would it be," Ben wonders, "to get to Grandma and Grandpa's house if every inch were a dime?" In his mind, an odometer morphs comfortably into a slot machine; in mine, cost and distance crash together like cymbals. "Wow," I say. "I don't have the foggiest. How much do you think?" And I know what his guess will be even before he names the basic unit of currency for children everywhere: "A million dollars."
While we grown-ups fret over bank accounts and save for the college educations our children might eventually enjoy if they make it through toddlerhood without choking to death on a penny, our kids cash in on the many charms of money: as a spillable thing, sortable object, countable unit, savable commodity, and spendable wish-fulfiller.
Kids are naturally interested in money because we are, of course. And money is a handy vehicle for all kinds of exploration, both concrete and conceptual: Will a quarter stick to a magnet? (No.) Is it worth the exorbitant price to build hotels on Boardwalk and Park Place? (Yes.) Should I pass up the cupcake-flavored lip balm to save for a rock polisher? (Maybe.) What should I do with this dollar I found on the floor of the store? (What do you think you should do with it?)
But back to my son's Dr. Evil-ish one million dollars. I'm getting out the calculator, Googling "feet in a mile," helping him convert distance into cash: miles (170) into feet (x 5,280) into inches (x 12); then inches into dimes into cents (x 10) into dollars (÷ 100). When the total comes up, I actually gasp, and Ben leans over to look — "What number is that?" — then after I tell him, he says cheerfully, "Wow, I was totally wrong!" And so I must explain how unbelievably close 1,077,120 is to a million. Money doesn't grow on trees, and it can't buy me love, but as a means for teaching kids math, value, responsibility, and charity, there's a lot it can do.
Next: How Kids Understand Money: A Timeline
