Monday, 4 November 2013

Playing Shops

Cosmo had a good grasp of money from a very young age. We have given him small amounts from the age of two and allowed him to manage it in various ways, and he picked it up fast. The children's Granny took them on a shopping spree and gave each of the children £10 and he was very careful to work out what he could buy to ensure he spent to his budget exactly. It's something we've done before for Christmas/birthday money and he really enjoys it.

I like this approach. We use YNAB's budgeting software and  one of the first four rules is to 'give every dollar (pound) a job'. Even if that means allocating it to savings or emergency funds.

Lychee has had little interest in money, and despite being given the same amount as her brother on a shopping trip, she will choose one small item and show no interest in budgeting and doesn't want the rest of the money.

It hasn't really bothered me, but maths wise I think she should at least be able to recognize coins.

Enter the shop.

We have built a little shop area in her room, and initially play involved paper money that the children made themselves - mostly £99 or £10000000000000 notes. Recently though we have given her a little purse with some spare coins and she has been having so much fun with it.

Playing shops today I realized she is now recognizing 20p, 5p and 1p fairly consistently. She still has no idea about 2p, 50p or a £1 coin, but we are getting somewhere.

Plus we are having fun.