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What preschoolers can learn about money

Three- and 4-year-olds aren't too young to start learning about money. At least they can be shown that money is something you exchange for something else. You might want to give your child a few coins to spend on a piece of sweet candy or fruit at the store. This will demonstrate the use of money, even though the relative merits of different purchases are still beyond the child's comprehension.

Giving an allowance probably doesn't make sense at this age because children's concept of time isn't developed enough to grasp the idea of receiving a regular income. Besides, you know what they'd spend it on.

Nevertheless, there are a few specific money-related exercises that can benefit a preschooler. As your child learns to count, you can demonstrate the relationship between kobo and Naira, then dimes and quarters. Also, children like to play store with play money. It's a good way for them to learn the role of money.

Contributions from Kiplinger

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