Your Kid Can Understand Concepts Of Different Denominations Of Money

You love to watch your child when he is playing one of his make-believe games. Children love to play such games and create their own fantasy world. Many a times they also create their own currency for that world. So the concept of money has been a part of his life for some time but now he would also know the value of each currency. Reading and basic math skills of addition and subtraction will help him understand real life situations involving money. It is also the time to encourage your child to maintain a piggy bank to store his allowances. 

What you need to know

It is very important for your child to learn about money and its importance in life. Besides learning to identify the currency and calculating it, you should also try to give him the learning of how transactions happen, how banks work, etc. Let him make small purchases from the neighborhood shops and he will learn how to use money.