Earning and Spending

Getting pupils to discern the concept of money is easy, but to guide them to value the money is quite difficult since it is abstract. Pupils can understand the characteristics of money and its physical features. Contextual learning with hands-on approach can help pupils to understand the value of money. 

Everything Costs Money 

To do this, teachers can arouse pupils with context that is relatable to them. Guide pupils to list out things that they want to buy if they want to decorate their room. While doing this, the teacher can show a few examples of the kid's room by using picture cards or pictures on screen. Ask them to choose their desired theme, colours, or any cartoon characters. Guide them to list out the price and help them to determine the price of each decoration item. 

Earn To Get What You Want

After pupils list out the items that they need to decorate their room, guide them to calculate the total. Teacher arouses pupils by asking each of the pupils the total amount and teasing them whether that item is expensive or affordable. 

Ask pupils where they can get the money to buy all the items. They cannot ask from their parents or somebody else without doing something. They must earn it. Thus, ask them to list out the things that they can do or love to do. 

Now that pupils have two lists, ask them to compare the total amount of money that they can get with the total amount of the items that they wanted to buy to decorate their room. Match it and the teacher guides them whether it is still not enough or just enough for them to buy the item to decorate their room. 

This activity helps pupils to understand the value of money. They have to earn it before they can buy the needed items or fulfill their desire. Always emphasize to the pupils that everything costs money and they have to earn to get what they want.