moAfter the good laugh yesterday, its back to money lesson time….

Our self-created Money Lesson 3 is what I call: Its time for PLAY!

**The amount of coins used for Lesson 3 is the same as Lesson 2, except 9 more pieces of $1.00 coins are needed.

Step 1: I told Keatkeat to bring me 9 toys.

Step 2: I wrote down $0.10 to $0.90 on stickers.

Step 3: Keatkeat stuck the 9 stickers each on every toy.

Step 4: I grabbed a handful of coins  for myself. The rest (majority) of the coins are left for Keatkeat.

Step 5: I was the Buyer, Keatkeat was the Seller. (There is a reason behind this….)

Step 6: I started buying his toys. I need to train his systematic counting first. Hence I started with the $0.10 toy first, followed by $0.20 till it reached $0.90.

Step 7: For Every toy, irregardless of the value, I will ALWAYS start paying him with a $0.10 coin. Obviously, other than the $0.10 valued toy, the other toys, he will have to say “It is NOT enough. You need to give me ____ cents more.”

For Every toy, I will buy it 10 times, BEFORE I move to the next toy. Here is the example:-

i- I picked up the toy valued at $0.10
ii- I gave Keatkeat $0.10
iii- Keatkeat would say, “Thank you.”
iv- I returned the toy back to him, and he returned the $0.10 back to me.
v- I picked up the toy valued at $0.10 AGAIN.
vi- I gave Keatkeat $0.20
vii- Keatkeat would say, “You gave too much. Here’s $0.10 back to you.”

i-vii is repeated until $1.00 is given (by me).

I call this a ‘Step Up Calculation’. The gradual increase of how much to give back is easier for the Preschooler to comprehend.

Hence, after the $0.10 valued toy has been bought using ‘$0.10 to $1.00’, the next toy, which is valued at $0.20 will be bought.

Again, I started giving Keatkeat $0.10 to buy the $0.20 toy.

Keatkeat would say, “Sorry, Not Enough. Please give $0.10 more.”

Thus i-vii is repeated again for this $0.20 valued toy. The ‘Step-Up’ continued till all the toys were bought over 10 times each.

Money Lessons 4 will be in the next post…..