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Math and Money
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The description below was contributed by: Jerome J. Schultz, Ph.D., on Jun 05, 2000 01:54:13PM

4 Star Activity Rating

Age group(s) for which this activity is appropriate:
Elementary School
Middle School
High School & Beyond

Describe the activity:

  • Give your child an allowance, with the ability to earn bonuses tied to correct bookkeeping. Here's how: Give him a certain amount for "expenses" each week. He can also earn money to add to his "account." If you set up a rule that says 25 percent of your earnings get transferred into "savings," then math comes into play. Helping your child keep records will help build skills while building savings. For older kids, paper charts can work, but for little kids, you might want to get two see-through piggy banks. Put the "money you can use" into one (with an easy-open door) and the "money you save" into another (without a door).

  • Your child can help you price items on a shopping list before you go to the store together. This helps kids predict the value of certain items. For a younger child, ask what she wants you to buy for her (increases interest) and then say: "Do you think that will cost more or less than a dollar?" or "That costs about a dollar. How many quarters do we need to by that?" For an older child, you can say: "We need paper towels -- how much do you think they cost?" Write down the answer and let your child see how close she got when you get to the store.

    Pick a handful of items to keep this light and fun. You can expand the activity by having your child do the math to see how far off she was. (Be careful here not to turn this into "school" -- take your cues from your child.) You can also look at the newspaper to find out what's on sale. This will teach comparing values and math skills.

  • Have your child pick out three items in a store. If she can correctly add the price of all three, she can get one of them. (You were going to buy it anyway -- but she doesn't know that!)

  • Help your child set up his or her own bank account. Depositing money earned on odd jobs is very motivating. It teaches kids the value of savings, helps them practice math in a productive way, and makes them feel pretty important. Even young kids will learn to be more money-smart as they grow.

  • Have kids predict the distance from one place to another on a walking, bike, or car trip. This builds an appreciation of distance and reinforces number skills. Older kids can use a map to help plan a family vacation or a day trip.

  • Having kids record computer-game scores on a chart is not only a good way to log successes, but also an opportunity to do some meaningful math: "How many more points did you earn today?" "What's the percentage of gain over yesterday's score?"

  • For middle- or high-school kids, following a stock in the daily paper is a good way to gain exposure to numbers in an interesting and sophisticated way. Try a summer "stock club." Family members "invest" a hypothetical (or real!) dollar amount in a number of stocks, which everyone follows and charts.

    What is the benefit to a child with learning problems?
    Giving kids successful experiences with numbers is the best way to help them overcome math avoidance or "phobia." These activities let kids use numbers in a fun way that promotes an "I can" feeling. Asking your child to make predictions is a great way to actively engage his brain and then confirm his answers. If success is measured as getting within 10 or 25 cents of the correct price, this also broadens what's meant by right or wrong. Here the task is getting close, not necessarily getting it right. That can come later, when kids feel more confident and competent with numbers and math concepts.

    By Jerome J. Schultz, Ph.D.

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