ATM play set:
* Abstract concept of saving and retrieving money
* Money comes out of a machine when you put a card in
* When money is gone – game over – go home!!!
I don’t seem to have the same problems with toy cash registers.
Toy cash register:
* Money is tangible and swapped for goods – money has value
* Role playing – shop keeper and shopper
* When money is spent – swap roles or open a new shop selling different things!!!
I know kids need to start early with money awareness and education, but even the 3+ years recommendation on the ATM playset box seems a bit ambitious!
Being curious about what is usually taught and expected regarding kids and their understanding of money, I looked up a few sites that discuss teaching children about money:
Teaching kids about money – goals by age– From 6-10 years, and 11+…
Money as you grow – 20 things kids need to know – 3-5 year olds: You need money to buy things, you earn money by working, you may have to wait before you can buy something you want, there’s a difference between things you want and things you need.
Teaching toddlers about money – ‘Playing pretend’ / grocery store; earning coins/money as a reward, and talking about money at the shops – including comparing prices.
As our little one is only 21 months old, I think his current money awareness play/ education is limited to learning that he can’t have or take home everything he sees and likes in the shops; and perhaps soon he’ll be ready and /or interested in playing pretend shop – as he certainly sees enough of me paying for groceries at the cash register. (Sometimes he hands over the money and takes the goods too).
Disclaimer and explanation:
No goods or payment from any toy companies are being received for the writing of these reviews. The reviews are my opinions only. One thing is certain – every child is different and is therefore likely to explore, play and enjoy different toys in their own way, at their own pace. And just like adults – kids have their own set of interests or passions they will be drawn to. Adults can encourage kids to develop through play, by providing them with a variety of play opportunities and toys; and my favourite play spaces have well organised, kid-accessible storage, and only a selection of ‘toys’ on display for kids to focus on -rather than overflowing with toys and ‘stuff’ that can become overwhelming and overstimulating! … I am also a fan of the ‘un-toy’!
How do you teach your kids about money? Do you have a toy ATM or cash register? – If so, I’d love to hear how they have they been incorporated in play?
If you enjoyed this post, you may also like to check these out from Kids’ Play Space:
A word on buying toys
Campaign for gender neutral toys
Our top 5 (bought) baby toys
Thanks for visiting Kids’ Play Space!