The ability to identify currency is key to developing money skills. Young children enjoy recognition games in which they identify coins. Allow students to examine and handle coins, pointing out distinctive features of each. To play a game, describe one of the coins to the child, giving clues until they figure out the answer. A variation is to set down a large number of various coins and ask the student to identify groups such as three nickels or two dimes and one quarter.
The venerable piggy bank has long been a starting point in teaching children to save money. As the times have changed, so have piggy banks. No longer just about saving, piggy banks can help children manage their money. A number of piggy banks with separate compartments for spending, saving and sharing are commercially available. Children may also construct and decorate their own bank out of small boxes, jars, containers, construction paper or cardboard.
Money-related board games are an effective learning activity for small groups. Children who are still learning to count might best benefit from non-money games such as Candyland that require simple counting. Once basic counting skills have been mastered, commercially available games such as Buy it Right and Little Spender are logical next steps. These games teach concepts about the value of money, making change and how to add and subtract.
Children naturally gravitate toward role-playing, especially modeling what they see from adults. In a play store, children learn about money as they make buying decisions, exchange and count money and learn that some things cost more than others. A play store activity can be as simple as setting up a row of toys and making up prices or as complex as constructing a "store-front" out of plywood or cardboard, complete with signs and price labels.