Before you begin this unit, ask the students some questions about what experiences they have with shopping, what ways they like to save their money, and what special items they would like to save up money to buy. This will promote student interest to learn more about money if they only have had limited experience so far.
Identifying Coins and Bills
When you are opening up the unit of money, first begin by using a lot of visuals of dollar bills and types of coins. Give students ample practice in knowing what the names of the coins and bills are as well as the value. Students are less exposed in a lot of cases to all of the coins and bills in their everyday lives due to the ease of credit cards while parents shop. Provide students with either imitation money to manipulate or using a powerpoint slide show to present students with visuals, names, and value amount of coins and bills. Create an anchor chart of the coins and dollar bills they will need to know for the upcoming unit. Provide students with pictures, values, and names. Keep the anchor chart up for students to refer to throughout the unit.
Working with Money Less Than One Dollar
The concept of money is introduced to students in amounts less than one dollar. The great thing about the Eureka Math program is how heavily practiced number fluency is. What this means is that students have spent a great amount of practice in the area of counting up and counting back within numbers up to 100. Students have learned strategies of counting by tens and then on by ones or fives. These skills directly relate to the skills they will need to master money. You can also motivate students when counting coins with online resources such as https://www.roomrecess.com/Tools/OnlineCoins/use.html. Using this tool, students can drag different types of coins onto the screen, count the total, and then check if they are correct. You can supplement the Eureka Math program with online resources and learning slides assigned to students through platforms such as Google Classroom.
Playing Money Games
Using games to provide students with money fluency is both motivating and successful. Create a store in the classroom and label various items with price tags. Provide students each with an allotted amount of imitation or play money. Assign the students roles to be the shopper or the cashier. Each role will have practice with both budgeting how much money they need and counting back the change.
Using Money in Problem Solving
After the students have become familiar with the classroom store, start to use names and create scenarios for students to problem solve. Give students experience with the money problem solving language needing both skills for addition and subtraction. For example, “John had $3.00 he bought two erasers for $1.00 each. How much change does he get back if he pays with a $5.00 bill?” Give students opportunities to know what this would look like in concrete form using the play money and scenarios to act out how to solve.
From this experience, support students using the Eureka Math Learn workbook to practice money problem solving using the RDW (read, draw, write) strategy of problem solving. When students are problem solving, they can draw models of coins and dollar bills with amounts labeled on each.
Eureka Math Resources for Teaching Money
Eureka Math will walk students through the county money learning process by providing black line master templates of coins to be cut out and manipulated. When the students are presented with the workbook pages, they are given pictures of coins to support with counting on. The pictures of coins also serve as a tool used to cross out coins when subtracting amounts. Students are then gradually introduced to mixing both coins and dollar bills.
The unit of money is overall a fun and motivating one for students to relate to. Use the opportunity to create a high interest around this topic by making fun and engaging activities. When students are provided with a deep understanding of money early on, they will have a strong foundation for extending their thinking with more difficult money concepts later on.
- Classroom Teacher
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