Basic Money Values for Early Learners (Ages 3-5)

Learning to share and give helps children understand that money isn’t only for personal benefit; it can be used to help others, too. Teaching this concept early fosters empathy, generosity, and the idea that wealth has a purpose beyond oneself.

Set up a “kindness jar” where your child can place coins to save up for a charitable goal, such as a small donation to a pet shelter or a toy for a child in need.

• What to Do: Whenever your child performs a kind action, encourage them to place a coin in the jar. Once they reach a small goal, take them to a store to buy a toy or item for donation, explaining how their contribution will help someone else.
• Learning Outcome: This activity reinforces the joy of giving, helping children connect positive actions with generosity and the concept that money can bring joy to others, not just themselves.

Give your child a few treats, such as crackers or fruit pieces, and ask them if they’d like to share some with family members or friends.

• What to Do: Discuss how sharing brings happiness to others, and let them decide if they’d like to give a piece to each person. Praise their efforts to share and highlight how it made others feel.
• Learning Outcome: By practicing sharing with tangible items, children learn that giving is rewarding and that small contributions can make a big difference to others.

Teaching respect for money introduces the concept that money holds value and should be handled responsibly. This respect forms the basis for careful spending, saving, and mindful money habits in the future.

Introduce a piggy bank and explain that it’s a special place for their money. Emphasize that money should be treated with care by keeping it safe in the bank.

• What to Do: Encourage your child to place coins in the piggy bank gently and remind them that the bank is a safe place for their “savings.” Show them how the piggy bank keeps their money secure and why that’s important.
• Learning Outcome: This activity instills a sense of respect for money and reinforces that it deserves thoughtful handling and protection.

If you have some play money or even real coins, demonstrate how to keep money organized. For instance, you could place coins in rows or sort them by type.

• What to Do: Teach your child to pick up and place each coin carefully, stacking them or laying them in a neat row. Explain that organizing money helps us appreciate it and keep it safe.
• Learning Outcome: Children learn that money isn’t just another toy, but something to be valued and cared for, laying the foundation for future organizational skills.

Making choices is an essential skill, and introducing simple choices related to money helps children understand that we must prioritize what we want versus what we can afford. This concept supports critical thinking and encourages mindful decision-making from a young age.

Present your child with two small treats, like a snack and a sticker, and explain that they can pick only one. Guide them through the choice, asking them why they want each option and encouraging them to think about their decision.

• What to Do: Let them make the choice, and celebrate their decision. Discuss how choosing one thing means waiting or saving for another, highlighting that we don’t always get everything at once.
• Learning Outcome: By making a choice, children understand that spending sometimes involves giving up one option to enjoy another, helping them practice patience and decision-making.

Take your child to a toy store with a small amount of money and explain that they can choose one item within their budget. Let them explore, consider different options, and make a decision.

• What to Do: Gently guide them to think about their options if they have trouble deciding, but let them make the final choice.
• Learning Outcome: This exercise helps children learn that money comes with limits and that spending involves thoughtful selection, promoting both responsibility and independence.

Understanding the difference between wants and needs is a foundational financial skill that helps children learn to prioritize. By grasping this concept, they can make wiser choices and appreciate that essentials come before luxuries.

Create cards or cut out pictures from magazines that represent wants (like toys, treats) and needs (like food, clothing). Mix them up, and ask your child to sort the pictures into “wants” and “needs” piles.

• What to Do: Guide your child through the sorting process, explaining why certain things, like food, are needs and others, like candy, are wants. Encourage them to think about which items are more important.
• Learning Outcome: This game helps children recognize the value of essential items, building an understanding of prioritization that supports mindful spending later on.

During a grocery trip, ask your child to help you find one or two “needs” (like milk or bread) and one “want” (like a treat or snack). Explain the difference between what we need to stay healthy and what we sometimes enjoy as extras.

• What to Do: Talk through each item as you put it in the cart, labeling it as a “want” or a “need,” and let your child identify a few examples themselves.
• Learning Outcome: This real-life exercise gives children a tangible understanding of wants versus needs, helping them build practical money values through everyday experiences.

Family discussions about money values provide children with a moral and ethical framework for how they view and use money. Talking openly about family values surrounding saving, spending, and giving helps young children understand the importance of money decisions.

Share a family story about a time when someone used money to help others or when the family saved for something special. Describe the experience and the feelings associated with the act of giving or saving together.

• What to Do: Keep the story simple and focused on the impact. Discuss how everyone felt and why the decision was valuable to the family. Ask your child how they feel about helping others.
• Learning Outcome: Storytelling personalizes financial values, showing children that saving, sharing, and mindful spending are positive choices that reflect family values.

At the dinner table, talk about a recent purchase or family decision related to spending, like saving for a family outing or prioritizing essentials over non-essentials. Explain why the choice was made and how it aligns with the family’s values.

• What to Do: Involve your child by asking their thoughts on how the family should spend or save in the future. Encourage them to think about their own choices and values.
• Learning Outcome: This activity connects financial decisions to family values, helping children see money management as part of shared goals and responsibilities.