Class 1 Exam > Class 1 Notes > Mathematics for Class 1 > Chapter Notes: Money
Money Class 1 Notes Maths Chapter 12
Introduction
Ravi and Reena are buying ice creams at an ice cream parlour. What do they have to give in return to the ice cream vendor?
The answer is money!
- Money is used to buy things at a shop, online or in the market.
- In India, money or currency is in the form of rupees and paise.
- We use the symbol T for rupee or rupees and 'p' for paisa or paise.
Let Us Count Money
Neerav and Nisha went to a shop to buy a book. It cost ₹ 30. They did not have exact ₹ 30 to pay. They paid a ₹ 50 note to the shopkeeper. The shopkeeper returned ₹ 20 in the form of coins and notes of smaller values (denomination) as ₹ 10 + ₹ 5 + ₹ 5.
Edurev Tips: Notes and coins of higher denominations can be exchanged for smaller denominations.
Money Stories in Real Life Situations
Example 1: Somya bought a pizza for ₹ 70. She also bought popcorn for ₹ 25. How much did she pay for both? Somya paid ₹ 95 for both the items.
Example 2: A chocolate costs ₹ 18 but I have only ₹ 15. How much more money do I need to buy the chocolate? I need ₹ 3 more to buy the chocolate.
Activity
Learning Objective: Understanding and practising handling notes and coins up to rupees 20 in daily life
Preparation:
- The teacher arranges play money and some wrappers of chocolates, wafers, empty pencil boxes, etc. (The teacher can ask the students to bring real small eatable packets.)
- The teacher prepares price tags for items with the
- Sets up real shopping scenario with the help of volunteer students.
Working:
- Divide the students into groups of four.
- Give play money to all groups. Display items with their price tags.
- Let one group enact as sellers and other group as buyers.
- Pose a situation like- I want to buy a pencil box which costs say, ₹ 19.
- Check how do they do simple addition and subtraction of money by using different combinations of coins and notes (up to rupees 20 only).
- Repeat the activity with other groups and have fun.
The document Money Class 1 Notes Maths Chapter 12 is a part of the Class 1 Course Mathematics for Class 1.
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FAQs on Money Class 1 Notes Maths Chapter 12
| 1. What is the importance of teaching children about money? |  |
Ans. Teaching children about money is important because it helps them develop financial literacy skills from an early age. They learn the value of money, how to budget, save, and make wise financial decisions. These skills are essential for their future financial well-being.
| 2. At what age should parents start teaching their children about money? | |
Ans. Parents can start teaching their children about money as early as preschool age. Simple concepts like identifying coins and understanding their values can be taught through fun activities and games. As children grow older, parents can introduce more complex concepts like saving, budgeting, and making wise spending choices.
| 3. How can parents make money lessons fun and engaging for children? | |
Ans. Parents can make money lessons fun and engaging for children by using hands-on activities and games. They can set up a pretend store where children can practice counting money and making purchases. Another idea is to give children a small allowance and encourage them to save, spend, and donate a portion of it. This allows them to experience the real-life application of money management skills.
| 4. What are some practical ways to teach children the value of money? | |
Ans. Some practical ways to teach children the value of money include involving them in household budgeting discussions, encouraging them to earn money through chores or part-time jobs, and setting savings goals for desired items. Parents can also teach children about the concept of delayed gratification by encouraging them to save for larger purchases instead of impulsively spending their money.
| 5. How can parents teach children to be responsible with money? | |
Ans. Parents can teach children to be responsible with money by setting a good example themselves. They can involve children in family financial decisions, such as planning for vacations or major purchases. Additionally, parents can encourage children to save a portion of their allowance or earnings, and discuss the importance of saving for emergencies and future goals.
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Nov 20, 2024 Last updated |
Document Description: Chapter Notes: Money for Class 1 2024 is part of Mathematics for Class 1 preparation.
The notes and questions for Chapter Notes: Money have been prepared according to the Class 1 exam syllabus. Information about Chapter Notes: Money covers topics
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