Money for Class 1

The reading material provided on this page for Money is specifically designed for students in grades 1 to 4. So, let's begin!

Introduction

Money is an essential part of our lives. It helps us buy things we need and want. In many countries, including the United States, the dollar is the main currency used for buying and selling goods. Today, we will explore the world of money and learn about the dollar, its value, and how it is used.

What is Money?

Money is a special kind of object that people agree to use in exchange for goods and services. It comes in different forms, such as cents and paper. Money makes it easier to trade because it is universally accepted as a medium of exchange.

Introducing Cents and Dollars

In the United States, the dollar ($) is the currency that is commonly used and the symbol of a cent is (¢). The dollar bill comes in different denominations, including $1, $5, $10, $20, $50 and $100. Each dollar has different colours, pictures and numbers to help us identify its value.

Counting Money

Counting money involves the use of mathematical operations to determine the total value of a collection of coins and bills. The addition is the primary operation used when counting money. Here's a short note on counting money using operations:

When counting money, each coin and bill has a specific value assigned to it. Coins commonly used include penny (1 cent), nickels (5 cents), dimes (10 cents) and quarters (25 cents). Bills range from $1 to $100 denominations.

For example:

Conversion of Money

Dollar to Cents: To convert dollars to cents, you need to multiply the dollar amount by 100, as there are 100 cents in one dollar.

For example:

-> $1 = 100 cents
-> $5 = 500 cents
-> $10 = 1000 cents and so on.