Basic Money Math Practice Test for 2nd Grade – [Medium]
Updated on October 3, 2023
Money is a fascinating subject, especially for 2nd graders. At this age, children are becoming more aware of the concept of money, its importance, and its various forms. Brighterly aims to simplify the world of math and money for young learners. Today, we dive into the basic money concepts tailored for 2nd graders.
Understanding Coins and Their Values
Before we get to counting money, it’s essential to recognize the different coins. Here are the primary ones:

Penny:
 Worth: $0.01
 Fun Fact: It features Abraham Lincoln on one side!

Nickel:
 Worth: $0.05
 Quick Tip: It’s thicker and bigger than a penny.

Dime:
 Worth: $0.10
 Remember: Even though it’s the smallest coin, it’s worth more than both the penny and the nickel.

Quarter:
 Worth: $0.25
 Cool Fact: There are different designs on the back, showcasing various U.S. states and territories.
Understanding the different coin values is crucial. It sets the foundation for more advanced money math in the future.
Counting Money
Now that we’re familiar with the various coins let’s move on to counting money. Using physical coins can be a fun activity. Here’s a simple exercise:
 Start with Pennies: Count them one by one.
 Move to Nickels: Remember, each nickel is like counting by fives.
 Dimes are Next: Counting by tens is a breeze!
 End with Quarters: They’re like counting by twentyfives.
With a bit of practice, kids will start to combine different coins and count mixed amounts. For example, 2 quarters, 3 dimes, and 4 pennies equal 79 cents!
Making Purchases and Getting Change
One of the most thrilling experiences for a child is buying something with their money. But this also introduces the idea of receiving change. When they hand over more money than the item’s price, they should get some money back. This concept strengthens their subtraction skills. Let’s say a toy costs $0.50, and they give a dollar bill. How much should they get back? By deducting the cost from the amount given, they’ll find out they should receive 50 cents back!
Saving Money
Finally, it’s not just about spending; saving is equally important. Introduce your child to the concept of piggy banks or savings jars. Every time they save, they’re setting aside money for bigger things in the future. It’s an excellent lesson in patience and foresight.
In conclusion, understanding basic money concepts in the 2nd grade is more than just math. It’s about laying the foundation for essential life skills. At Brighterly, our mission is to illuminate young minds, and with lessons like these, we’re confident we’re on the right path!