How To Make Change

Knowing how to count money is very important. People who work with money all the time, like people at Beach Municipal Federal Credit Union and cashiers in a store, use a special way to make change very fast. It's a lot faster than writing with a pencil on paper or even looking at a calculator. Here's how it works:

Example One -
Let’s pretend you are selling candy bars for $.55 each. Long John Saver gives you a dollar. How much change do you owe him?
1. Say the cost of the item.
2. Add the fewest coins to get to 25, 50 or 75.
3. Then add quarters to get to the dollar bill.
Answer: If Long John Saver gave you $1, you’d give him $.45 in change.

Example Two -
This time let’s try it with bills larger than one dollar. (Remember to count single bills until you get to the bill given.) Let’s pretend Long John Saver needs a new pirate hat. He picks out one that costs $6.23 and gives the cashier $10.00 to pay for it. How does the cashier make change? (Tip: it's best to count each coin and bill total out loud.)
1. Say the cost of the item
2. Add the fewest coins to get to 25, 50 or 75.
3. Now add quarters to get to a dollar.
4. Finally, add bills to get to $10.00.
Answer: If Long John Saver gave you $10, you’d give him $3.77 in change.

Example Three -
Your parents have a yard sale, and you sell your old soccer ball to Long John Saver for 2.50. He gives you a $10 bill. How much change should you give him? Remember: Don't use five singles when you can use one $5.
1. Say the cost of the item
2. Add the fewest coins to get to 25, 50 or 75.
3. Now add quarters to get to a dollar.
4. Finally, add bills to get to $10.00.
Answer: If Long John Saver gave you $10, you’d give him $7.50 in change.