Counting money is a very simple task, but very useful to find out for sure the value of the change you have lying around. Also, it can be a good way to practice math. Learning to count your money is a fun and quick thing that can be put into practice especially if you work in retail or if your job involves using a cash register.
Method 1 of 2: Counting the Coins
Step 1. Collect all your coins
The first thing to do is to collect all your loose coins. Empty your pockets, purse, wallet or any other place you use to store coins. Spread them out on a flat surface to expose them so that none overlaps the other. It's important to be able to discern them easily.
Step 2. Organize them by size and value
You can then separate the coins into groups determined by value. For example, put all dimes in one place, all dimes in another place, and so on. Keep this up until you accumulate small piles of identical coins. Then collect all the coins from each pile into a larger column. When finished, you will have a collection of small piles of coins on the table.
- The size and color of the coins makes it easy to get the job done quickly.
- You can perform this step in descending order, from highest to lowest, stacking the 1 dollar coins into a pile, followed by the 50 cents, 25 cents, 10 cents, 5 cents, and finally 1 cent.
Step 3. Calculate the value of each stack
Now review the contents of the stacks, calculate and note the value of each. For example, if you have a pile of ten pennies, write that it is worth 10 cents. Five 50 cents? Write $2.50. Complete this calculation for each stack.
- You can also write these values into a table. Put titles for each currency value, marking the frequency of all the equivalents found, and add up the total values.
- If there are many stacks, you will need to identify which ones have already been counted. One way to do this is to move them to the other side after they've been tagged. For example, keep uncounted coins to your right and slide them to the left after counting them.
Step 4. Add up the results
Once you know the value of each stack, you just need to add them all together to get the total value. You can add as you count to advance the process. However, if you think this can lead to confusion, remember that when writing the value of each stack, you can go back to the beginning and add all the values at the end.
Step 5. Consider using a coin counting machine
If you have a lot of coins or need to process a lot of change in your work, it can be very useful to purchase a coin counting machine. These devices serve to identify and sort coins by value, eliminating the need to do it manually. Some of the more advanced machines also count the contents and indicate the sum of the total value of the coins.
- Maybe you can find coin counting machines that can be used in a bank. However, keep in mind that there is usually a charge for this service.
- Coin counting machines generally charge a fee of approximately 10% of the total amount of change processed.
Method 2 of 2: Counting Grades
Step 1. Organize your accounts
Once you have counted all the coins, you can move on to banknotes or notes. Basically, you'll follow the same method you used before, that is, divide the notes into piles of equal value and calculate the total of each one. The first step is to spread them around the table to see them all clearly. Then divide them into groups.
- For example, you might have a stack of $5 bills, another stack of $20 bills, and so on.
- Depending on how much money you have, the process can either be very quick or take some time.
- If there's a lot of money to count, start with the bigger bills. Collect the R$100, R$50 and R$20 bills in their own piles. Then move on to the BRL 10, BRL 5, BRL 2 and BRL 1 bills.
Step 2. Count the value of the notes and write it down
Now that you've organized all the bills into separate piles, just go through them all and calculate the value of each one. If you have five BRL 20 bills, write down the sum of BRL 100. As with coins, you can go through each of the piles and write the value of it on a piece of paper or add the value of all of them on the Final. If you feel more confident in your math and memory skills, you can calculate the total along the way, just writing down the final amount after you finish.
- Another way to carry out this step is to create a table with titles for each note value, crossing out the frequency at which each one appears in the respective column, and adding up the total values.
- For example, if you have two BRL 50 bills, three BRL 20, four BRL 10, two BRL 5 and six BRL 1, the column “TOTAL” should contain “100, 60, 40, 10, 6”. Adding these values together, you will get the final result of BRL 216.
Step 3. Combine the totals for bills and coins
The final step is to combine the two totals obtained for coins and notes, respectively. This will provide the total amount of money counted. Write down the totals and use the records to keep track of your personal finances and budget.
- If you intend to deposit this money, you can put it in special deposit envelopes. On the outside of them, you will write the content value.
- To pay bills, swipe the barcode under the laser scanner to identify the envelope and follow the ATM instructions.
- Always check your calculations to make sure the values are correct.
- Keep cash count amounts and totals to keep a personal record. This not only gives you the ability to take a personal balance, it also helps you to find out how quickly you spend your money.
- Use online money counting games to practice and improve your math skills.