Counting money is a fairly easy task, but it is very useful to have a clear picture of the amount of change lying around you. Counting money can also be a great way to practice math. Learning how to count money correctly is a quick and fun task that can be used especially if you work in the retail industry or work that involves using a cash register.
Step
Part 1 of 2: Counting Coins
Step 1. Collect all the coins together
The first thing to do is collect the change. Empty your pocket, purse, wallet, or any other place to store coins. Spread them out on a flat surface so that all the coins are visible and not stacked on top of each other. Each coin should be easily distinguishable.
Step 2. Arrange the coins by size and value
Then, coins can be grouped by value. For example, collect all $500 in one place, all $1,000 in another, and so on. Do this until you get a small pile of each coin. Then, arrange each pile of coins to form a column. When you're done, you'll have a bunch of little piles of coins on the table.
- The size and color of the coin make this step very easy to do very quickly.
- This step can be done in descending order from high to low value by stacking the entire $1000 bill first, followed by $500, $200 and finally, $100.
Step 3. Count the amount of money from each pile
Now, calculate the value of each pile of coins and write them down. For example, if you have 10 coins of $100 note that the stack is worth $1,000. Five Rp1,000 coins? Write down Rp. 5,000 below. Complete the counting of each pile of coins.
- Value for money can also be recorded using a tally chart. Start with the value of each coin at the top of the scheme, then write down how many coins you have, then add up the total.
- If you have a large pile of coins, clearly mark which parts have been counted. This step can be done simply by moving the pile of coins to the other side when the count is complete. For example, leave the pile of uncounted coins on the right side and slide them to the left when you're done counting.
Step 4. Add up the coins as a whole
Once you know the value of each pile of coins, just add them all up to get the number of coins you have. Values can be added as you count each stack and keep the amount in mind for faster counting. If you're worried about forgetting, writing down the value of each pile of coins allows you to remember and add them all up at the end of the calculation.
Step 5. Consider using a coin sorter
It's a good idea to get a coin sorting machine if you need to process lots of coins on a regular basis. This tool will sort the coins by value. Some of the more sophisticated machines are also capable of calculating and informing the total amount of money in it.
- Coin counting machines that can be used can be found in banks or shops. But remember that usually coin counting services using these machines will incur a fee.
- Money counting machine services usually cost approximately 10% of the total value of the coin being processed.
Part 2 of 2: Counting Banknotes
Step 1. Arrange the banknotes
After you finish counting all the coins, move on to the paper money you have. Basically, the same way as counting coins will be used, namely by separating the banknotes into piles based on the same value, then calculating the sum of the values of each pile. The first step that must be done is to spread the banknotes on the table so that they can be seen clearly one by one. Then, separate them into groups based on the value of the money.
- For example, make a pile of IDR 5,000, IDR 20,000, and so on.
- Depending on the amount of cash you have, this process can either be completed fairly quickly or take some time.
- Start with the largest value if there are many notes to count. Arrange banknotes worth Rp. 100,000, Rp. 50,000, and Rp. 20,000.
Step 2. Count and record the total value of the banknotes
When you have separated the banknotes into different piles, all you have to do is go ahead and calculate the total value of each pile. If you have 5 bills of Rp. 20,000, the total is Rp. 100,000. As with coins, go through each pile and record the value on a piece of paper, then add up all the values at the end of the count. If you have more confidence in your ability to count and remember yourself, the amount of money values can be calculated during the process and only write down the total when you are done counting in its entirety.
- Another way is to use a table with the top of the schematic containing each banknote value calculated, and then adding up the totals.
- For example, if you have two Rp. 50,000, three Rp. 20,000, four Rp. 10,000, two Rp. 5,000, and six Rp. 1,000, the "total" column in the table will read "100,000, 60,000, 40,000, 10,000, 6,000”. The entire amount must be added up to produce Rp.216,000.
Step 3. Combine the number of coins and notes you have
The last step that must be done is to combine the total number of coins and paper in a row. This will result in the total money being calculated. Record the amount and use it to track your budget and personal finances.
- If you want to save the money, put it in a special bank deposit bag. The total value of the money inside can be written on the outside of the bag.
- Consider clamping notes with paper clips if you plan to store them.
Tips
- Double-check each calculation to make sure it's added up accurately.
- Keep records of calculations and totals for personal records. This method not only helps keep financial records, but also helps track how quickly money is being spent.
- Use online money counting games to practice and improve your math skills.
