A tab or an IOU is a written promise to pay later. It runs on trust.
Long ago, before cards, Rosa the baker let Sam take buns now and pay on Friday. Each bun cost 1 pretend coin.
Rosa made a chalk mark on a board for each bun. A list of what we took and have not paid for yet is called a tab.
Sam also wrote an I O U, a note that says I owe you. It is a promise written down.
Paying later works only because people trust each other.
These are some of the questions on the sets. The printable sheets have more and an answer key.
6 coins. 2 + 1 + 3 = 6, one coin for each bun.
I owe you. It is a promise written down, and it gets paid back later.
Coins at the counter. A chalk mark only waits to be paid.
With a grown-up, write a pretend note that says I owe you, for something small. Sign it, and tear it up when it is paid.
With your child, write a pretend I O U for something small, sign it, and tear it up when it is paid. It shows that paying later is a promise and that it runs on trust. Pretend coins are enough.
