Games that Teach Kids About Money9:14 PM
By Jessica Streit
Later this month, I will share some great books that can teach kids about money. They go a long way in starting conversations about all aspects of financial literacy. If you are trying to provide your children a solid foundation with money; books, a positive role model, and regular conversations are just three things your child should experience. Another part of the equation could be playing games.
Games are a great tool for starting conversations or bigger projects. One game could be a good opener for starting your child on a regular allowance while another may be the perfect stepping off point for a discussion on savings and investing. No matter what area you wish to focus on, finding a great game is easier with this list.
1. PayDay - This is a good game but it doesn’t have an option for saving money. If you can find the older version from your childhood, you’ll be able to play while teaching a bit about saving money. It’s still a game worth playing for kids to learn about money.
2. The Game of Life - Learn what life is really about; education, student loans, marriage, kids and more. Kids will learn how far money can go when life throws you a punch. (It might be best to find an older version on eBay. Some reviews on Amazon are saying the updated version isn’t as good as the one you may remember.
3. Monopoly - You know this game and the lesson it teaches in investing in real estate, and spending money without going broke. The younger version, Monopoly Jr. is great for kids age 5 and up. Instead of dealing with money in the hundreds, kids will play with single-digit dollar amounts as they acquire fun properties at the amusement park.
4. The Allowance Game - Kids learn about doing chores to earn money and ways they can spend that money. Kids will also learn about making change and more.
5. MoneyWise Kids - This game will teach kids how to make change (great for the younger ages) and budgeting money. Kids will manage their money while planning for food, rent, and clothing.
6. Money Bags - Money Bags is a great way for kids to learn the many different ways to make the same amount of money. Instead of using 2 quarters to make fifty cents, they may have to use 3 dimes and 4 nickels.
1. FarmBlitz - Financial Entertainment has a number of financial education games on their site. Your kids can help the celebrities avoid bankruptcy, show someone how to spend their tax refund appropriately or grow a farm to be profitable in the award winning game Farm Blitz.
2. Piggy Bank Adventure - This game is from Disney and is formatted like a board game. Kids can learn valuable money lessons while playing this fun game. There’s “Tips” and “Financial Lessons” attached to every move your child makes so they can learn more about why decisions they made were either correct or incorrect.
3. Money Metropolis - Kids can complete mini-challenges like keeping things quiet while babysitting so the baby doesn’t wake up and mowing the yard without wrecking the lawn mower too many times. They earn money to reach their goal and can chose how to spend the money they earn. There are more educational games online at Practical Money Skills for Life.
Teaching your kids about money is something we must do as parents. The best way to do that is by making it fun. These games will help you do just that.
Jessica Streit is an educator, freelance writer and single mom of 2 boys. Her writing can be found on a variety of topics including personal finance, education and parenting. She blogs about overcoming debt and living a royal life on a budget at The Debt Princess.