Games to teach kids about money: three of the best

Hey all, Andy here again.games to teach kids about money

Today I’ve got a follow-up from my teaching kids about finances article. Since I suggested you use games, I’ve done some research for you on:

games to teach kids about money.

 

There are heaps and heaps of games out there to help you teach your kids: there are computer games, apps, board games, all sorts!

I’ve chosen 3 board games which are suitable for kids under 10.

Why board games?

Well, we do so much stuff on computers and phones these days, it’s nice to step back. Board games also give a chance for the whole family to participate. I have many fond memories of playing board games as a kid, don’t you?

Also, with these money games, your kids will get to handle play money, and get a much more practical experience of learning about money than a computer or app could ever give them.

Money bags


games to teach kids about money

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A fun math game where kids can learn a lot about combining coins and notes to make up different amounts of money.

Ages: 4 and up

Object of the game: be the player with the most money by the end of the game.

Description: Players collect, count, and exchange money as they move around the board. Each player will only be allowed to use certain coins and bills, as dictated by the spinner. This means they have to get creative with making up total money amounts with what is available to them. For example, could you make up 32 cents without using quarters?

Pros: 

– easy to play

– games are fast (so kids won’t get bored like they might with monopoly)

– teaches kids about the value represented by different coins

– good for younger kids

Cons: 

– when purchasing from Amazon, some people have found they got a version of the game that was not their home currency, so make sure you double check your order

– not the best for older kids, as the amounts of money earned are things like “15c for a lemonade stall”, which might be a bit lacking when you’re wanting to teach older kids more real world stuff

Game of life


games to teach kids about money

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This was one of my favorites growing up! This classic takes you on a journey right through life’s milestones, with all the financial events that go along with it.

Ages: 8 and up

Object of the game: have the most money when you “retire” at the end of the game.

Description: Go to college, have a family, take out insurance, make investments. The Game of Life takes you through life, with all it’s choices, and a big element of chance.

Pros: 

– updated version has jobs kids will love to choose, e.g. video game designer

– great family fun

Cons: 

– some people are disappointed with the updated game, it’s not as they remember playing it as a kid (different careers, paths, and actions) so beware of this when making your purchase

Cool stuff alert: why not check out the Minions edition of the Game of Life? Your kids will LOVE it!

minions

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Cashflow for kids


games to teach kids about money

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Em and I have played the adult version of this game, and it was great fun (even though she beat me, much to her delight).

Ages: 6 and up

Object of the game:

Description:Learn about finances, investments, and accounting, all while having fun. Cashflow was created by Robert Kiyosaki (author of Rich Dad Poor Dad) to help parents teach their kids about making good financial decisions.

Pros:

– both kids and adults will learn while playing this game

– teaches kids about the value of money (i.e. what it’s worth spending it on)

– again, this game is great fun!

– sounds like it might be complicated, but it’s actually quite easy to learn

– kids will learn how to make money work for you, not the other way around

 

Cons:

– it’s the most expensive game I’ve reviewed here (but an excellent investment in mine and Em’s opinion, your kids won’t get sick of it)

 

Don’t wait for a rainy day, grab one of these great games now!

 

Have you played any of these games, or have a different favorite for kids? Drop me a comment below.

 

Happy downsizing,

Andy

andy downsize your debt

 

 

 

 

 

image 1 by Dana, C/C 2.0, https://flic.kr/p/j9udTd

prices correct as at 18/08/15

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