If you’re going to be buying them presents anyway, why not buy them the gift of freedom…financial freedom at that! Besides giving your child the all important Ultimate Allowance, games are fabulous as teaching tools.
Here’s six financial games that will teach your young ones a thing or two about money.
1. Cash Flow for Kids
Cash Flow for Kids is a simple, yet effective game that teaches kids the idea that financial freedom comes from developing passive income streams by investing in assets. It’s the game that spurred our Creative Wealth Money Game that we play in all of our unique financial intelligence programs. You can’t go investing in this game for your kids.
2. Monopoly
Monopoly is a great money game for kids learning how to count money and make decisions. Play the classic Monopoly with paper money or the new Monopoly with Electronic Banking. There learn to buy and sell properties, build houses and collect rent. Robert Kiyosaki says this is how he learned the ‘game of real estate’. No wonder he’s so good at it! Four green houses, one red hotel is the rule he learned from this game and most of us know the story from there!
3. Game of Life
This game may help your children make decisions about their careers and other life events. The decisions they make affect the income they receive and how they spend their money.
4. Payday
Even though all of our programs promote starting businesses to become financially free, most kids will at one point in their lives have a job or six! This game kids learn to have that job, lend money, pay bills and interest, and deal with unexpected expenses.
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5. Moneywise Kids
Two different games are included in Moneywise Kids, one for making change and the other for budgeting money. Players must account for food, clothing and housing in the play option focused on money management.
6. Money Bags
One of the first things we realized we needed to teach kids in our Camp Millionaire programs was how to count back change. We didn’t think this one up actually. The parents requested it. Ask and you shall receive. And believe it or not, it’s often one of the most challenging activities for our campers.
Kids learn how to count change by earning money for various activities in Money Bags. In addition, kids are limited to using certain coins, forcing them to keep finding new ways to count the coins.
7. Easy Money
Easy Money is over 70 years old! You buy and sell houses and build properties to earn as much money as you can.
Again, if you’re spending money anyway, make it an investment in your child’s future! You and your child will be glad you did.
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