They say that the best time to learn is when you’re young and you can teach your kids about personal finance today in a fun and educational manner. The best thing is that kids are always asking you for games to play to keep them entertained and there’s nothing better than learning while having fun. This article gives a rundown of the 3 best games kids can play to learn about personal finance.
1. Monopoly – a legendary and highly educational board games. As adults we probably played this game ourselves in our younger days and had heaps of fun. The money lessons from this game are still relevant today. Kids are forced to make decisions as to whether to buy or sell property and then as their financial situation changes, make further decisions. We, as adults, make financial decisions everyday and so it’s great that kids get exposed to that early.
2. Game of Life – a more modern game, yet still very educational. If you haven’t heard about the game, it explores the decisions we make and the paths we take in life. Eventually, the amount of money that we earn gets affected and you learn how to manage this. The closest thing to a real life game.
3. Cash Flow For Kids – invented by financial expert and motivational speaker, Robert Kiyosaki, it is probably the first game ever invented with the goal of making children more financially literate. It introduces kids to the concept of assets and liabilities as well as passive income. Probably the best game for kids out there today.
Whatever you decide to do, you must try to financially educate your kids from a young age. You may use other means with which to do this, but there’s probably nothing more exciting than personal finance games for your kids.