Top Board Games That Teach Kids about Money

Children love to play games and there is no substitute of fun for them. If their mom or dad joins the game, they have even more joy and if they can teach something to their kids while playing, even better! How about teaching your kids some money management skills?

It’s possible through educational board games that you can teach kids about money management. Kids who feel bored while learning finance can get a chance to discover ways to manage money through such educational games. These games work wonders in instilling financial concepts and skills which help them for a long period of time. There are various board games that teach financial literacy to kids. Here we share a few of them:

Cash Flow 101 Game

This is a popular game among kids that teaches crucial money skills. There have been some editions in the game that includes different graphics, improved color and instructions. The game imitates the financial lives of people. The player with the highest cash flow is declared as the winner. This is quite an interesting and unique game to make children understand the importance of money. Children learn two things out of this game. Firstly, low monthly expenses create positive cash flow, leaving more money in your hands. Secondly, passive income generating deals make more money to invest. So, it’s best to start with smaller deals.

Monopoly Board Game

The game is available in various versions and languages across many countries. The theme takes in players playing the role of landowners and developing their properties. During difficult phases, the players may have to raise cash by mortgaging their properties. The winner is the one with highest net worth based on the property and cash he earned by the end of the game. There are plenty of lessons one can learn from this game such as: always keep cash for contingencies otherwise you would end up selling your property at a low price, have some patience because you can’t win every piece of the property, before buying an asset focus on cash flow and cost paid to attain cash flows and spread out your investments across many areas.

Settler of Catan Board Game

This highly rated board game has won many awards and involves multiple strategies and variations to the rules. In this board game, players act as settlers developing resources and trading. The player who gets 10 victory points first becomes the winner. Lessons learned from the game consist of a plan after data analysis, try to occupy the right place before others do and try to understand how your strategy can bring about the best results.

Moneywise Kids

In this game, each player starts with $100 and earns money for each roll. But, the players must also draw markers for real life expenses such as: food and taxes which they can select to buy to put back to buy later on. So, the first person to have 6 money wise expense tokens and still possess $100 in the bank is the winner. Kids get to learn a lot of essential financial aspects like paying bills, money math and saving before spending. 2 players can participate in the game.

The above mentioned are just a few insights of what your kids can learn from these spectacular board games. Many other lessons can be learned while playing these interesting yet captivating games. All the best for your family game day! Hopefully, your kids will like the educational board games and will learn some money management skills too.