One common way to try to teach children about anything is to put information into game form. Here are some games that will help your kids learn about money and have fun while doing it!
- Pay Day
Pay Day helps teach kids where money goes. It instructs on the fundamentals of budgeting and helps encourage and entrepreneurial spirit.
- Dave Ramsey’s ACT Your Wage! Board Game
If you’re a fan of Dave Ramsey’s money principles, you’ll like the Act Your Wage! board game. The main purpose of the game is to:
- Save $1,000 into an emergency fund
- Budget spending using the envelope system
- Pay off debt using Ramsey’s snowball effect
- Be the first player to get out of debt and yell, “I’m debt-free!”
- Charge Large
This game can help kids see that using credit card is simple and can help you get what you want, but eventually it will lead to expensive debt if they do not use credit cards wisely.
For a player to win, they must upgrade to a black card, save $2,500 in cash and have zero debt. While some families wish to be 100% debt-free and never rely on credit cards, there are times when individuals will need to take out loans or use a credit card. Telling your children just to avoid credit cards altogether could backfire on you – since they will them be lured by the temptation of “free money” later in life, not fully understanding the consequences of debt.
- Cash Flow for Kids
Finance guru Robert Kiyosaki developed Cash Flow and Cash Flow for Kids board games. This game teaches children the difference between assets and liabilities. It also teaches basic accounting and investing, while emphasizing the importance of passive income and giving money to charity.
Playing games can be a great way to keep kids’ interest as they learn about money and saving. Take what is learned from the games to the next level by opening a youth account with Health Care Family Credit Union!