Money, children seem to think it grows on trees and want to spend it like it does. As a parent how many times have you told your child you couldn’t afford to purchase something they wanted only to have them say, “You can get more at the bank.” If it were only that easy we’d all be rich. Until they get older and start making their own money and paying their own bills many kids just don’t understand the value of money and will often spend it as soon as they get it. Teaching children how to handle money responsibly valuable lesson that will shape their financial future. Playing games together that teach the concepts of saving money and spending wisely are a great way parents can help their children learn about money and become financially responsible adults. To help parents pick the best games that teach children about money here are my top three choices.
Three Games That Teach Children About Handling Money Responsibly
1. Moneywise Kids by Talicor
This fun game that teaches the value of money is actually two games in one. The first game is called Bill Maker and gives children the opportunity to earn money and practice turning small denominations of money into larger ones. The second game called Bill Breaker gives children the opportunity to earn and spend money on real life expenses such as food, housing costs and taxes. It also gives them the chance to learn about making payments when they draw a hard luck chip which means a big bill. Both games are fun, fast paced and teach children about earning money,making change and budgeting. Moneywise is available on Amazon and retails for $10.75 and is recommended for ages 7 and up.
2. Learning Resources Money Bags A Coin Value Game by Learning Resources
In this fun board game children have the opportunity to earn pretend money for common household chores and learn to combine and count out change. Instead of allowing the child to choose what combination of coins they will take as payment the game further challenges children by giving them a direction such as take .27 without using nickels. This is a great way to teach children the values of different denominations of coins and how different coin combinations can add up to the same amount. Money Bags A Coin Value Game is appropriate for children 6 and up and is designed for two to four players. It retails for $13.76 and is available on Amazon.
3. Shopping Spree by John N. Hansen
In this and educational game children learn the concepts of earning, spending and planning ahead as they head to a local shopping mall with a pocketful of money. As they stop at each store they make a purchase. They have to decide how much they will spend in order to make it to the end of the game. If they overspend then they have to earn more money before they can continue on their shopping spree. Because it only uses denominations of .50 and a $ 1.00 Shopping Spree makes an excellent first game to teach young children about be responsible with money. Its recommended for ages 4 and up and can be played by two to four players. Shopping Spree can be purchased from Amazon and retails for $19.05
Games are a fun way to teach children about money and how to handle it responsibly. With a little knowledge of how earning and spending work maybe they won’t bug their parents to buy every item they see or at the very least they will have an appreciation of how hard money is to earn and how quickly it goes.