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The post provides 5 games to enhance financial literacy among kids. As a parent, you want the best for your kids. Wanting the best for our kids is a natural feeling every parent has.
We all want the best for our kids, so we go out of our way to make sure they get everything they want in life. We send our kids to the best of schools, we get them the best of toys to play with, we take them to Disneyland for vacation, and we do everything humanly possible to keep them happy.
What I’ve seen with most parents though, is that they usually forget to teach their kids the most important skill they will ever need to be successful in life. In essence, we fail our kids by not teaching them the skill of making money or in other words, “how to be financially savvy”.
Using games to teach kids financial literacy is actually a win-win situation for everyone. Your kids get to play games (which is an activity they love to do), and you get them to learn a new skill that would better prepare them for the future.
You may think they are just kids, and there’s no need to teach them how to be financially savvy yet! But the truth is, it’s never too early to teach your kids how to be financially responsible. This is an aspect of your kids lives that you can’t delegate to our school system as financial literacy is inadequately covered in schools.
As a parent, you have to take it upon yourself to teach them what it takes to be financially savvy. It is to your kids’ advantage to using games to learn how to become financially savvy because they can take a financial risk without being penalized for it.
In this article, we will show parents how they could teach their kids to be financially savvy using fun games. The games will expose them to the rules of money; How to make it, keep it, and make it grow.
4 Games to Enhance Financial Literacy
Below are the four games we recommend for kids to start playing to become financially savvy.
Cashflow For Kids By Robert Kiyosaki – Games to Enhance Financial Literacy
Robert Kiyosaki is an authority in the field of personal finance. His game cashflow 101 has been adapted for kids to learn the rules of financial independence. The game is a simple yet intuitive game about investment that teaches kids financial and accounting principles.
The premise of the game is based on an investor with excess cash that must find investment to put it into before he loses it to tax audits and lawsuits. The game differentiates between assets & liabilities and also teaches the importance of passive income and giving to charity.
Monopoly – Games to Enhance Financial Literacy
The classic game of Monopoly is a favourite game of ours that would teach your kids a lot about handling their finances and making financial decisions. The game teaches the concepts of real estate investment – how to buy, own, trade, and sell properties. With your kids playing the age-old financial game, they will pick up negotiation tactics, banking and strategic thinking skills.
PayDay – Games to Enhance Financial Literacy
The game of Pay Day simulates a typical work month in an employees life. The game teaches kids about money management principles while showing kids where the money goes. In the game, players have to deal with expenses and bills, while also earning money from their real estate properties.
At the end of the month, players have to pay off all their outstanding bills from their monthly income. The game is great for teaching kids about budgeting and encouraging their entrepreneurial spirit.
Charge Large – Games to Enhance Financial Literacy
This is an innovative game that teaches kids how to get out of debt. While it seems the game promotes the use of credit cards, the ultimate goal is to be debt-free. ‘
It’s scary what credit card debts can do to an adult, and that’s where this game comes in. The game teaches kids how to use credit cards the right way. The game shows kids how using credit cards can lead to high debt if not done properly.
There you have it, 4 games that would teach your kids how to become financially savvy in no time.
For paying financial games do follow the link https://www.incharge.org/tools-resources/personal-finance-games/
Elijah Adah is the founder and CEO of Rextic Media, a full-service digital marketing agency that helps small businesses grow and increase revenue and profit. He is a full-stack web developer by day and by night, a writer. He writes on tech, business, startups, marketing, travels & pretty much any topic that catches his fancy. He is also an Otaku (Japanese anime addict) while not coding or writing.