If you’re looking for board games you can use to teach kids about money at home and in the classroom, we’ve curated a list of our absolutely favorites!
The Importance of Teaching Kids About Money
Knowing about money and how to handle it is a life skill every child should learn.
By strengthening your child’s money skills, they can improve their math skills as well. Both of these skills will help your child gain lifelong confidence.
They will be able to understand the value of a dollar, how money works, as well as how to earn and spend money.
At What Age Should I Start Teaching My Kids About Money?
Most financial habits are formed as early as age 7. And kids are able to start retaining skills about money as soon as age 3.
The sooner you begin, the better their chances of financial success in the future.
They will not only develop good money habits, but they will be able to better avoid financial mistakes and pitfalls.
5 Tips to Get Started
Get started teaching your kids about money with these 5 tips:
- Show them – Talking about money with your kids is important. But showing them how to use money is more powerful than a lecture. Show them that money has value by letting them count and hand the money over to the cashier and then receiving that bag of groceries or new toy. They will learn that money can help us buy the things we need and also the things we want.
- Be a good example – You are your child’s best example. Whenever you can, use cash when making a purchase in a store so they can see the process of counting dollars and making change. Try to avoid stressing or arguing about money in front of them so that they view money as a positive thing.
- Avoid an allowance – By giving an allowance for no reason at all, you’re missing the opportunity to teach your kids that money has to be earned. The money that you give them each week or each month should be because they have completed a chore or task like making their bed, cleaning their room, helping do laundry, or mowing the lawn. THIS POST has lots of great age-appropriate chores to choose from.
- Start saving – Whether you put it in a jar, a piggy bank, or a bank account, your child can start saving money. Watching it grow is fun! If your child is younger, finding a clear container can make the process more visual. They’ll be able to see their money grow every time they add a quarter or a dollar bill.
- Make it fun – Finding a fun and creative way to teach kids about money can make it feel less like learning and more like a game. And what’s more entertaining than a board game? The next section will give you 8 board games that will make it FUN to teach kids about money, both at home and in the classroom.
8 Board Games to Teach Kids About Money
Think beyond the traditional money games that you grew up with and try one of these 8 super fun board games to teach kids about money.
The Allowance Game
Best for ages five and up, this game from Lakeshore will help your child learn how to handle money, make change, and practice their addition and subtraction skills. By doing chores, they will earn an allowance. They can then decide if they want to spend it or save it.
Buy It Right
Strengthening math skills like addition, subtraction, multiplication, division, and decimals, this game feels very realistic. Although it’s best for 4th to 6th graders, this game can be played by younger kids as well with just a few small tweaks. Kids will have fun using the paper money and coins, as well as the calculator.
A classic money game that originally came out in 1975, Pay Day is a fast-moving game that only takes 15 minutes to finish! What’s made this game so popular are the skills it teaches – earning a paycheck, paying bills, and creating passive income. It’s best for ages 8 and up, but can be enjoyed by the whole family.
This game is fantastic for teaching coin counting. In addition to teaching addition and subtraction to kids 7 and up, it will help inspire a good work ethic. Kids are able to earn money by completing chores or starting their own small business.
Even though it’s technically not a board game, Making Change offers a unique way to teach children the value of different coins and bills. This card matching game can be played by preschoolers and elementary schoolers alike. It’s perfect for visual learners and is easy to learn.
Kids become sandwich artists, creating sandwiches to sell and earning tips. While playing, they will be laughing, having fun, and learning how it feels to get paid for a job well done. This is a game that kids and adults of all ages can play together.
Ice Cream Empire
Who doesn’t love ice cream? Kids from age 7 all the way to adults will have fun playing together. This game will improve money, math, and even geography skills. It also allows kids to strengthen their business and entrepreneurial skills.
Game of Life Junior
This classic board game has a version just for younger kids. Perfect for ages 5 and up, it teaches kids about financial responsibility, including car and mortgage payments, debt, taxes, and having a salary.
Start by choosing the right game for your child’s age. By doing so, you can find a game that utilizes their skills in the best way possible, avoiding boredom or getting frustrated playing a game that’s too hard.
By playing a game with your child, you’ll not only have fun, but you’ll be able to connect as a family. You may be surprised how much both of you can learn!