How To Teach Your Kids About Money Through Board games…Just In Time For Holidays
The holiday season is officially here, and there’s plenty of talk about wish lists, budgeting and money. Financials are on everyone’s mind around Christmas time, with extended expenses across various categories from groceries to gifts and even traveling. The Miami accounting experts know that money is perhaps even a discussion at home, with parents choosing to include the kids in money matters conversations.
Miami accounting experts takes a look at some of the most popular board games for your kids:
Pay Day: Great for age 8 and up
This is a classic game created back in the 70s, where kids can earn a paycheck, pay their bills and even buy property… all in just 15 minutes. Players can even take out a loan, and even increased at $100 increments. They also have a chance to add to their savings. You can find it on Amazon for about $15.
Thrive Time: Great for teens
You can teach your kids about money with this board game as it takes them through life’s milestones. From student life to getting a first car to paying monthly bills to starting a business or even donating to charity, it’s a fun way to teach teens about money through real-life scenarios. Thrive Time comes with 120 cards and play money, a balance sheet for trackable income and bills.
Act Your Wage: First to be debt-free wins!
This board game teaches life-changing money principles where the whole family can earn a salary,save and pay down debt. The point is to be debt-free, have an emergency fund, use the envelope system for expenses and the like. Act Your Wage is created by America’s trusted voice on money and business, Dave Ramsey. He’s heard by over 16 million people every week on more than 600 radio stations.
The Stock Exchange Game: Learning about economics not just cash
Teach your kids about money by having them build a stock portfolio! Buy and sell stocks, make mergers and acquisitions, be in charge of a hostile takeover, the Stock Exchange Game provides all of that and more. The Miami accounting experts found out this board game is a tad more conceptual since you’re not really dealing with cash, so players 10 and up are best suited to play. The best part? Having the most money to retire!
Allowance: Win in 15 or 30 minutes
You can play this game with kids as young as five years old. Allowance includes chores that kids can do to earn money and spend it on things they want. They can also start their own business, earn interest on bank deposits, even make money by losing a tooth. Allowance comes with dices and fake $1 and $5 bills, along with plastic nickels, dimes, and quarters. It’s a chance to learn how to count money, make change, and flex those entrepreneurial muscles.
If you need more advice from a Miami accounting experts contact your Miami financial consultants at 305.868.7620