As we raise children, it is important that we support them in developing good financial habits and awareness. But this can be a challenging task, especially with the abundance of information out there that includes complex financial concepts. However, introducing children to educational games that teach financial management can be a fun way to impart money-smart skills.

So, here are some game suggestions that will help your children learn about finance!

The Game of Life

The Game of Life is a classic board game that teaches kids about managing their money and making smart financial decisions. Players start by selecting a career and then making choices about investing, budgeting, and managing expenses throughout their lives. The game provides a lead into starting conversations about life goals, budgeting, and savings, making it an excellent choice for parents looking to teach their kids about financial literacy.

2. Monopoly

Monopoly is a timeless game that has been played by generations of families. The game teaches players about the importance of investing, saving, and budgeting. In Monopoly, players buy properties and make investments and build assets. It’s a great way to teach kids about the importance of owning assets, generating income, and investing wisely.

3. Cashflow for Kids

Cashflow for Kids is a board game designed by Robert Kiyosaki, the author of the bestselling book “Rich Dad Poor Dad.” The game teaches children about financial concepts such as assets, liabilities, and cash flow. Players learn how to make smart investment decisions, manage debt, and build wealth.

Online Games

The Lemonade Stand Game

The Lemonade Stand Game is a free online game that teaches children about running a business. Players run a lemonade stand and make decisions about pricing, inventory, and advertising.

2. Financial Football

Financial Football is an online game developed by Visa in partnership with the National Football League. The game is designed to teach kids about money management and financial literacy while combining the excitement of football. Questions about personal finance and money management are asked in between plays, wherein players choose a team and compete against the computer or another player.

3. Bankaroo

Bankaroo is an online game that teaches kids about budgeting, saving, and money management. The game simulates a virtual bank account where kids can create goals, track their spending, and learn the importance of saving.

4. ThriveTime for Teens

ThriveTime for Teens is an online game that teaches teens about financial concepts such as assets, liabilities, and cash flow. Players are faced with money and decisions related to big purchases, managing expenses, giving back to the community, using credit cards, buying stocks and starting businesses. It educates children about making positive financial decisions.

5. Peter Pig’s Money Counter

Peter Pig’s Money Counter is an online game that teaches kids about basic financial concepts such as counting money, saving, and spending. Players are asked to sort and count coins in order to help Peter Pig save money. The game is suitable for younger children and provides a fun and interactive way to learn about money management.

DIY Games

Use a Calculator

A really fun way to introduce your children to money management is using calculators to do some budgeting together. You can sit down with your kids and have them help you do the budget for the week or the month and use calculators to estimate the savings as well as expenditures.

2. Story time

The easiest and by far the most interesting way to get your children involved in learning about money based concepts is to narrate them stories that use financial concepts. You can look at buying some books or even create your own story using some everyday finance related terms.

3. Dramatic Play

Children love socio dramatic play and this is quite a great way to get them into the practice of money management. You can organise a grocery shop and setup some items for sale, and children could price these items and sell it, like the way it works in stores.

4. Real-world Excursions

An exciting way to introduce your children to money and finance is by taking them to locations like the bank and even supermarkets. Children can ask you questions here and you can help them understand some key finance related ideas and concepts.

These games can prove to be really fruitful to educate your children about finance and at Cogito Metaverse too, we are building ways to contribute to this. Our upcoming launch, the Pocket Money App is a step in this direction. This app is going to allow families registered with Cogito to teach their children about money management and life skills. We are confident that the Pocket Money App’s interactive presentation and effective execution will help children develop good financial habits and build a strong foundation for their financial future.