Family Game Night – Fun with a Twist of Financial Education
Here are some classic board games that we recommend for family fun that also happen to be great tools to help teach our kids about everyday finances:
You know it, maybe you love it, but it’s almost a certainty that you’ve played it. Monopoly, the granddaddy of all board games, is also is a great way to introduce kids to the basics of investing and preparing for unexpected expenses. Although the game can get quite competitive, it’s a great way to start a conversation of the importance of financial planning and investing in our future selves.
The Game of Life
Likewise, The Game of Life offers several opportunities to start financial conversations with your kids in the guise of simple family fun. The very object of this classic board game is planning for the future, handling real-life events and dealing with the ramifications of the “choices” that come arise, like education & careers, starting a family, and how well you’re prepared for retirement. It’s never too early to start these discussions and develop an understanding of life’s great choices while they’re still kids.
If you ever wished that you’d learned more about basic budgeting and monthly expenses when you were young, you should’ve played more Pay Day. In this game, you must deal with bills and expenses while earning an income. In particular, players encounter unexpected expenses that highlights the need for emergency savings. The player with the most money left at the end is declared the winner. Nobody wants to end with the least money, right?
There’s a good chance these popular games are already in your home; if not, you might be able to snag copy when you run out for supplies or get Amazon to deliver them right to your doorstep. Either way, we firmly believe that a family game night is not only a way to enjoy quality time with your loved ones, but also an opportunity to serve up some educational moments that help build a foundation of your child’s financial future.
Share this post
June 13, 2017
When I got the itch to buy my first new car, I asked my dad if he would …Read More about To Cosign or Not to Cosign: It’s a Big Question
January 20, 2021
Your child’s first savings account is a key tool in building positive money relationships early. Month to month …Read More about A Parents' Guide to Maximizing Your Child’s Savings Account
March 20, 2021
If we've learned anything over the past year, it's that we never know how the world around us …Read More about Talking To Teens About Household Finances