Simply bringing up the subject about teaching your children about money matters can instantaneously cause huge amounts of sighs and displeasure. But it is something that we as parents to need to encourage in our children. Boring educational material about money, credit and investments will discourage anyone from learning valuable information that will be beneficial in long run when your children need to make wise financial decisions.
Thankfully, there are some stunning educational games on the market that will make learning about money and how to manage your funds easy and fun!
Some of these board games have been popular for years as continual revisions of these winning games keep them relevant in today’s financial world while teaching players how to build wealth and minimising debt.
From Monopoly to Cashflow 101 here are some of the better choices available:
Robert T. Kiyosaki of “Rich Dad, Poor Dad” fame created Cashflow 101. This game teaches players how to take charge of their personal finances, helping them to understand cash flow principals and give them the confidence to make real estate decisions.
If you are looking for a game with more detail then look no further. The lessons learnt are as follows:
- Basics of investing
- The difference between assets and liabilities
- The importance of understanding a financial statement
- Basic personal accounting
- Advanced investment techniques, such as short-selling stocks, puts and calls, and real estate investment strategies
Who hasn’t heard of Monopoly? One of the most popular board games ever made, this well loved game first appeared back in the early 1930’s. Players move around the board, collecting cash, buying up property, mortgaging it, collecting rent and erecting buildings. Players do all this while trying to stay out of jail or running out of money. The player with the most property and highest net worth is the winner.
What it will teach:
- Managing cash or financial transactions
- Dealing with financial blows, such as taxes and emergencies
- Balancing cash flow by earning income (collecting cash as you pass “Go”) and saving
- Financial negotiation as cash dwindles and real estate holdings grow, giving players the opportunities to negotiate private mortgages to acquire more cash
- Basic financial math skills
- Investing in and improving real estate
If, just like me, you have never grown out of playing games to win money then the SuperEna Max is just for you! After all selecting a few lucky numbers, throwing in some cash and dreaming of a huge financial win can never get boring!
Go for it! There’s €108,000,000 up for grabs in tomorrow night’s draw!
We would love your hear what board games you played or still play. Why not tell us in the comments section below and remember, your comments will gain you LottoPoints!