A lot of people do not have good control over their money because they never learned good money habits when they were children. Having a smart approach to money should start at a young age, even as soon as a child learns how to count. Kids learn the best when they are having fun. If you want to teach your children about money, try some of these cool money games for kids.
Kids love to pretend play. Find a toy cash register with play money, and play a game of store keeper. You can have your child be the store keeper with things that he can sell. Show him how to put a price tag on each item that he wants to sell. Then, you can take the role as the customer and go to his store to buy things. Show him how to make change from the bills you give him.
For older kids, you can even expand this into a way to teach them how to make a profit. Give them a certain amount of play money, and have them buy from you things that they wish to sell at their play store. Teach them to set their retail prices higher, but not so high so people are unwilling to pay. See how much “profit” they can make at the end of the game. This game works well with a bunch of kids because they can change roles and really haggle with each other on prices, making it a lot of fun.
One of the best board games to introduce kids to the concept of money is Monopoly. For young kids, there is a junior version that is simpler and shorter. The board game can often be modified by creating some house rules of your own to make it more interesting.
Have your kids design their own play currency. Have them make bills and coins out of paper that can be used in their imaginary world. Use a little of real money to exchange for their play money so that you can participate in their imaginary world. This will introduce them to the fact that real money also has to be made somewhere, and that one country’s currency cannot be used in another country without an exchange.
There are many online games for children that require them to find, collect and save coins in order to buy tools and objects they can use in their game. These are both fun and educational, as the kids will learn how they sometimes have to save up their coins in order to buy something that they really want. This can directly translate into a real-world application when they go shopping with you with their own money.
These money games for kids can teach your children how to value money as a resource that should not be wasted. They will learn how to make decisions on the money that they have. This is a good way to introduce them to good money management habits that will stay with them as they mature into working adults.