Do your kids know about finance?

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As parents you always try to make the best decisions for your children. You always want to make sure they get the best experiences and advice to help them to grow up to be successful adults; which is why it’s surprising that so few parents don’t talk to children about money and finances. Given how important being financially savvy is to navigating through life, it should be something that we teach our kids. But as all parents know, getting children to sit still and listen can be a challenge, so here’s a few games that are based around money that will make learning the world of finance fun:

  1. Pay Day

The classic money management game is great fun for children and adults alike. It helps with the basics like where money is spent, the fundamentals of budgeting and also helps to build that all important entrepreneurial spirit.

  1.  Cash Flow for Kids

This game is developed by finance guru and best-selling author Robert Kiyosaki. It’s aim is to teach children the difference between assets and liabilities, accounting and investing, the importance of passive income and giving to charity. There is also an adult version of the game, recommended for anyone over 12.

  1. Net Worth

Net Worth is a card based game where the goal is to collect financial assets and get out of debt. It also gets children to strategise how to navigate financial perils, such as a stock market crash. The winner is the player with the highest net worth at the end of the game.

  1. Daytrader

This game is similar to the classic Monopoly but it’s much faster in pace. It’s all about teaching children (and sometimes their parents) about the stock market. The best thing about this game is that you don’t need any financial knowledge to start playing, but by the time you’ve finished you’ll have a good grasp about how the market works.

  1. Act Your Wage!

This is a fun board game that introduces your children to financial thinking. The main principles of the game are to:

  • Save $1000 into an emergency fund
  • Pay off debt
  • Budget spending

The winner is the first player to get out of debt and shout ‘I’m debt-free!’ The steps in this game are great introductions to good money habits. It’s also a great game to open the wider conversation about the consequences of debt.

Here at Monese we recognise the need to keep on top of your finances, which is why our app lets you stay completely up-to-date with your balance. It also lets you track your transactions, so you can make sure nothing gets missed.

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