Start Early! 5 Financial Literacy Games For Kids That Will Make Them Understand Money
Understanding how money works isn’t as easy as many think, a reason why so many are struggling with debt, poor, or always plain broke.
It’s amazing that even after clear evidence that money is a key need in human lives, no school is focused on teaching and educating kids on how to handle it.
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In fact, in December of 2019, The National Financial Educators Council (NFEC) in the US asked nearly 7,000 teens and young adults (aged 15-18) across all 50 states to respond to a test measuring their current personal finance knowledge.
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This 30-question quiz assessed respondents’ capability to earn, save, and grow wealth. According to the results, the average level of money management knowledge among the sample was 64.9%.
Games are one of the best ways to teach your kids how to understand, use and multiply money.
Of course, children don’t have to go it alone. An adult should guide them along, helping to explain concepts and the impact of their choices.
Below are games that will you and your kids improve financially.
Board games
Board games like Monopoly and monopoly junior go a great length in money education.
Other board games for kids include:
Cashflow
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Online games
There are thousands of games online that can help your kid grow money-wise. Instead of wasting hours and hours in non-helping games, let your kid focus on these games and build him/herself financially.
These games include: Peter Pig’s Money Counter, Apps like Savings Spree, Renegade Buggies, and Bankaroo also teach about financial responsibility.
Programs and Apps
Educational apps and software programs can be another avenue for teaching kids about money.
With younger kids, for example, research shows that apps that target math skills and literacy skills can build a stronger cognitive and academic foundation, both of which can help with money management.
Follow this link to get a full look at some of these games and Apps that will help you and your child grow financially. CLICK HERE
