Teaching your children about money is often much easier if it is fun and games rather than schoolroom learning. Here are a few fun games you can play with children to teach them about money. Fake investing. Teach your children about the stock market and then pretend to “buy” a few shares in various companies. Check the newspaper each day or once a week to see how much your “investments” have decreased or increased. Keep track of your progress on a large poster in the kitchen.
Coin collecting. Coin collecting is lots of fun and lets your children learn about history (when they find old coins) and other cultures (when they find coins from other countries). Look through coin jars in your home to see what sorts of treasures you can find and help your child determine which coins are worth more due to their age.
Spotting counterfeits. Teach your child to spot counterfeits. Not only is it fun to spot differences in bills, but it is a practical skill for your children to have.
Museum visits. Call around to find out which museums in your area have kid-friendly fiscal exhibits. It’s a great way for your children to learn while also having a fun day out. Budgeting board game. Create a board game where players have to make financial decisions such as paying bills, buying groceries, and saving money for a goal. Each decision affects their budget and they have to make strategic choices to stay afloat. This game teaches children about budgeting and financial responsibility in a fun way.
Garage sale challenge. Have a garage sale where your children can sell their old toys and clothes. Encourage them to set prices and negotiate with customers. This game teaches children about entrepreneurship and the value of money. Savings jar. Give your child a clear jar and encourage them to save their spare change. Once the jar is full, take it to the bank together and deposit the money into a savings account. This game teaches children about the importance of saving and delayed gratification.