- Date : 01/09/2020
- Read: 5 mins
They say ‘old is gold’ and that is true for board games too! With these fun financial board games, you can easily reduce your kids’ screen time.
Keeping your kids entertained and away from the screen may have become difficult since the pandemic broke. With video games, movies, cartoons, and now even their classes going online, you may be running out of ideas to keep them entertained without increasing their screen time.
Classic financial board games could be just the thing! They are a fun way to teach your children important lessons about money and life. Instead of having a sit-down conversation with your kids about money when they are older, you can introduce basic concepts such as saving, investing, and other money management essentials at a young age naturally through such games.
Here are some of the best financial board games that you can play with your kids.
1. Monopoly
It's a classic! You might have played Monopoly with your parents when young and still remember all the money lessons that came with it. The game was introduced in the early 1900s, with the early version being called ‘The Landlord’s Game’. At its core, the game is a great example of how wealth generation works in a rather capitalistic world. So Monopoly is still as relevant today – perhaps even more.
This board game involves purchasing and building cities with properties such as houses and hotels by borrowing money from the bank. The players then earn rental income from these properties, all the while paying back the bank, and the city keeps flourishing.
Money lessons: Monopoly can teach your kids some very fundamental lessons of investing, such as the need to save and invest early or else be forced out of the game later. It will also teach them to not put all their eggs in the same basket by diversifying the kind of properties they choose to invest in. Finally, you can, through the game, teach your kids how to build passive income and how fruitful it can be.
Where to buy: Amazon, Hamleys, Flipkart
Price: Rs 600 onwards
Age: 8+
Related: How to successfully homeschool your kids during the pandemic
2. The Game of Life
Another classic board game, The Game of Life was first created way back in 1860 and was originally called ‘The Checkered Game of Life’. For the longest time, it was the most popular game in the US – and when its modern version came to India, the popularity remained intact. That’s because this board game really imitates the journey of life and its major milestones.
From college and first job to marriage and retirement, The Game of Life simulates a person’s life and also the financial cost of the same. Each player gets to spin a wheel and follow the instructions. The more the number of players, the more interesting the game is.
Money lessons: The one major money and life lesson you can teach your kids through this board game is the need for financial planning and why it’s central to a smooth life. From getting insurance policies for one’s home and car to saving for retirement, it lets your children figure out the basics of personal finance.
Where to buy: Amazon, Hamleys, Flipkart
Price: Rs 800 onwards
Age: 9+
3. Payday
You may have not heard about this board game before, but it’s just as much a classic and has been around since 1975. Its from the makers of Monopoly and one edge it has over other games of this type is that it’s quick. One round takes only about 15 minutes, unlike Monopoly, which can seem to go on endlessly. This means you can find time amid all your chores and obligations to play it with your kids regularly.
In this financial board game, each player earns a paycheck. They have to use it to pay outstanding bills and invest the remaining cash in properties. Payday requires a minimum of two players.
Money lessons: Kids can find it hard to grasp the concept of money because they have no job or income. Nor do they have to pay bills or shoulder expenses. This game, however, can teach them the value of money and budgeting, and the responsibilities one has as an adult.
Where to buy: Amazon, Hamleys, Flipkart
Price: Rs 1800 onwards
Age: 8+
Related: 7 Fun ways to keep your children engaged during the lockdown
4. Time and Money
If you have younger kids, this game can be a great pick for your family! It can help lay a solid foundation for mental arithmetic because there are a lot of calculations and decisions to be made. There are about 15 engaging activities that focus on the importance of time and money management.
For instance, in one activity, the kids are tasked with buying products at a school stationery shop that has a discount going on. They are expected to calculate how much a product will cost after the discount and then decide if it's worth buying or not.
Money lessons: Time and Money introduces integral concepts of saving and spending to kids in a way they can grasp easily. In addition to basic arithmetic, the game also involves critical thinking and decision-making.
Where to buy: Amazon, Hamleys
Price: Rs 699 onwards
Age: 6–9
Related: 7 Movies that teach kids important life lessons
You can easily buy these financial board games online and start having game nights on weekends. Prepare some snacks, set up a table, and kick off a fun family tradition! Here's a mother’s guide to raising financially responsible children.
Keeping your kids entertained and away from the screen may have become difficult since the pandemic broke. With video games, movies, cartoons, and now even their classes going online, you may be running out of ideas to keep them entertained without increasing their screen time.
Classic financial board games could be just the thing! They are a fun way to teach your children important lessons about money and life. Instead of having a sit-down conversation with your kids about money when they are older, you can introduce basic concepts such as saving, investing, and other money management essentials at a young age naturally through such games.
Here are some of the best financial board games that you can play with your kids.
1. Monopoly
It's a classic! You might have played Monopoly with your parents when young and still remember all the money lessons that came with it. The game was introduced in the early 1900s, with the early version being called ‘The Landlord’s Game’. At its core, the game is a great example of how wealth generation works in a rather capitalistic world. So Monopoly is still as relevant today – perhaps even more.
This board game involves purchasing and building cities with properties such as houses and hotels by borrowing money from the bank. The players then earn rental income from these properties, all the while paying back the bank, and the city keeps flourishing.
Money lessons: Monopoly can teach your kids some very fundamental lessons of investing, such as the need to save and invest early or else be forced out of the game later. It will also teach them to not put all their eggs in the same basket by diversifying the kind of properties they choose to invest in. Finally, you can, through the game, teach your kids how to build passive income and how fruitful it can be.
Where to buy: Amazon, Hamleys, Flipkart
Price: Rs 600 onwards
Age: 8+
Related: How to successfully homeschool your kids during the pandemic
2. The Game of Life
Another classic board game, The Game of Life was first created way back in 1860 and was originally called ‘The Checkered Game of Life’. For the longest time, it was the most popular game in the US – and when its modern version came to India, the popularity remained intact. That’s because this board game really imitates the journey of life and its major milestones.
From college and first job to marriage and retirement, The Game of Life simulates a person’s life and also the financial cost of the same. Each player gets to spin a wheel and follow the instructions. The more the number of players, the more interesting the game is.
Money lessons: The one major money and life lesson you can teach your kids through this board game is the need for financial planning and why it’s central to a smooth life. From getting insurance policies for one’s home and car to saving for retirement, it lets your children figure out the basics of personal finance.
Where to buy: Amazon, Hamleys, Flipkart
Price: Rs 800 onwards
Age: 9+
3. Payday
You may have not heard about this board game before, but it’s just as much a classic and has been around since 1975. Its from the makers of Monopoly and one edge it has over other games of this type is that it’s quick. One round takes only about 15 minutes, unlike Monopoly, which can seem to go on endlessly. This means you can find time amid all your chores and obligations to play it with your kids regularly.
In this financial board game, each player earns a paycheck. They have to use it to pay outstanding bills and invest the remaining cash in properties. Payday requires a minimum of two players.
Money lessons: Kids can find it hard to grasp the concept of money because they have no job or income. Nor do they have to pay bills or shoulder expenses. This game, however, can teach them the value of money and budgeting, and the responsibilities one has as an adult.
Where to buy: Amazon, Hamleys, Flipkart
Price: Rs 1800 onwards
Age: 8+
Related: 7 Fun ways to keep your children engaged during the lockdown
4. Time and Money
If you have younger kids, this game can be a great pick for your family! It can help lay a solid foundation for mental arithmetic because there are a lot of calculations and decisions to be made. There are about 15 engaging activities that focus on the importance of time and money management.
For instance, in one activity, the kids are tasked with buying products at a school stationery shop that has a discount going on. They are expected to calculate how much a product will cost after the discount and then decide if it's worth buying or not.
Money lessons: Time and Money introduces integral concepts of saving and spending to kids in a way they can grasp easily. In addition to basic arithmetic, the game also involves critical thinking and decision-making.
Where to buy: Amazon, Hamleys
Price: Rs 699 onwards
Age: 6–9
Related: 7 Movies that teach kids important life lessons
You can easily buy these financial board games online and start having game nights on weekends. Prepare some snacks, set up a table, and kick off a fun family tradition! Here's a mother’s guide to raising financially responsible children.
