Instead of heading out to spend, spend, spend on costly activities, why not offer the kids the chance to be wealthy real estate magnates, detectives or commanders set on world domination?
Sounds like a reasonable way to spend an afternoon- and you don’t even have to leave the house. And even better, you can be teaching some sneaky life lessons at the same time with some of these classic board games.
This classic has been around for generations and there is a reason why. It’s fun, competitive and has concepts that kids can grasp. In terms of money management lessons, this game is hard to beat. You learn about saving, dangers of overspending, investing, patience with money- and most importantly the sting of paying bills when you’ve overextended your finances.
This game gives kids a snapshot into the idea that life is a journey, with various milestones and experiences to be met along the way. It also lets them consider the costs associated with some of these milestones and the decisions around them.
Talk about budgeting 101! The game board is actually set up like a calendar, and you’ve got to navigate the month managing your cash flow and expenses, while juggling savings. This is the definition of hands-on experience.
Chutes and ladders
What’s that they say about best laid plans? You can set a goal and be well on your way, when something knocks you sideways, putting some serious distance between you and that goal. You’ve got two choices- keep on rolling the dice and get back on track, or pack it in- which is applicable to several situations your kids will encounter on their own journeys.