One of the most important things we can teach our children is how to handle their finances. It always strikes me as really odd that this isn’t something our children are routinely taught in school. In years gone by, talking about money just wasn’t done. But if we don’t teach our children how to budget and how to handle their finances, how will they cope when they reach adulthood? Credit is all too easily available these days through credit cards and loans, and it seems as though as soon as children hit adulthood, they are being offered credit all over the place, so it’s really important they know how to budget the money they do have, and also understand what’s involved if they do take out a credit card.
Kids don’t want to be lectured about how to budget and how to take control of their finances, and they are unlikely to learn that way. Most children learn much more through play, and there’s no reason why you can’t teach your children about money through play too. I’ve been taking a look at the money games on offer on the Mortgage Calculator website and they have some fantastic resources covering lots of different financial areas:
- Money games
- Real estate games
- Food business simulation games
- Business simulation games
- Software development games
- Office politics games
- Other fun games
It’s great to be able to pick and choose the games our children play depending on what we want them to learn. I have a couple of favourites that I’ve tried out with my children.
I remember when I was a child, my Mum would give me a £5 note and ask me to buy certain things in the supermarket, she would then tell me to work out how much change I should get from that £5 note and count it at the checkout to make sure I got the right amount of cash back. The Cash Back game does just this. In the games, your child plays the cashier and has to give the customer the right amount of change. You can set the difficulty level and you can decide whether the game will display how much change your child needs to give. For my seven year old, I asked the game not to display the correct change so that he had to work it out himself.
LEGO City Adventures Build And Protect
My son loves lego, so this game was the perfect choice for him. The aim of the LEGO City Adventures Build and Protect game is to build a city full of thriving businesses which then earn the city an income through the taxes they pay. It’s a great way to introduce to children how businesses contribute to the local area and also that there are costs involved with running a successful business too.
*This is a collaborative post.