Interested in teaching kids about money? Financial literacy can be fun when you make a game of it.
Help kids gain familiarity with money, understand the value of coins and learn some elementary economics lessons with these activities. Your child will be a money master in no time!
These simple games get parents or older siblings involved in teaching youngsters about money. These ideas come from kindredbond.com.
- Coin Memory: Tape or glue two of each coin to index cards. Put the cards face down on the table just as you would for any memory game. Have your child draw two cards. If he or she is able to make a match, ask your child to state the name and the value of the coin. If the cards are not a match, turn them back over and let your child try again.
- Candy Store: Set up a pretend candy store in your home. Price several different pieces of candy for purchase. Start with easy price tags such as 1 cent, 5 cents, 10 cents and 25 cents. Give your child a bag full of coins to purchase the item of his or her choice. Have your child give you the correct coin to pay for the item. Once your child gets the hang of this game, he or she can move on to buying more items at a time or you can increase the price tags for a more challenging game.
A board game might be just the thing to learn about money management. About.com has the top 9 board games that teach kids about money, keeping in mind that they are best for children 8 and older:
- Game of Life
- Moneywise Kids
- Money Bags
- Easy Money
- Exact Change
- The Allowance Game
Allowing your child to use an iPad or other electronic device might make these educational opportunities more appealing. These online games will keep kids occupied and learning.