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I've heard that giving allowance is one approach to develop an understanding of money management. What other ways are available to teach kids about the benefits of savings?

edited Jan 12 at 14:34

asked Nov 23 at 17:32

Zephyr♦
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YMCbuzz · Accepted Answer · 2009-11-25 19:05:22Z UTC

I found this great resource at MarketWatch.com - a listing on online games that help parents teach kids about saving and finance, set up by age group.

Here's an example of some of the content:

For children six to nine: www.fleetkids.com, sponsored by the Fleet Bank, has great games -- like "Buy lo, Sell hi" and "Chunka Change" -- that teach kids about spending and saving. Kids can compete for prizes such as computers and backpacks for their schools.

Natalie · Answer 2 · 2010-01-12 16:49:12Z UTC

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I've found that good old fashioned "Monopoly" teaches children about cash flow, mortgaging properties, and paying income taxes.

answered Jan 12 at 16:49

Natalie
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YMCbuzz · Answer 3 · 2009-11-25 19:13:19Z UTC

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I also saw a lot of reference to Mutual Mania Board Game, which is geared towards kids 11yrs+ and helps them learn about spending, saving, profit and loss.

answered Nov 25 at 19:13

YMCbuzz
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Chris W. Rea · Answer 4 · 2009-12-11 15:06:49Z UTC

@Tuffster11 (at twitter) posted the following on the subject:

Tuffster11 @BasicallyMoney Kids Wealth. I bought this for my son last Christmas - http://bit.ly/5LdAoL

Below is a snapshot from the publisher web site, www.kidswealth.com:

Kids Wealth game

YMCbuzz · Answer 5 · 2010-01-12 04:24:13Z UTC

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I know this question is closed now, but I just found this site that people might be interested in... http://www.practicalmoneyskills.com/games/

answered Jan 12 at 4:24

YMCbuzz
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(The question isn't closed, just aged. Always worth adding another answer, don't worry :-) – Chris W. Rea♦ Jan 12 at 12:56

What are good games to play to teach young children about saving money?

5 Answers