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Teaching Kids About Financial Health

May 24th 2016 by
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Teaching Kids Financial Health Playing fun games with your kids to teach them about financial wellness can be important to developing good financial habits. You can use some games to help get your kids interested in investing, saving and spending responsibly.

Pay Day

Pay Day is a classic game surrounding money management. The game teaches children how to budget wisely and makes finances fun. Older versions of the game include insurance and savings options to offer further financial advice.

ACT Your Wage!

Dave Ramsey’s ACT Your Wage! Board Game is a fun way to introduce your children to important financial principles. The game is designed to teach children about debt and how to develop healthy financial habits.

The goals of the game are to:

  • Save $1,000 in an emergency fund
  • Use the envelope system to budget money
  • Use Ramsey’s snowball effect to pay off debt
  • Be the first player to get out of debt

Charge Large

Charge Large contains different dynamics than ACT Your Wage! in the sense that the goal is to be completely debt free. It is a way for kids to learn that while using credit cards can help you get what you want, they will lead to debt if they do not use them wisely.

The purpose of the game is to:

  • Upgrade to a black card
  • Save $2,500
  • Have no debt

Cash Flow for Kids

Cash Flow for Kids teaches kids the differences between assets and liabilities, along with accounting and investing. The game also emphasizes the importance of passive income and donating money to charity. Two versions of the game are available: the kid’s version which is good for ages 6-12, and the adult version, which is more appropriate for teenagers.

Net Worth

The goal of Net Worth is to collect financial assets and get out of debt. It is a card game in which players create strategies to deal with financial issues such as a stock market crash and job loss. A player wins by having the highest net worth at the end of the game.

Daytrader

Similar to Monopoly, Daytrader simulates the stock market to teach all ages how the market works. Players work different jobs and then buy and sell stocks in the company they work for in order to increase their savings. The best part is that no financial knowledge is needed in order to play the game. In order to win, a player must have enough money to retire and get to the bank before the stock market sets them back.

It’s never too early to begin teaching your kids about finances. Get one of these games and have fun while teaching your kids about healthy finances.


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