"They can learn the principles of cash flow, capital gains, assets, and liabilities in a way that is kid-friendly." 3. "So, he created a board game suited for kids," Hulls continues. Hulls is senior editor of Family Destinations Guide and is a parent whose own children have used the game. "He understands that people should be taught about finance as early as possible," Jeremy Hulls tells Parents. Related: Teaching Kids About Money: An Age-by-Age Guide Ultimately, players learn how to get out of the rat race and onto the fast track. Sounds amazing, right? (Not to mention these are lessons nearly all of us could benefit from.) The object of the game is to increase each player's financial IQ so that they can maximize earning potential, build passive income through investments, stop working so hard, and find ways to make their money work for them. Kiyosaki's offering on the kids' game front is Cashflow ($70, Amazon) an award-winning personal finance game that uses components of stock-investing games, business-building games, and real estate-investing games to challenge players' perceptions of how to generate and sustain wealth. Who better to teach kids about money than Robert Kiyosaki, author of The New York Times best-selling book, Rich Dad Poor Dad? "We also play it with just adults, and it's equally as fun," says Turner. Related: 10 Money Lessons to Teach Your Kids Before They Turn 10įor parents who may be in search of a few additional gifts to put under the Christmas tree this year, or who are simply seeking a better way to teach kids about money, here are six board games to put on your shopping list.Īs an added bonus, the game helps children count large sums of money. Luckily there are plenty of board games designed to deliver a hefty dose of fun while also imparting helpful, real-life money principles. This is all great news, but often, these lessons can be a less-than-exciting experience for the children involved. The survey, which polled parents of kids ages 17 and under, found that 62 percent of parents talk about their family's own financial situation with kids, including delving into the family's ability to purchase certain things, take a family trip, or participate in extracurricular activities. are regularly discussing the basics of personal finances with their children, including talking about saving and spending with them and how to use a bank account. A recent survey conducted by Chase found that more than 70 percent of parents in the U.S. Teaching kids about money management, budgeting, and spending wisely is an important part of every parent's job.
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