With the economy in such a precarious state, it’s more important than ever for kids to understand the basics of economics. Teaching your kids about money early on will give them a leg up when they enter the workforce later in life.
Here are 8 fun games that you can use to teach your kids about different economic concepts. From managing scarce resources to making trade-offs, these games will help instill a strong foundation in economics that they can build on for years to come.
Whatever game you choose, make sure you are engaging your child in conversation about the decisions they are making during the game – why did they choose to buy that property/stock/etc.? What do they think will happen next in the game? etc.
- The Game Of Life is a great way to teach kids about the basics of economics
- Monopoly is another classic board game that can help kids learn about money and financial planning
- Candy Land is a fun game that teaches kids how to make choices with their money
- Payday is a game that simulates real-world budgeting and money management scenarios
- RatRace is a game designed to teach children the importance of saving money
- The Great Depression Game helps kids understand the effects of economic recession
- Economics Bingo – A great way to review key economics concepts with your kids using a fun and interactive game format.
- The Stock Market Game – Kids can learn about the stock market by playing this online simulation game.
So, what are you waiting for? Get your board games out and start teaching kids about economics! As always, we would love to hear your thoughts and suggestions in the comments. What economic concepts have you found work best in board games? Do you know of any great games that I missed from my list? Let us know, so we can all learn together!