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

Question

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?

Answer 1

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

Answer 2

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.

Answer 3

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

Answer 4

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.

Answer 5

Animal Crossing is great for all ages and teaches kids the importance of saving money to pay off a debt for a home and to become successful by helping out the community and what it gets you.

Answer 6

We play Cash Flow and Cashflow for Kids by Robert Kiyosaki. Our kids love it.