Are you looking for budgeting games to teach your kids some essential life skills? let me point you in the direction of some great ones

I think monopoly is a brilliant game to teach kids about making and dsaving money, paying off debts, unexpeted life efforts that cost and the pleasure of building up a stash of cash Psst: Looking for more budgeting activities? Here are 12 fun budgeting activities with PDFs. Budget Board Games The budget game– The budget game at Nat West is for 8-12 year olds. It is online, interactive and it is so good! It is played over 12 weeks and encourages kids to manage their money by making choices. Once kids make their choices for what quality they want in each category, they then fill out how much they’ll spend on that choice each month (take a guess). Kids are given a 20-bean-per-month salary, and need to make spending decisions using up all 20 beans.Even better – you could use one of these budget games for youth alongside them filling in their own budget sheets. The first person who gets out of debt and can yell “I’m Debt Free!” wins the game. Budget – Real World Math That way, they’re self-discovering budgeting money lessons both from the budget board game, AND from actually budgeting in real life. Students are randomly assigned a career and salary, and must then create their own spending plan around the money they have. Looking for a great budget board game to help your child self-discover some important money management life skills?

I was then given the decision of different types of housing with various costs (from renting a room from my parents, all the way to owning a home), and other types of options in each of the following categories: You get a “Life” card that tells you how much you earn for a living, what you do, what your family life looks like, and your monthly expenses. Good news is that players can adjust their budgets for each payday, meaning they can learn to get more and more accurate when it comes to estimating their spending needs. However, just like in real life, you can’t just spend all your income on paying down debt. You must budget both for real life monthly expenses, as well as for paying down that debt. There are “musts” that students will need to spend their beans on, and then there are other categories that they get to choose if they want, or not. Just like in real-life budgeting!This game uses national averages for salary and costs to help students determine how much their “dream” adult life will cost…and if they can actually afford it. There are some great, free, budget games for youth out there that I’d like to highlight in this section. Each child gets a Budget Options Sheet, which has three different options for each budget category that they can choose from. Everyone goes through 12 rounds, or 12 months, of decisions. Hint: if you want to give students a taste of joint spending decisions (like the kind they’ll encounter with a partner or spouse one day), then pair them up with another student to work on this together. Teen Budgeting Game For example, one month you might find out that someone in your family broke their leg. If you used part of your salary to pay for insurance that month, then you’re good to go. Did you skimp on insurance? You lose 3 beans.

Think of beans as money, and each student gets to figure out how they’d like to spend the 20 jelly beans they start this game with. Students will answer a total of 15 financial literacy questions, and make 12 movie-related decisions (like decisions on marketing, on actors, etc.) that will determine if they can, in fact, produce a 5-star movie. Here’s a twist on the “traditional” budgeting games out there – in this one, kids will need to plan their budget before they actually get to Payday on the board. They also provide some great discussion questions, such as what tradeoffs students were willing to make to afford other things, what difficulties they felt during the process, etc.I know it takes ages but it is worth it – it is one of those budgeting games that won’t feel at all like an eductaion but absolutely is. Can you manage your money for three months? There are bills to pay, food and travel to budget for, plus loads of fun things to spend your money on. Get it right and your happiness will soar, but spend too much and you’ll have a financial headache! A scenario is thrown to the players each round as well, and depending on their choices, they’ll be in for a reward, or a penalty. While heading to Colorado to ski, kids will really need to focus on spending money wisely so that they can stay fed, keep gas in their car, and make it to their destination.