These days, we make games out of everything. You may have heard of the “gamification” of things like investing, for instance, which is more or less a way to bring a “gaming” feel to the stock market. That may or may not be a good thing, but it has proven successful, to some degree, in recent years.
And many teachers would likely agree that using games of various types to teach kids about a litany of subjects is a sound strategy. We use games to teach kids about math, science, and many other subjects, for example. So why not money?
There are a number of games — board games, video games, and more — on the market for exactly that purpose. Of course, games of this type vary in their potential uses for specific age ranges and grades. A high schooler isn’t going to get much out of a game designed for kindergartners, for example. That’s something teachers should keep in mind.
But research has shown that utilizing games to instill a sense of financial literacy in students does lead to positive outcomes. Learning, turned into a friendly competition, can mask the fact that students are actually putting their brains to work, and in the end, they can take something away from the game without even realizing it.
In terms of board games, here are several that incorporate financial elements that may help teach kids about money, and how to handle it:
- Act Your Wage!
- Pay Day
- The Game of Life
- The Allowance Game
- The Stock Exchange Game
- Money Bags
- Buy It Right
Here are some free, online games for younger children, that come recommended by the Washington State Department of Financial Institutions:
And these games are appropriate for older kids (grades 6-12):
- Financial Football
- Financial Soccer
- Financial Entertainment
- Gen I Revolution: Online Personal Finance Game
- Chair The Fed Game
- Plan’it Prom App
- Stock Market Game
Check out the Money Vehicle textbook — you can find it here on Amazon. And if you like what you see, you can get more content sent directly to your inbox! Sign up for the Money Vehicle Movement Newsletter!
And check out our white paper: “Strategies for Increasing Financial Literacy Rates Among High School and College Students”
More from Money Vehicle: