Playful financial wisdom in Santa’s gift bag

With Christmas rapidly approaching, many parents are probably wondering what presents to get their children. If there’s still an empty space in your gift bag, and you’re out of ideas, I recommend giving them board games that will not only give you a chance to have fun spending time together but also teach them investing and financial skills.

Be sure to choose a game for your gift bag that matches your child’s age, interests and abilities. This way the game is neither too easy nor too complicated, providing just the right amount of challenge and fun. Here are a few examples of board games about investing and money that I have played with my own children, and can therefore heartily recommend for Santa’s gift bag:

• Monopoly is a classic board game suitable for both children and adults alike. The aim of the game is to buy and upgrade your property in order to charge as much rent as possible from other players. The game teaches children strategic planning, negotiating skills and cooperation. Monopoly is available in many different versions.
• Cashflow is a board game created by Robert Kiyosaki, author of the book Rich Dad, Poor Dad. The aim of the game is to get out of the ‘slave wheel’, i.e., the dependency on paid work, and create a passive income from entrepreneurship and investments. The game teaches children about basic financial literacy concepts such as assets, liabilities, income, expenses, balance sheet, and cash flow. It is better suited for high school-aged children, as it requires a certain amount of persistence and bookkeeping. A simpler children’s version of the game is also available.
• The Game of Life covers the broader outlines of human life. This game brings to the table the various twists and turns that need to be addressed, for example in education, but also in family and professional life. Just like in real life, the game occasionally presents unexpected challenges that you have to handle. Suitable for children starting from the age of 8.

As well as being fun, the games mentioned above are undoubtedly also educational, helping you understand the value of money, saving, spending, investing, risk-taking and economic thinking from an early age. Developing social skills and spending time together is no less important. Have fun playing and enjoying many fun moments together!