Making Money Management Fun for Kids: Games, Activities, and More

Updated on May 18, 2023

Children pick up many good and bad habits related to money from their parents. Children are like little sponges and absorb everything that happens in their environment. Therefore, parents must pay attention to how they talk and dispose of money around their children. 

Thanks to the development of technology, there are various fun ways and tools for children to become financially literate adults. If you were thinking of providing your child with a kid debit card, then you are on the right track when it comes to teaching your child financial literacy.

The origin of money

You have to explain to the children that money is earned by hard work and that it is not in abundance. Children must learn to treat money with respect and not take it for granted. Explain that while they are in school and kindergarten, you as parents have to go to work so that they can provide for your family.

The difference between needs and wants

Children must not be spoiled in any sense, and especially when it comes to finances, they must know the difference between needs and desires. Explain to the children that needs are expenses that parents are obliged to pay such as rent, grocery costs, fuel, car, mortgage, and many other expenses that arise during the month. While parents can fulfill children’s wishes when they deserve it.

Talk openly about money

The simplest recommendation for parents is to talk openly, honestly, and simply with children about money. The earlier you start teaching your children about finances, the sooner they will develop a habit that will later develop into a commendable skill.

How to explain money and the world of finance

Depending on the age of the children, you will have to have a special way of learning about money and the proper disposal of it. Smaller children learn best through play, and here you have to be especially creative and imaginative with ways to teach them about money. 

With teenagers, you may have another problem, which is how to keep them intrigued and interested in learning about money and all kinds of finances.

Fun money learning games for kids

Sometimes it can be very demanding and difficult to teach children of any age about money. The goal is to teach them about the financial world so that they can grow up to be independent adults. Numerous studies have shown that children whose parents teach them about money earlier in their childhood do not have problems with debts and money later in life. Therefore, the best way to teach children about money, especially younger ones, is through games intended for children and social games about money. 

Currently, there are numerous and various options on the market where children learn how to manage money by playing games. Through these games, children learn how to dispose of money, how to save it, and how to be tactful in certain situations. 

Some of the most famous games of this type are certainly Monopoly, The Exact Change Game, Cover Your Assets, as well as numerous games that you can buy in bookstores or order online. Each game has special rules and ways of playing that children must obey. These games are designed so that children can slowly learn about finances and gradually master various types of financial literacy.

Get them a credit card for the kids

What is innovative is that this option is designed and adapted completely for children, and it has made the job much easier for parents. Children have various options and possibilities from making a detailed savings plan, to an investment plan in various stocks and companies, and the possibility of earning, spending, and donating money to those who need it most. As you can see this credit card for kids mimics the adult world of course with some restrictions for kids. 

The account can be created very quickly, it is only necessary for the guardian or parent to open the account in the name of the child. After that, they have to provide their children’s private information, and by paying money into the account, the account is instantly activated and ready for use. In addition to teaching children about finances, this option is also intended for the creation of various commendable skills. Parents have the option of creating various personalized activity tables that children must complete within a given time limit. In these tables, you can enter curricular, extracurricular, and household tasks and duties.

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The Editorial Team at Healthcare Business Today is made up of skilled healthcare writers and experts, led by our managing editor, Daniel Casciato, who has over 25 years of experience in healthcare writing. Since 1998, we have produced compelling and informative content for numerous publications, establishing ourselves as a trusted resource for health and wellness information. We offer readers access to fresh health, medicine, science, and technology developments and the latest in patient news, emphasizing how these developments affect our lives.