I love board games! I grew up playing Monopoly and other strategy games, and loved it!
We’ve talked before how video games can teach personal finance skills to kids. But boards games can also teach kids about the basic concepts of investing, money management, and more.
And with a push to stop the TV and iPad addiction, what better gift to give your kids than a board game the whole family can play together?
Here is our list of the top five board games that can teach you about investing:
Monopoly is one of the best board games for teaching you kids about money and investing. Why? Because the goal of the game is to invest in real estate, earn cash flow, and have the most money at the end.
How do you do it? By investing at the right time, and having enough cash to be able to do so. You can also upgrade and invest in your real estate to develop it and make it worth more.
This game also has planning and trading aspects – you have to plan what to do with your cash, and you have the opportunity to trade and make deals as well. This is a great way to teach kids about the basics of money management.
Check out great deals on Monopoly at Amazon.com ->
The Game of Life is another classic board game that teaches kids and families basic money topics. Similar to Monopoly, except you choose different paths based on simulated real life choices, such as career and family.
The game teaches really great money skills, such as the importance of career and income. It also teaches kids why it’s important to start investing early, and how compound interest works.
Check out The Game of Life at Amazon.com ->
Million Dollar Challenge is the only “true” investing focused board game on this list. But it’s not at the top of the list because, honestly, it is a bit harder to learn than any of the other games.
The reason is that this game focuses specifically on investing – the first phase of the game focuses on learning how to trade, stop losses, and more. The second phase of the game enters into even more advanced topics into investing.
The goal, as the game it titled, is to get to $1,000,000 before anyone else does.
This is a pretty rare game, but you can still find it sometimes on Amazon.com.
Cash Flow 101 is actually a board game created by Robert Kiyosaki. Love him or hate him, he does teach the fundamentals of money very well.
This game is a combination board game and learning tool. It has more teaching material than any other board game on this list. The goal of the game is not just to play, but to learn solid money management techniques.
This game will teach players the basics of investing, income and expenses, and even gets into advanced investing techniques.
This game also has a free online version kids can play here.
If you want the board game version, check out Cash Flow 101 at Amazon.com ->
Puerto Rico is probably the least known board game on this list, but it’s a lot of fun and a great way to teach kids about money.
The game play is all about being a capitalist on the Island of Puerto Rico. Your goal is to build up your company before the island runs out of workers, the capital becomes civilized, or the market has geared up to full capacity. The average game takes about an hour to and hour and a half to play.
This game will teach your kids about cash management, and also about the importance of investing. It will also teach your kids about managing change, and how investments may be positively or negatively impacted by changes in the market outside their control.
Check out Puerto Rico at Amazon.com ->
Settlers of Catan is a board game where each player is a settler that is trying to build their holdings while developing resources and trading. This is a great money management game that has a few aspects of investing built in.
We included it in the list because this game continues to increase in popularity every year.
The goal of the game is to get to 10 victory points by developing your land using resource cards. Players can also trade to get the resources they need. There are also unexpected events, such as a robber, who could stop production on the spot it lands on.
Check out Settlers of Catan on Amazon.com ->
Robert Farrington is America’s Millennial Money Expert® and America’s Student Loan Debt Expert™, and the founder of The College Investor, a personal finance site dedicated to helping millennials escape student loan debt to start investing and building wealth for the future. You can learn more about him here and here.
He regularly writes about investing, student loan debt, and general personal finance topics geared towards anyone wanting to earn more, get out of debt, and start building wealth for the future.
He has been quoted in major publications including the New York Times, Washington Post, Fox, ABC, NBC, and more. He is also a regular contributor to Forbes.