Toys are great gifts for kids, but how about adding a little learning fun? There are some inexpensive gifts for toddlers through adolescents that can help increase a child’s financial literacy.
Monopoly is a game you’ve always known and loved, but Monopoly’s Ultimate Banking edition is a faster-paced, updated version. As in life, there’s no cash exchanged in this game. Instead, you make purchases electronically. Swipe your bank card to buy real estate that now has been inflated to more modern prices. The lessons are timeless: Be a canny capitalist if you want to get ahead.
Any toy cash register is a fun way to spark learning about earning, spending, counting and saving money. Modern, up-to-date electronic cash registers come with a card scanner, plus a bunch of little restaurant items: play food, pots, pans, utensils, stovetop and a grocery basket.
Having a salary and paying bills is new to kids, but Pay Day is a classic board game that guides them though an imaginary month as they pay bills and expenses. Kids get the chance to earn money and broker property deals. Each player uses a salary to pay bills, borrowing, if necessary, to get through the month, pretty much like life. This game is aimed at kids 8 and up.
Head Full of Numbers looks goofy, but the concept is great. Shake your dice out of a cup that’s shaped like a silly professor’s head. Now, set the egg timer, and start writing equations — as many as you can — from the numbers and symbols showing on the dice. Stop when the time is up. This game is great for ages 7 and up.
These are some great examples to give kids a fun way to build the foundation for their financial independence.