No board game teaches you how to become the next Donald Trump more than Monopoly. From investing in real estate (location, location, location) to maintaining a cash reserve (for a rainy day or bail), there are dozens of valuable financial lessons to learn here. Others include risk-taking, making deals, and sticking to your financial goals. Even at a young age, Monopoly can give you an introductory lesson on how to manage your money wisely.
The Game of Life
If you want a lesson in how your life choices affect your finances, just grab The Game of Life for family game night. From having children and buying a home to choosing a career and taking out loans for college, your life choices will determine your success throughout the game – unless of course, you luck out and win the lottery or something! Unfortunately, it’s not quite as easy to become a rock star as the game leads you to believe.
If you’re having trouble making your paycheck stretch to the end of the month, perhaps a game of Payday is in order. The game is set up like a real month, and just like real life, you have to figure out how to deal with expenses like bills, loans, and those unexpected expenses that pop up every now and then. Ultimately, you’ll learn why it’s best to save your last $200 than hit the mall. The player who finishes the game with the most money (cash plus savings or cash minus loans) wins!
Charge Large is a relatively new game compared to the likes of Monopoly. Essentially, it teaches you credit card and money management. Players learn to strategically leverage both cash and credit in order to come out on top. The winner of the game is the first player to have cash, a zero credit balance, and the coveted black credit card. In other words, this is the type of game young adults need to be forced to play before graduating high school or college.
From simple ideas like personal accounting and learning the differences between assets and liabilities, to more difficult ideas like short-selling stocks and real estate investment, Cashflow 101 teaches things that even many adults don’t seem to understand. If you’re over the age of 30 and scratch your head when you see your bank statement each month, run out and grab yourself a copy. Cashflow 101 was designed to teach you how to get on the financial fast track and make your money work for you – not the other way around.