Moneywise Kids
Despite increased efforts at teaching kids about money, their financial literacy scores have actually gotten worse over the years. When the non-profit Jump$tart Coalition gave a money management test to high school seniors across the country in 1997, their average score was a failing 57 percent. In 2006, the average score was five points lower. Clearly, financial education needs to start as early as possible. And, to be most effective at connecting with kids, the lessons have to be fun. While it's not easy to find good money management games, Moneywise Kids has garnered mostly positive online reviews from parents who have bought it for their children, usually between the ages of five and ten. Parents say it's both fun for their kids to play and it's effective at teaching some of the basic concepts about money.
Moneywise Kids is actually two games. The first one is a simple currency counting game that helps pint-sized players understand the distinctions between various denominations and teaches them how to make change. As they acquire more money by rolling the dice, players exchange smaller bills for larger ones until they end up with a $100 bill. The second game gets kids accustomed to budgeting as they allocate their income to pay for everything from housing to healthcare.
If you have a grade-schooler on your holiday gift list this year, with Moneywise Kids you'd be giving them two enjoyable games, and the invaluable gift of an early start at learning how to manage money.
Browse Recommended Books & More»
Matt About Money
- Recession Lessons; Your Own Financial Stress Test; Cheap Eats; and more in the latest issue of the Matt About Money eNewsletter.
"Absolutely outstanding—one of the best workshops I’ve ever attended on any subject (and I’ve been to a lot!)"