While your kids may not be old enough to start their own business, teaching them financial literacy should be done as early as possible. Little kids learn faster when compared to older kids and adults, and the information often tends to stick, so you should hone their business skills as early as possible.
With that in mind, children tend to get bored much faster than adults. This is why you may need to pick their interest the smart way. Interactive games are often the way to go, as it is much easier to make them want to learn when using a board game. This article will teach you about a few board games for kids that can help your junior become a business person in the future.
Peter Pigs Money Counter
The Peter Pigs Money Counter game is one of the best options for kids who like to play video games or spend time on their phones. Rather than just having them play random games, a parent can teach them valuable investing lessons by using a simple app.
This game is an excellent resource for kids to learn more about the Canadian currency. They can use various budgeting tasks to test their money skills and improve their finances. The game is aimed at kids aged 5-8, but anyone can learn more from it.
There are three math games that the pig will lead you through to learn about money. You will have to sort coins, total your money, and determine which pile has more. You cannot choose which game to play; you must go through all of them. However, this is good, as the child can learn without shortcuts.
Monopoly Junior
When it comes to business board games, Monopoly has long since earned its name as the most popular one. Whether in high school or a full adult, you probably went through at least one round of this business game. You’d build enterprises and learn valuable financial lessons on becoming better than anyone else.
This classic game can take hours to go through, but it’s definitely entertaining. The first few rounds will help your kids determine what they need to diversify their income and find the best investment opportunities. They’ll have to decide which properties to buy and which to hold off on.
The Junior version is an easier-to-play board game than the adult full version, but the lessons are just as valuable. Your kids will learn how to invest in property, control their finances, and diversify their income for a better cash flow. You can play this classic board game with them and likely be just as entertained.
Lemonade Stand
Many of today’s successful business owners started making money with the simplest means: a lemonade stand. They would set up a stand in front of their homes on a hot day and sell these nourishments to dehydrated people passing by. That being said, not everyone can buy a lemonade stand, but there are money games that could mimic that.
This money management game accepts 2-4 players and aims to start a lemonade business. Every player must take out a $20 bank loan to set up their business, paying $2 to start their business. When they pay the $20 back, they also need to give an extra $5 for the interest. The winner is the player who finishes the game with the most money after paying the loan.
This money game aims to teach the child that there is much more to setting up a lemonade stand than just hoping the customers will buy your stuff. Prices are variable by the cards you draw, which teaches kids that you don’t just need skill and money but also a fair amount of luck.
Zapitalism
When choosing the best business games for kids, Zapitalism is the best option for you. Here, children can learn about the financial concept of running a business. They will learn how to price products, make a profit, and more. The game is perfect for those who prefer a screen over a board, and the customer service is also great.
Zapitalism can accommodate up to 6 people, and the goal is to become the wealthiest person on the island. If your kid is the only one playing, the computer will fill the other slots. The winner is the one who has the most money by the time the game is over.
Each player gets a turn in the game, with 50,000 zables to begin their business. With that money, they must choose the best wholesale products for stocking up their shelves. They would then set the appropriate prices so they can make a profit. The secret is to find the right recipe for the perfect price: too high, and it won’t sell; too low, and you’ll come at a loss.
Ice Cream Empire
Does your kid love ice cream? In that case, they will love building their ice cream empire. This simulation game requires you to create eight ice cream shops in different places.
Ice cream inventory costs will change throughout the games, but this will teach younger kids how to brush up on their entrepreneurial skills. They can learn everything they need about distribution networks, buying assets, selling on the stock market, and making the right business choices for growing their business.
Each business spot has its own rules that your child has to follow. This can affect either you or the other competitors. For instance, you may need to buy a safe store from your competition for $800, or you may have to change your inventory price cards. The first person to land eight stores wins the game.
Mystic Market
For kids over ten who love playing games with magic and potions, Mystic Market is an option they will love. If your child grew up watching Harry Potter and excelling in potions, this fun game will allow them to do just that while improving their ability to make financial decisions.
With Mystic Market, you must collect various ingredients to create a potion. After that, you should be able to sell that potion on the market for the best price. The game will teach your kids how to run a successful business while keeping a close leash on their business savings goal.
The catch of this game is similar to real life: prices constantly change. Your prices can go up and down, depending on how much you must spend on resourcing the ingredients. Kids will need to be quick on their feet and buy the ingredients that allow them to come out at a profit.
Gazillionaire
Gazillionaire is a great way to teach your middle-to-high-school kids about business. The game is played on a computer and can accommodate up to 6 people, each on their computer. All it takes is an invite email; they are ready.
With this game, your little one must run their own trading company. There, they will have to sell high and buy low to be prosperous. The game teaches them the rules of becoming a business tycoon, allowing your child to learn more about investments.
From the beginning, your child must take out a 4% interest loan to get a ship. That ship will be used to travel the world and buy cargo at low prices, selling them for a profit. The one who makes the most profit at the end wins.
Ca$hflow for Kids
If you are a fan of “Rich Dad Poor Dad” by Robert Kiyosaki, Ca$hflow for Kids is a great game you should not miss out on. Based on the eye-opening book, this interactive game has one purpose: to teach your kids the art of investing in assets, all while keeping their liabilities as low as you can.
Ca$hflow for Kids teaches younger and older children how to balance their income statement with their investments. It encourages a variety of side hustles for passive investments, such as real estate, proving to be an in-depth financial lesson for young entrepreneurs.
The game comes with three types of cards: assets, liabilities, and sunshine cards. The one who finishes the game with a passive income higher than their expenses becomes the winner.
The Bottom Line
It’s well known that a young person can assimilate information much faster than someone older. This is why you should teach your kids the basics as early as possible when they still have that childlike curiosity going. Luckily, there are plenty of games out there that can help them learn everything about business and how to be successful.