Financial Literacy Board Games

Childhood is a great time to initiate learning about financial education/literacy. In fact, it’s the best time.

However, finding a way to teach financial literacy to children can be challenging. Topics might seem too advanced and lessons may not be engaging enough for kids to learn.

A great solution is to use games to teach the core concepts of financial literacy.

In today’s digital era, there’s no lack of applications and online resources to teach personal finance. However, if you are looking for a little more, board games might be just what you’re seeking.

There are a number of classic finance-related board games that teach money-management skills (remember saving up your Monopoly money to buy Park Place?). Additionally, there’s a whole collection of new games dedicated to personal finance topics.

Here are the top board games—both classic and new—to teach essential financial literacy skills to a range of ages.

Financial literacy board games

1. CASHFLOW

Created by renowned entrepreneur Robert Kiyosaki, the author of "Rich Dad Poor Dad," CASHFLOW encourages players to escape the rat race of a 9 to 5 job by acquiring stocks, investing, and building up passive income.

Cost: Originally called Cashflow 101, the new edition, CASHFLOW, has an updated board, playing cards, professions, and includes an exclusive strategy guide all for $89.97.

Ages: CASHFLOW can be played with two to six players. It’s suitable for players 14 years and older.

Financial Literacy Skills

• Investing
• Accounting
• Technical investment techniques pertaining to stocks, business, and real estate

Players will learn a lot about their personal financial style and how it compares to their opponents. Are you a risk taker with investing or do you prefer a more cautious approach? Regardless, you’ll sharpen your financial literacy skills by practicing saving, investing, and making money.

2. Money Bags

A product of Learning Resources, the Money Bags coin value board game offers the chance for young children to enhance their skills in collecting, counting, and exchanging realistic-looking money. Players who earn more money than their opponents emerge as winners!

Cost: Money Bags is available for $20.

Ages: Ideal for two to four players. Money Bags recommends that players are at least 7 years old, although reviewers have used the game with children as young as 4. However, it’s important to monitor younger children as the small game pieces may pose a choking hazard.

Financial Literacy Skills

• Identifying bills and coins
• Counting
• Combining amounts
• Critical thinking

Mathematical skills are a crucial component of early childhood development, and Money Bags encourages algebraic thinking in children. Moreover, it also teaches money management with its realistic dollar bills and cents.

3. The Game of Life

Created nearly 160 years ago by Milton Bradley, The Game of Life board game continues to educate and entertain families by replicating the unpredictable twists and turns of life.

Cost: There are several editions of the Game of Life, but the classic one costs about $26.

Ages: This board game is ideal for two to six players, aged 8 and older.

Financial Literacy Skills

• Effects of education and career choice on income
• Financial consequences of losing a job, having children, and getting sued
• Car and mortgage payments
• Taxes
• Debt

Experiencing life’s milestones, players will balance chance and choice when deciding on college, career, salary, marriage, children, and homeownership. Critical financial moves made during gameplay significantly impact the outcome of each player’s net worth upon retirement.

4. Pay Day

Made by Parker Brothers, Pay Day was launched in 1975. The game board resembles a calendar and allows players to earn a wage at the end of the month after accumulating bills and expenses. To secure a win, a player must prove their budgeting skills and save as much money as possible by the game’s end.

Cost: Another board game with several iterations, Pay Day retails for about $30.

Ages: This board game is best suited for two to four players, aged 8 and up.

Financial Literacy Skills

• The difference between income and expenses
• Budgeting
• Paying bills and loans
• Creating an emergency fund

Pay Day simulates money management by asking players to allocate their monthly paycheck in order to meet monthly expenses, while simultaneously building a savings fund.

5. Monopoly

Did you know that Monopoly was originally intended to teach the concept of income inequality? Before the famous board game was sold to Parker Brothers it was called the Landlord’s Game. It was created by Lizzie Magie, an artist, writer, feminist, and inventor. Monopoly continues to enchant by allowing players to buy, sell, and dream their way to wealth.

Cost: There are several iterations of this classic board game, but Monopoly costs about $20. Families might enjoy the updated Ultimate Banking edition for $40, which includes bank cards and a card reader for cashless transactions.

Ages: Monopoly typically includes two to eight players and is well-suited for group play with a minimum age requirement of 8 years old.

Financial Literacy Skills

• Managing money
• Balancing income, saving, and investing
• Financial transactions and negotiations
• Real estate
• Taxes

The premise of Monopoly is to amass properties and then construct homes and hotels in order to charge other players who visit your real estate holdings. The winner has the best money management skills determined by the highest net worth in terms of property and cash.

Games for kids

Cash Puzzler

Ages: 3-6

Cash Puzzler is a memory puzzle that draws on visualization cues. Your job is to put scrambled pieces of a puzzle back together to form a complete bill. Choose between different denominations of bills — from $1 to $100 — and learn fun facts about the presidents whose faces are printed on our money.

Counting with Coins

Ages: 5-10

The U.S. Mint website offers several educational games, including Counting with Coins. The goal is to teach kids about effective money management. This game takes place in a grocery store. Players must do quick addition and subtraction to determine the cost of groceries.

Making Change

Ages: 5-10

Making Change is another educational game from the U.S. Mint. It focuses on why U.S. currency looks the way it does. Players will learn all about coin shapes, materials used to make coins — including copper and gold -- the faces on coins, and more.

Peter Pig's Money Counter

Ages: 5-8

Let Peter Pig teach you about U.S. currency. In this interactive game, students will learn how to identify, count, and save money. Buy accessories within budget to dress up Peter Pig in the virtual store and then watch fun scenes with your earnings.

Games for high school students

Credit Clash

Ages: 14-18

A perfect credit score is the ultimate achievement. With Credit Clash, kids will see just how hard it is to obtain one. They’ll battle their way to the perfect score while learning which actions help or hurt your credit. Scenarios include taking out multiple loans, negotiating a lower interest rate, and paying back debts.

Financial Football

Ages: 11-18

Here’s an interactive football game that requires players to answer personal finance questions.

Hit the Road: A Financial Adventure

Ages: 14-18

This interactive game focuses on spending and saving. Players will go on a virtual cross-country road trip and make decisions about how to manage their money byreating a budget, spending responsibly, and addressing debt. Hit the Road has straightforward instructions, making it easy to play.

The bottom line

Mastering financial literacy is important for future success. Online financial literacy games and financial management board games provide a fun and educational option to do so — for all ages.