{"id":104260,"date":"2019-12-25T09:00:21","date_gmt":"2019-12-25T16:00:21","guid":{"rendered":"https:\/\/www.biggerpockets.com\/renewsblog\/?p=104260"},"modified":"2024-02-24T13:08:00","modified_gmt":"2024-02-24T20:08:00","slug":"games-teach-kids-money-real-estate","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/games-teach-kids-money-real-estate","title":{"rendered":"5 Games That Will Teach Your Kids About Money & Real Estate"},"content":{"rendered":"

There is little sense in building up a big portfolio or nest egg to leave as an inheritance unless we also teach our kids how to handle money and manage real estate investments. Then, the next generation can turn a little into a lot more.<\/span><\/p>\n

One of the best ways to do this is through games with lessons. While we might like to download all of our money and real estate knowledge to them in a few hardcore sessions over dinner\u2014or at every moment we get with them\u2014that can be tough. A lot of it can be over their heads. Also, it may not be the most fun way they enjoy spending their time with us. <\/span><\/p>\n

Every age can bring new opportunities to teach them in a way that fits their cognitive abilities and that is relatable. Whether they are five or 15 or 25, games can be a great way to achieve this in a passive, entertaining way.<\/span><\/p>\n

Here are five worth trying out.<\/span><\/p>\n

5 Games That Will Teach Your Kids About Money & Real Estate<\/h2>\n

1. Monopoly<\/h3>\n

Monopoly now has a wide variety of themes. So, no matter what your kids are into, there is probably a version of Monopoly they can get excited about. <\/span><\/p>\n

This game is great for introducing them to real estate in a really passive way, as well as teaching some basic principles\u2014like you don\u2019t want to go to jail! It will also introduce kids to some general rules, strategic location choices, and more. <\/span><\/p>\n

Take a look at <\/span>this post<\/span><\/a> for some of the great takeaways all investors can gain from playing Monopoly.<\/span>
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\nRelated:<\/strong> Game of Homes: 9 Lessons of Wealth & Real Estate from Game of Thrones<\/a><\/em><\/p>\n

Monopoly also now has a card game version. It\u2019s easy to take with you on vacations. <\/span><\/p>\n

This one really teaches you the importance of cash reserves when buying rental property<\/a>. Your kids will also quickly learn that sometimes cash alone becomes ineffective, and you need investments to win the game.<\/span><\/p>\n

\"monopoly-lessons\"<\/p>\n

2. Chess<\/h3>\n

Chess is probably the most classic mental game, and it has plenty of benefits. It again shows the need to know the rules and roles of different pieces, how to best utilize the different pieces to play to strengths, when to be bold and move forward\u2014and when to be defensive. <\/span><\/p>\n

It helps with creative thinking, a willingness to try new things, the development of long-term strategy, and the ability to think several moves ahead of the competition. Backgammon, checkers, and Chinese checkers are reasonable alternatives if you prefer.<\/span><\/p>\n

3. Cashflow 101<\/h3>\n

This is one of the original real estate games. It’s probably one of the most famous among real estate investors and was created by Robert Kiyosaki. <\/span>But you don\u2019t have to be a fan of the Rich Dad Poor Dad<\/em><\/a> author to play. <\/span><\/p>\n

It pits players against the markets and elements, and it introduces them to a variety of investments that can be used to escape the rat race.<\/span><\/p>\n

An alternative to this is Dave Ramsey\u2019s Act Your Wage. This board game by the ultra-conservative money advisor aims to help players learn how to get and stay out of debt.<\/span><\/p>\n

4. Fortnite<\/h3>\n

If you aren\u2019t familiar with this game yet, you might be living under a rock. It was one of the most popular video games in recent years. <\/span><\/p>\n

For all those parents who are still against video games, consider this:<\/span><\/p>\n