Learning to budget is an important life skill, and one that can be taught at a young age. In fact, there are many games that can help kids learn about budgeting and the basics of money management. In this blog post, we will discuss some of the best budgeting games for kids and how they can help children learn about different aspects of budgeting and money management.
Related: Financial literacy for kids
Types of budgeting games for kids
Apps are a great way to teach budgeting to teenagers, and help younger kids learn about money management. There are also many online games as well as several fantastic board games that may help children learn about money management and budgeting.
Budgeting games for kids
- Money Missions: You’ll find Money Missions within the GoHenry app, as they’re included as part of your monthly subscription. GoHenry is a pre-paid kids' debit card and app, designed for kids aged six and up. It helps teach kids about earning, saving, and spending money. This gamified educational experience is a great way for kids to develop their financial literacy and build good money habits that will last them a lifetime. The interactive design is bound to keep children interested in learning about money with various animated videos, quizzes, and the opportunity to earn points and badges along the way. As a parent, you can even keep track of their progress with your GoHenry parent app, meaning you can see what level they're at and how they're progressing with their financial learnings.
- Fortune City - A Finance App: This app gamifies bookkeeping with a fun city simulation game. It helps teach budgeting basics such as setting spending limits, tracking expenses and saving money. Children can learn about responsible money management and watch their virtual city develop into a beautiful metropolis through this fun and engaging app.
- Credit Clash: This fun and interactive game that teaches kids about responsible credit use. In the game, players must manage their credit.
- Reality Check: This game helps kids understand the relationship between income and expenses. The game lets children choose their ideal future life and understand how much their desired lifestyle will cost.
- Claim Your Future: This educational tool encourages children to think about their future and make decisions that will help them achieve their goals - from career pathways to financial decision-making and post-secondary training.
- The Uber Game: In the game, players must choose how to spend their money wisely in order to make a profit as an Uber driver. This is a great way for kids to learn about managing their income and expenses, as well as discover the challenges of running a small business or being self-employed.
- Lights, Camera, Budget: This is an interactive game that teaches kids about film production budgeting. In the game, players must manage their resources wisely in order to stay within their budget and produce a successful film.
- Payback: This game is a great way for kids to learn about personal finance and the consequences of overspending. In the game, players must make it through college without drowning in debt.
- Hit the Road Financial Adventure: This is a financial education game that aims to teach children the significance of budgeting and spending sensibly. Players go on a virtual trip to learn the benefits of budgeting, responsible expenditure, saving, and debt management.
- Pay Day: This game teaches you that you must spend money in order to earn money, as you're encouraged to invest, borrow, and spend your money in order to achieve your goals. Expect the peaks and pits of budgeting as you strive to make it to the end of the month.
- Act Your Wage!: This is a brilliant game for kids that simulates real-life budgeting and encourages players to make choices about spending, saving, and managing debts. Players earn a wage, pay bills, save money, and pay down debt in the game to eventually become debt-free.
- Monopoly: This classic board game is a great way to teach kids about money management, as players must make strategic decisions about how to spend their money in order to win the game. It provides a fun way to explore the concepts of buying, selling, and price negotiation. It can also help players to understand the importance of saving money and investing for the future.
- Budget – Real World Math: This is a board game that aims to teach children about real-life economics. It simulates the process of purchasing a house or renting an apartment, as well as insurance expenditures and investing.
These are just a few examples of games that can be helpful in teaching your children good budgeting habits. There are many different ways to help kids learn about budgeting and money management, such as speaking to them about money, giving them pocket money, paying them for doing chores, challenging them to reach certain saving goals and more.
Use GoHenry to teach your kids how to budget
In the GoHenry app you’ll find everything you need to accelerate your child’s financial education and teach them the basics of earning, saving, spending – and budgeting. You’ll receive notifications whenever your child uses their card, so you have oversight of their spending while giving them the independence to learn how to manage their money.