Fascinating how kids learn

This weekend, something just blew my mind. It is amazing how kids evolve and discover new items. As there is a connection link with finance, I thought to share it with you.

We are regular players of Frozen Monopoly at home. It is a simplified version of Monopoly with Frozen characters. That is what attracts my daughters the most. I like to play with them as it teaches them a lot of things like

  • read the numbers on a dice and count to move the character forward
  • patience: you can not play until it is your turn
  • respect for the rules: you can not do what you want
  • stay focused: when someone is on your ground, they need to pay
  • learn to loose
  • learn that you need to work (pass by start) to get money. With no money, it is game over.

This weekend the oldest asked if she could draw on the money extra numbers. At first I was hesitating. Yet she convinced me.

What happened: we now have not only notes of 1, we also have notes of 2, 3, 4 and 5. SO what?

Well, when we now play, you can pay 4 with one note, or make the game more interesting and pay 5 when you only need to pay 3. The other now needs to return 2. A small step for us. It seems to be a giant leap for the our children.

After the banking crisis, this is the second time a finance related subject surprise me.

How do you teach your kids about money? Anything special you noticed? Can you apply some of this to a godchild?

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12 thoughts on “Fascinating how kids learn

  1. Another board game that I used to teach children finance was the game of “Life” , they roll to get a profession like lawyer & teacher which have different salaries. Option to go to University, etc get married and have children.

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  2. Nice. Its good to see kids try out and learn new things. Its great you are getting them started on Monopoly…lots of lessons to be learnt from that game 🙂

    cheers
    R2R

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  3. My daughter is not quite 3, so no money conversations with her just yet. However, just by observing us when we go grocery shopping, she ‘plays’ shopping at home. She will put piles of things on the couch, and fills her purse with blocks. Then she brings some things to one of us, and wants us to boop them (this involves holding the object and making a boop sound). She then gives us a block and takes the things “home”.

    Kids are sponges. It is kind of scary the way they are quietly absorbing everything all the time.

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  4. That’s great! A nice little wrinkle to the game with added lessons to learn. We haven’t gotten to that stage yet with just a three year old, but we’ve started playing the memory card game. It helps with him finding matches, stretches his memory, waiting for his turn and we count up three matches at the end. It’s a lot of fun and he manages to impress us with his memory! Amazing stuff.

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  5. My little one is a bit young for money talks but I’m really hoping to expose them to games like Acquire and some other finance type games. I’m hoping that through games I can really teach some good lessons about money. Hopefully it works 🙂

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  6. Wow, my daughter would literally wet herself with excitement if she new there was a Frozen version of Monopoly! We just have the boring Monopoly Junior version with Mr Monopoly in his car. I agree it’s a really good way to start kids off with financial games though. I love how they stripped the game down and simplified it so that very young kids can enjoy playing it too. We started playing with our daughter just after she turned 4. We tried so show it to our son too, but at 2 1/2 all he was interested in was building towers out of the blocks. That’s a good tip to add different denominations of money to the game to make it just a little bit harder. Nice that your daughter came up with it herself, looks like she has a promising future as a financial whizz kid!

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    1. They did i ndeed a great job in simplifying the game. As from age 3,5, they can play…amazing. One day, I hope she starts to manage my portfolio, including options. That would be true passive income!

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