by Lorillia Brown-Phillips, Your Black World
Teaching children the different concepts of Personal Finance can be a difficult topic of discussion for some adults. Many adults feel clueless on where to start to make the subject interesting and captivating. Keeping a child’s attention on the subject can be daunting if the approach is too analytical. If you want to succeed with introducing children to the topic of personal finance, make the subject fun and exciting by using board games.
The game of Monopoly serves as a great resource for teaching children about the concepts of Banking, Real Estate, Law, Taxes, and Personal Income. In recent years, newly developed versions have been created to mirror the current world economy. The paper money has been replaced with debit and credit cards; everything is recorded electronically to capture transactions on rent payments, tax payments and passing go bonus. Instead of moving along US landmarks like Atlantic Ave, Park Ave and Boardwalk, the movement around the board is done within different continents. What ever version you choose, the principles are same and the rules of the game of monopoly have not changed.
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