Teaching Kids About Money: 10 Expert-Recommended Activities

You can use a block-stacking activity to teach your kids how compound interest works.
Here’s a retirement strategy no one's talking about: Raise your kids to be wildly wealthy. You will spend less on their financial independence, and they might let you retire in the east wing of their mansion.
Like building wealth, teaching kids about money requires early and ongoing action. Without the right guidance and support, many kids will enter adulthood without basic money skills. A recent survey from financial educator EVERFI concludes that most high school juniors and seniors aren’t confident they can manage credit or create a debt repayment plan.
Keep your kid ahead of the pack with this list of ten expert-recommended money games and financial activities for parents and their children. Expert recommendations were captured in interviews.
1. Magical Money Kingdom
Tom Eyre, co-CEO, co-founder at credit-building business Loqbox, recommends turning story time into a financial literacy lesson. "What kids really pick up from us isn’t spreadsheets," Eyre explains, "it's our stories, our feelings and our habits."
Together with your child, create a character who rules over a magical money kingdom. Talk about the choices this leader must make with a limited supply of golden coins. Options can include dragon rides, castle-building, education for kingdom residents or anything else. Let your child lead the story, as you ask questions about the long- and short-term benefits of each decision.