2 effective strategies to teach your kid Monopoly game lessons

2 effective strategies to teach your kid Monopoly game lessons

Earning, Investing, Top posts
Is your kid fond of playing Monopoly game? If yes, use the time spent playing it with him or her to teach him/her Monopoly game lessons on finance and investing. Using questions could be a powerful teaching technique each time you play. Why did you win? Why did you lose? One day I suggested to play Monopoly to Faustas. He is fond of it! In the beginning I asked why he is so fond of playing this game. “Because I always win”, he replied. This time, however, I had another goal. I wanted to teach him something. Therefore, this time I observed his strategies and applied different strategies myself. I managed to win. “Why did you lose this time?” I asked. “Why did you lose this time?” I asked. “Because…
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Allowance for kids: debit card or cash?

Allowance for kids: debit card or cash?

Earning, Saving, Top posts
Is it a good idea to give allowance for kids by transferring it to the debit card? How old should the kid be to understand the abstract value of money? I used cash for allowance for a few years. However, I found it quite inconvenient. So, I decided to shift from cash to debit card for Faustas (9 years old) for 3 reasons: it is much more convenient, it helps him to get ready for future world and it helps him learn new things. Convenience Using debit card is much more convenient than handing over the cash. Firstly, if you give 5 euros per week, you always have to have small money. It gets more complicated if you have 2 or 3 (or even more!) kids. Secondly, if you happen…
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5 reasons why parents fail in teaching financial literacy to kids

5 reasons why parents fail in teaching financial literacy to kids

Other, Top posts
I love teaching my kids. I am so happy when after my huge efforts I can see them riding a bike for the first time. Or swimming. Or reading. Or doing something else. The thing I enjoy the most is the link between my effort and the result which would definitely help them in the future. However, for quite a few years now I have struggled with one thing – teaching them financial literacy. There are 5 problems related to this. Firstly, the link between the effort and the result is not so immediate. If I teach my 9 year old son what the budgeting is and force him to do the budget each month, when would that pay off? How do I know I do it the right way?…
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