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 you have applied other strategies,” he replied.
“What kind of strategies?” I asked.
“I am not sure. Something was different this time,” he replied.
I did not manage to get much more that time.
We had played Monopoly many times after that day. And every time I asked him the same questions, “Why did you win this time?” or “Why did you lose this time?”. In the beginning, he was not so willing to answer – he was not sure. But after hearing the same question for 5 or 6 times he started to figure out why – he won because he managed to acquire all 4 railroads or he lost because he acquired too expensive land and did not have enough cash to build the houses.
Link the game to the real world
Another strategy for teaching is to make connections to the real world. For example, you could ask, “Can you win the game if you don’t buy property and just collect 200 every time you pass the field “GO”?”
If kids played Monopoly more than once or twice, they will soon figure it out that this is not a winning strategy. You have to buy property, build houses and hotels to win the game.
At this moment it is important to make the link to real world – you cannot get rich if you just go to work and “collect” your monthly salary. Don’t forget to note though that it is possible to live this way, you just won’t get rich.
Another question could be, “How long do you think it would take you to get a hotel on the land in real world?”. Let them think. Don’t give the answer too quickly.
Explain that it could take 20 years or so to buy that many properties and ensure the cash flow in the real world. 20 years could seem like an eternity for 9 years old kid. But it is important to pass the message – there are no “get rich quick” strategies.
You could figure out more questions to ask, e.g.:
“How much money do you get in real life when you start the grown-up game?” or
“If you use your last cash to buy houses, what will happen if you stop on my property later?” or
“Which property gives you the best return on investment?”
Bottom line
Just observe the game and strategies used by your kid and ask questions. Don’t be discouraged if you kid struggles with the answers at first. Be persistent and your kid will figure it out. Asking questions is the most powerful teaching technique.
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