Money games for children

It's never too late or too early to get children to start thinking about money. We've put together a few games you can play.

There's a family pack for younger children to download and some handouts that share ideas on how best to build financial skills for children from age 3 to 18.

1. Beans Budget

This game can help your children understand that good money management is about choices and making decisions.

You will need:

• A variety of household items, some needs (bread, pasta, milk) and some wants (chocolate, game console, toys)  make sure you include a savings jar! Or you can use our bean handout
• 15 beans per child or you can use counters or coins

What to do:

1. Give each item a bean price and ask children how they would spend their beans (each week or month). Would they save any of their beans? It’s important to let the child decide how they want to divide up their beans. Ask them to explain their choices
2. Add in a crisis: Horror! The washing machine has broken down and 5 beans are needed to pay for repair 
3. Take away five beans
4. Now ask your child how they would share out the beans 

Variation: to decide how many beans to remove at stage 2, roll a dice. You can repeat this a few times.

2. Desert Island game

This activity is a good way of getting children to think about what is important and useful to them. 

You will need (either the real thing, or photos of them):

• Tin of beans or similar 
• Piece of fruit or a vegetable 
• Bottle of water 
• Black bin bag
• Mobile phone
• Games console
• Matches
• Box of paracetamol or plasters (representing ‘medical supplies’)
• Chocolate or sweets
• A spoon
• Make-up

What to do:

1. Explain that you are all going to live on a desert island with no facilities
2. You are allowed to take seven of the times with you
3. Ask your child to decide which items to take and why

Variation: use ten toys you or they have bought over the last year

3. What’s your priority?

Deciding what is important can require a lot of thought. This activity helps children see how we have to make difficult decisions about what is impotant and what is enjoyble. 

You will need:

• A set of essential items cards. Print them off and cut them up

What to do:

There are different ways of approaching this:

1. Ask your child to order the items from the ones they enjoy the most, to the ones they enjoy the least. Repeat but order the items by how important they are
2. Or ask your child to put the items into three groups: Fixed costs you have to pay; Can control spending; Make life enjoyable - some fo the cards may go in more than one group

Variation: One parent put the cards out and asked their child how much they thought each item cost first.

Discuss what would happen if you didn't pay for one of the items.

4. Energy costs game

Find out how much it really costs to leave those lights on or take a long shower. A good place to start a conversation about how to reduce energy costs and save the planet at the same time.

You will need:

• Energy ranking cards, print out and cut them up
• Or you can use the online version, energy costs game

What to do:

1. Cut up the energy ranking cards and put them in two piles. One with the picture of the item, one with the cost
2. Start with the picture pile. Ask your child to put them in the order of the most expensive to use to the least expensive. Pay attention to how long and often they are used
3. Match the appliance with the cost cards to find out if they were right

Here is a list of the appliances and how much they cost.