Board games like Life and Monopoly can provide endless hours of entertainment and impart important financial lessons. While playing these games, depart some wisdom to your son or daughter.
For instance, in Life, players can choose whether or not to have a house, children or purchase car insurance. These decisions can end up being costly if the player lands on the wrong space. Use that as an opening to discuss the impact of these decisions.
Similarly, Monopoly teaches you that you should buy a blend of properties -- an easy opening to discuss diversification with your kids and why they shouldn’t put all their eggs in one basket. You can talk about planning for investments wisely, budgeting, and any number of financial lessons.
(Image via Flickr)