Financial management is a vast and interesting subject.Many parents wait to teach their children about financial management when they get their first job, before they go off to school, or when they get married. However, the best time to teach wise money management is long before your children make any money for themselves.Here at Lauren’s House our Finance Teacher/Volunteer Cole Segreti has tried to make finance management a fun affair by making the kids play Monopoly.He teaches them the importance of investing and saving money by simplifying everything. There are two games that he has them play, one is a quick game where every round he pays them $100, they have $60-ish of bills to pay, and if they choose they can invest on a $5/$1 basis. This makes it a bit competitive between themselves. As we continue to play this game, more and more variables will be added. When we play Monopoly, it isn’t as competitive as one would normally play, it is more of a relaxed style where they realize that random costs of owing others money can be detrimental. It brings about the idea of money management and having a good amount set aside for unforeseen costs. With these two games, we hope to consciously get the children to think about saving money for a rainy day.
