Monopoly As A Financial Learning Opportunity for Kids

March 27, 2022

For Christmas this year, my kids were gifted the board game Monopoly Junior. It has been a huge hit and we have played many games of it since the gift was given. My older child, 7 years old, sometimes functions as the banker. My younger child, 4 years old, calls the cash in the game, “my money’s”.

Interestingly, both kids now understand that the more properties you have, the higher the probability that you will win the game. And, they have now learned that if you land on Park Place and Boardwalk and gain a real monopoly on the property that the payout of double money for owning both properties will almost most definitely result in a win. What a concept at such young age!

The knowledge being gained in this board game is timeless. As an adult, I definitely understand why the game has been popular since it came into fruition in 1935 (way before my childhood years). Not only does it teach the concept of money to very young players, but it also teaches the importance of taking risk to make money. If you choose not to purchase a property, you will not win because you will have to pay your opponent if you land on the property and they own it. It also teaches the concept that no matter how low your funds are getting, if you pass “go” you will make $2 (Jr. game) / $200 (regular game), if you stick with it and don’t give up. This reinforces work ethic. It’s like a job, at the end of the pay cycle, there will be a reward for hard work.

Many people learn best by doing. What a great way to inspire young entrepreneurs!