Video games and money lessons!

By BankBazaar | February 19, 2015

Video games

Pencils and notebooks are no longer the only things equipped with literacy and financial know-how. If you think that online games can only do one thing – spoil your child, think again. Some geek gaming experts have designed digital games which schools are using to enhance the financial awareness among children.

Not all games are educational though. Those shooting-the-enemy games can hardly be credited to increase any king of practicality among children. But if you kid is good with her computer gaming skills then you can utilize it for the greater good; greater good being your offspring’s own monetary welfare. So what are these games? And how can they affect your child’s learning mind? Here are some important informational points to help you through.

Letting your child play video games

No, video games here are not referring to SuperMario, but rather Gen I Revolution where the kids learn to how to overcome the financial crisis. Indian schools have still not opened to let such games a part of their curriculum, but that should not stop you. These online games could be played by any kid belonging to any nationality, hell even you can play them!

Efficient money skills at a young age. The most important thing is perhaps these video games give you child a fair idea of what’s out there in the financial world. They teach about debts, savings, and power of investment. At the end of the day, you kid may end up even more knowledgeable about money than you were at her age.

Mix video games with the study schedule. Ask your child to finish up the homework and then she will play half an hour of your selected financial game. What happens? You kid learns to be punctual and how to follow routines and don’t forget the value of time she will learn.

Give them new challenges. What did Street Fighter taught your kids? The same old routine where they have to find the guy, get the goodies and shoot him, maybe. But games like Gen I revolution revolves around new challenges every day. The missions in these games revolve around paying bills, budgeting, calculating and decisions regarding expense-comparing. You child learns something new every time she logs in.

Child learns to manage money in real life. It’s not a rocket-science concept that all things children learn come from their parents, their friends and social media. Social media refers here to television and online games and surfing. When you encourage your child to play education inducing video games, she starts picking up on it and emulates it in real life too. Wouldn’t you love a child who knows that buying a Barbie can put a dent in her little wallet? Of course, you will.

Increased respect for classroom education. Most children see their classroom education just like that – only classroom education which has nothing to do outside the classroom. Now, parents will obviously disagree, and they should, but how do you explain this to children when you are regularly talking about the growing unemployment in country?

Instead, play the money video games with your children in their and your spare time. Tell them if they follow the rules in the game, they will know how to survive the actual financial crisis in life. Contrary to what parents think, even children sometimes want to spend their time in learning what is essential for their future lives.

Video games online with financial education

Thanks to the money minded people, there are some video games your children can play online while learning about financial management. Here is a list of such highly acclaimed games which even you can play.

Celebrity Calamity: What better way to teach your children than starting with a small budget to manage the spendthrift habits of a big celebrity?

Gen I Revolution: Designed especially for the middle school and high school students, this game teaches how to fend the personal financial predicaments. Multiple players can play it, so even you can accompany your kids while playing it.

Money Master: This game could be played by young kids, as this game involves mathematics skills. Children will have to count and put the change in a Piggy Bank within specified deadlines.

Bad Credit Hotel: Your kid will be given with the task of spending a night at hotel and then solving their bad credits problem.

The Great Piggy Bank Adventure: Children’s favorite Disney is behind this game, where kids have to save money in order to realize their certain goal.

 

 

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Category: Children & Money Money Management Yahoo

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Abhishek is responsible for BankBazaar.com’s Business Operations and Partner Management activities. Abhishek has a Master’s degree in Business Administration from S.P. Jain Institute of Management & Research and is a University rank holder in Engineering from Punjab Technical University. Prior to joining BankBazaar, Abhishek worked with the retail banking division of ICICI Bank and was handling diverse functions like Sales Operations, Customer Relationship Management and Cash Management, along with coordinating best practice projects like 5s,Six Sigma etc. Abhishek is also a green belt trained in 6-Sigma from KPMG and has a number of certifications from NSDL.

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