Budgeting Fun for Summer

When you think of fun summer activities for the family, you may think of camping, sitting out under the stars or maybe catching some rays down by the pool. Even though it’s a valuable skill, learning how to create and maintain a budget probably doesn’t make your top ten list of fun things to do. If only there was a way to combine summer fun with learning how to effectively make a budget…

Games are a great way to combine fun with learning, and fortunately when it comes to learning about budgets there are some great classics out there. Payday, the Game of Life and the granddaddy of them all, Monopoly, are excellent choices. After all, you’ll need a budget and a plan if you want to slap down those fancy hotels on Boardwalk and laugh when unsuspecting family members come to visit. 

It doesn’t have to be just board games. For example, Visa and the NFL have teamed up to create Financial Football, an interactive game where players manage money and answer questions to gain yardage and score touchdowns. 

Remember, any game can be modified. The idea is to teach kids how to manage a limited amount of resources to best accomplish their goals. 

In past days, enterprising kids would set up a lemonade stand. In these days of social distancing, it’s a little more challenging. But just because your state and local ordinances may not permit it, doesn’t mean you can’t use your imagination. Sit down with your kids and go through a thought exercise of setting up a lemonade stand (hint: they call it playing pretend). How will they make a profit? How will they set it up? Where? Will they use their money to buy a new videogame or plow it back into the business? 

Budgeting is a valuable skill that can pay lifelong dividends. It doesn’t have to be dry and boring either. When you combine it with fun games and real-world examples it can be a great learning experience for the whole family.