Games that boost your ‘money mind’

How to teach life lessons around risk, reward, patience and uncertainty

Electronic games dominate today’s interactive home entertainment.

But the humble board game has boomed this year as families and friends spend more time inside.

Some board games are not only entertaining, but can also help players improve their money mindset.

Financial advisor and author Helen Baker says board games with a financial focus are great because of their physical element.

“You’re touching money and counting money” she says, “this is one thing we have lost in society with the whole tap and go trend monopoly.”

It estimated there are more than 2000 different versions, globally, of Monopoly where players become property tycoons while grinding their opponents into bankruptcy.

While modern board games tend to avoid this elimination aspect by keeping everyone playing until the end, Monopoly builds financial knowledge ranging from basic counting and maths to negotiation and real estate investment.

Baker says it teaches risk and reward patience and dealing with uncertainty. “You don’t know what you will land on when you roll. It’s almost like life” she says.

Psychologist, Phil Slade says the value in many board games is the conversations they spark around money. If parents are playing Monopoly with kids, they are talking about money, and that’s great.

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This article was originally published in News Ltd Smart Daily