We all know that games like Monopoly reinforce math skills such as counting money, making change, adding and subtracting. My husband and I discovered yesterday that the game can go beyond that in teaching your kids principles of handling money. We have been through Dave Ramsey's program Financial Peace University. (If you have not heard of Financial Peace University, I strongly recommend you look into it.) One of the principles Dave Ramsey teaches is saving for purchases, and avoiding debt whenever possible.
I overheard my husband explaining these principles to our son, Luke, yesterday during their monopoly game. He told Luke to really think about the property purchase he wanted to make. My son only had enough money to make the purchase with very little left over. My husband explained that he needed to look toward the future and predict what might happen if he landed on someone else's property. Then he went on to explain that we don't believe in going in debt, but rather saving for future expenses. Luke realized that he was going to need that money, and although he really wanted to purchase that property right now, he passed by without purchasing it.