We use chess and other games like Monopoly and Scrabble, to teach important life principles to children and adults.
Money Management w/ Monopoly (MMM)
There are several useful questions and ideas that a parent or adult can use with a child while playing Monopoly that will teach them useful principles about money and life, but here are a couple to get started with:
Q: Why buy property instead of just holding on to all the cash you begin the game with?
A: Having property allows you to generate income. An investment in property will lead to more money later.
PRINCIPLE: Being able to generate income through skills, knowledge, a business, or other investments is important.
PRINCIPLE: Investments now, in one's
education, bonds, stocks, real estate, etc. will lead to more money later.
Discussion point:
Offer the child you are playing with a "crazy" trade that would clearly be a bad one for them - like $50 for Boardwalk.