Ah, they grow up so fast don’t they! Children, especially those raised in a digital world will know how to spend money in creative ways.
Can Video Games Teach Money!?
Video games live in a golden age. It is an industry that covers many different themes and fields, from those who opt for virtual or augmented reality to the more classic ones such as role, adventure or sport; from the most advanced consoles to the computer through the mobile. In this vast universe, there is also room for economics and finance. Learn major entrepreneurial skills from a game like Rollercoaster Tycoon, or auction skills through World of Warcraft.
According to statistics, a lot of people play video games, a figure that continues to grow of course, and there are even people who say that this market is more important than film and music. That is why today, we present these five video games that will help you increase your financial knowledge.
If you are a parent please advice guidance ratings for each game.
Five Games That Teach Money Skills!
1: RollerCoaster Tycoon
In the game RollerCoaster Tycoon, the point is to be the planner of a theme park. You could build monstrous roller coasters, kiddie rides, and concession stands as well. Over time you’ll have to navigate certain issues like customer satisfaction (some get sick and throw up), and overall park cleanliness. To win you to have the ability to innovate and manage finances.
In the late 90’s Sim Theme Park Games were introduced, but RollerCoaster Tycoon eventually took over this market and is still available as a port through Android and iOS.
2: World of Warcraft
This іѕ аnоthеr gаmе thаt increases financial knоwlеdgе, аnd іt is widely considered thе gоld standard оf thе еntіrе Massive Multiplayer Online Role Playing Gеnrе. Thе gаmе offers рlауеrѕ a соmрlеtе еxреrіеnсе frоm bеgіnnіng tо еnd with well-written quest lіnеѕ, responsive соmbаt, a еnоrmоuѕ gаmе world tо еxрlоrе, еndgаmе rаіdіng, аnd muсh mоrе. Thе game wаѕ оrіgіnаllу lаunсhеd back іn 2004, but ѕіnсе іtѕ original rеlеаѕе, thе gаmе hаѕ еnjоуеd numеrоuѕ expansion расkѕ, еасh оf whісh іntrоduсеd a lot оf nеw соntеnt tо thе game and continued to rаіѕе thе lеvеl сар.
People still play the game due to its real-world situations, like teaming up to reach goals (killing foes), and trading and bartering!
Another option is Monopoly, which takes advantage of all the player’s negotiating skills. With practice and ability, players become small entrepreneurs and develop real estate projects where they can integrate the basic financial concepts of saving, spending and investing. Just don’t get too mad if the player you are against hogs all the real estate! Recently, Monopoly introduced a new Millennial version of the game that is sure to be controversial. The motto for that game is “Forget Real Estate, You Can’t Afford it Anyways.” Hmm…
4: The Sims
This real-life simulation game can help you learn to look for work, take care of a home, and your children and even practice dating scenarios (our favorite part). Just like HGTV’s House Hunters, you can be a paper clip salesman and get yourself a mansion if you know the codes to extra money. In you can choose to use cheat codes, but just like life, cheat codes can speed up real life and make it boring in the long run!
5: AdVenture Capitalist
AdVеnturе Cаріtаlіѕt is a game where уоu ѕtаrt оff wіth a lеmоnаdе ѕtаnd and thеn build your business far enough to expand on other ventures. Evеntuаllу, уоu’ll bе аblе tо hіrе managers whо’ll run уоur соmраnіеѕ fоr уоu, and ѕо уоur саѕh wіll соntіnuе tо increase.
Onсе уоu rеасh a сеrtаіn роіnt, уоu’ll bе able tо multiply уоur іnсоmе bу brіngіng аngеl іnvеѕtоrѕ оn bоаrd, but уоu’ll hаvе tо rеbuіld уоur еmріrе frоm ѕсrаtсh іf уоu wаnt tо rеар thеіr rеwаrdѕ. And ѕо thе gаmе gоеѕ оn: mаkе mоnеу, buу mоrе buѕіnеѕѕеѕ, mаkе mоrе mоnеу, restart wіth bonuses, mаkе mоnеу, rереаt. It’ѕ ѕuреr simple, ѕсаrіlу аddісtіvе ѕtuff. It іѕ vеrу hеlрful іn bооѕtіng fіnаnсіаl knоwlеdgе!
Honorable Mention: Minecraft
Though you really don’t do anything in terms of money, a solid Minecraft player can learn a bunch about coding and engineering. After all, the basis of the game is to build stuff and play with your friends online. These skills can be turned into careers which could make someone money down the road.
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Should you give Kids their own Mastercard?!
While it is a Mastercard Debit Card, typically accepted at most domestic stores, restaurants, and more, parents have complete control of their child’s spending with Greenlight. As you might suspect, once a user signs up, you’ll be able to give your kid(s) their debit card for use. Through the app you’ll be able to:
- Turn on Accessible Stores (or Greenlight them)
- Send (Reload) Money manually or through allowance
- Freeze the card entirely from the mobile app
- Host up to 5 children on one account, each with their unique card
- Set Category-specific funds: gas money, food money, etc
- Set Store-specific funds: money that can only be spent at the local coffee shop, school cafeteria, etc
- Works with Apple Pay
- Works in 120+ Countries
Parents can fund their kid’s “spend anywhere” accounts. They won’t be able to draw money from ATMs, but they will be able to spend anywhere they want!
What is the cost of Greenlight?
Greenlight is a company founded by parents themselves who have fought hard to solve a problem. It seems like this unique personal finance product could be a staple in everyone’s household. The cost of using this App / Card combo is just $5 a month per family! If you’d like try Greenlight we have an exclusive deal:
Try Greenlight for 30 Days and get $10 in your account once those 30 days are up!
Want an Alternative to Greenlight? Try the FamZoo App
Although we love Greenlight, there is a competitor in the space called FamZoo. They offer a similar approach to managing your child’s finances but have been around for a bit longer. A few of the features included in this service are:
- Prepaid MasterCard
- Fully Function and Available App
- Incentives for Saving and Chores
- Allocate Money for Emergencies
- Semi-Annual (6 Month) Pricing at $30 ($4.33/mo)
- Monthly Pricing at $5.99