What You Can Learn About Personal Finance From The Life Board Game

Want to teach your kids about personal finance? Then pull out the classic board game “Life.” Personal finance blogger Life teaches several practical money lessons including:

* Net worth is how you keep score.
* It pays to get a college education/the career you pick has a big impact on your life.
* College doesn’t always make a difference in your pay.
* Lose your job and you take a big financial hit.
* The more you make, the more you’re taxed.
* Kids are costly.
* Don’t get sued.
* Don’t get into debt.
* It pays to invest.
* Luck has a role in how well you do.
* Consumer spending can kill you.

Alas, the game is not always an accurate reflection of the real world. So I’m also listing lists a few ways the game reinforces some money-related ideas that simply aren’t true. That said, you can always explain to your kids what’s correct and what isn’t. Besides, can you think of a better way to teach financial principles than by playing a game?

Ok, so playing Life is a good way to teach your kids about personal finance. Now, what’s a good way to teach your parents the same thing?
How The Game of Life Teaches Personal Finance [Free Money Finance]