As a parent, it can be frustrating to see your kids always glued to their devices. You might worry that they’re missing out on parts of their childhood that children enjoyed before technology was a constant companion. But if you shift your mindset a little, you can start to see tablets and smartphones not as ways to replace traditional childhood experiences, but rather to enhance them.

That isn’t to say you should allow unrestricted screen time. Encourage your kids to enjoy active outdoor lifestyles with plenty of face-to-face socialising with peers, siblings, and elders, so that they grow up fit, healthy, and well adjusted. But technology has a place too, especially when they’re socialising with friends and family. Smart devices give us free access to a vast amount of knowledge in a variety of fun and interesting forms. They enable your children to explore new interests and access sites that teach vital life skills in many areas.

For instance, computer games can teach youngsters the basics of business and money management. While they’re having fun outsmarting the game, they’re learning practical, hands-on lessons that will prepare them better to manage their own money and businesses as adults. There are plenty of educational games that can help them learn about money. We’ve identified 5 that we think are helpful, but you’ll find lots more by browsing online according to your child’s personal interests.

Top 5 games to boost financial literacy

Think about the financial lessons you wish you’d learned earlier to avoid some of the mistakes you’ve made. Here are 5 types of games that will engage teens and tweens and help them become better at managing money:

Online trading simulators

Online trading isn’t easy – it’s a skill that even adults may struggle to master. Online trading simulators allow you to learn and make mistakes without losing any real money. There are loads of options – Investopedia and Yahoo even have their own games to let kids dabble in the world of forex and investments.

If you want to learn more about the world of the JSE and Wall Street, these simulators are great for adults as well. Consider starting a competition with your children to see who can build the best simulated investment portfolio. Trading simulators are fun, educational tools to learn about market dynamics, practise strategic thinking and develop financial expertise in a risk-free environment.

Fantasy Football

Fantasy Football is a fantastic way to get teens who love the beautiful game invested in money management. This popular game merges the real world of football with a gamified fantasy version online. You can buy and sell soccer players, and the real-life performance of these players affects how your fantasy team does. It teaches teens that even if they like a player, they must consider their performance before investing money in them. Kids can learn about strategy and financial decision-making while they gain a better understanding of the pressures of real-world sports management.

Monopoly Go

This mobile game puts a modern twist on the classic board game, perfect for keeping teens engaged while they learn how to manage property investments. Monopoly Go throws curveballs with unexpected cash flow and expenses, challenging players to figure out how to manage their money while growing their property empire. Players must think strategically about their investments and savings, as well as the potential financial losses that could crop up on their next move. It’s a game everyone can enjoy, and you can even whip out the classic board game for family game night as a low-tech alternative.

The Sims

The Sims has been around for ages, getting more intriguing with each update. The game allows you to create your own world and make your own decisions. Your player, known as your Sim, will have to navigate the Sim world. You must make sure that they eat, stay hygienic, get a job, and spend their money wisely to build a great life. Poor decisions can have dire consequences in the game. If your kids want to keep their Sims happy, healthy, and thriving, they’ll need to be smart and strategic about the life choices they make. It’s a good game to teach valuable lessons about budgeting, time management, and the importance of making thoughtful decisions.

Chow Town

Chow Town by Nedbank is a fun, educational game in the Roblox metaverse perfect for South African kids aged 8–12. Players become ‘restaurant tycoons’, managing their own takeaway business in a futuristic African street market. This game blends cultural traditions with entrepreneurial lessons, emphasising positive financial messages. Children can socialise with other young entrepreneurs while they learn the cycle of running a business, from investment to sales. Players can upgrade their businesses to expand their customer base and earn more money. Nedbank is the first bank in Africa to launch such a game, and we believe the engaging gameplay can empower young people with valuable financial skills.

By integrating financial education into your kids’ games, you’re setting them up to become financially independent adults. Invest in their financial future by opening a MiGoals4Kids account today, and help raise a generation that’s as financially clued-up as it is responsible.