To help you and your family practice and reinforce the information and skills about financial fitness covered in this guide, we put together some activities and games that you can use.
Family Table Talk
When you sit down at the table to talk to your family about money, it can sometimes be hard to get the conversation started if you’ve never done it before. The following exercises can help you start discussions about money with your family.
1. Ask each person to write down what they would do if they won a million dollars. Ask them to share their ideas.
2. On small pieces of paper, write down the following questions and randomly give them out to everyone. Have everyone share their answers.
The best thing I ever saved my money for was…
The worst choice I ever made with my money was …
If I had questions about money and my finances, I would talk to ________ because _______________.
3. On a blackboard or large piece of paper, walk everyone through this exercise about how much money they would need to live on their own.
Ask them for their ideas about how much rent or mortgage payments, utilities, food would cost. Write it down.
Include entertainment, sports, birthdays, vehicles, and so on.
Introduce the idea of retirement and see how much money you would have to save to retire at 55, 60, 65.
The goal of this exercise is to introduce budgeting and the importance of starting to save at an early age.