Managing My Allowance

Managing My Allowance -A more balanced approach to spending and saving.

I have used a Monopoly game on occasion over the years to give kids a chance to make change and use big bills. I also have money games where allowance and purchases are under $10. I like Managing My Allowance because it bridges that $ gap and is somewhere in between and it features a more balanced approach to spending and saving. I also like it because someone is not always heading for bankruptcy.

Managing My Allowance comes with a game board, a financial record (see image below), "monopoly" bills and coins made out of a card stock (printed front and back like the real thing). There is a spinner on the board that has numbers from 1 - 5.

The board has instructions on each space you will land on. In the four corners are opportunities to make a deposit in your college fund. There are seven spaces that allow you to collect $25 allowance. There are several squares that let you gain extra money through earning, winning or being gifted. There are a couple spaces that cause you to lose a turn. There are 4 categories for buying, with each being labeled with either A, B, C or D. Each will have a regular price and a sale price. If the spinner says SALE, you get that price. If it doesn't, you get the regular price. Here is an example from each category:

• A - Softball bat - regular price $109.95, sale price $69.50
• B - Electric toothbrush - regular price $99.50, sale price $74.95
• C - Track Jacket - regular $49.50, sale price $34.95
• D - 2 Big Top Circus tickets - Evening $24.50, Afternoon $15.00 

The financial sheet.

To see other games that help build money skills, check out my post on money games here.
 
Object:
Be the person who has saved the most money after someone has bought one item from each category and the game ends.

Set up:
Place the board in the middle of the players. Give each player $100. Place the rest of the money in an area that will be called the "bank". Give each player a piece of paper and ask them to write the word SAVINGS on it. This will serve as a place for each player to deposit his savings. Make a copy of the financial record sheet. Cut it into fourths and give each player one piece. Each player chooses a pawn and places it on the start square on the game board.

Play:
In turn, players will spin the spinner and advance that many spaces clockwise on the board. Follow the directions on the space where you land (more information about that above). When you land on a square that instructs you to deposit money in your college fund, it will be up to you how much to deposit. Play until someone purchases one item from each category. That will end the game and the person who has the most money from their college fund and money saved on purchases combined is the winner. 

Try this:

• Choose one person who needs to practice money skills to be the banker, or let each person make their own change.
• Exchange the cardboard coins for real coins. Get used to the weight, size and look of the real thing.
• Work on visual discrimination, coin identification, counting money, making change, saving money, planning, comparing prices, salves vs regular prices discussion, keeping a financial record, manual dexterity, socialization skills, process skills, play and leisure exploration and participation

If you are interested in purchasing this game or just want more information, click on the image below.