Objective

By the end of this lesson, Brodi will have a better understanding of money management, including concepts like budgeting, investing, and the impact of financial decisions, all while enjoying a game of Monopoly.

Materials and Prep

• Monopoly game set
• Pencil and paper for notes and calculations
• A timer (optional, for timed activities)
• Space to play the game comfortably

Before starting, familiarize yourself with the rules of Monopoly and consider discussing basic financial concepts that will be relevant during the game.

Activities

• Monopoly Game Play:

  Start by playing a standard game of Monopoly. Encourage Brodi to keep track of his money, property values, and expenses. Discuss strategies as the game progresses.

• Budgeting Challenge:

  After a few rounds, pause the game and ask Brodi to create a budget based on his current assets and liabilities. This will help him understand how to manage his finances effectively.

• Investment Discussion:

  Midway through the game, have a discussion about the properties and their potential value. Ask Brodi to think about which properties he should invest in and why.

• Financial Decision Reflection:

  At the end of the game, reflect on the financial decisions made during play. Discuss what worked, what didn’t, and how those decisions can apply to real-life financial situations.

Talking Points

• "In Monopoly, just like in real life, managing your money wisely can lead to success. How do you think budgeting can help in the game?"
• "Every property you buy is an investment. What factors might make a property more valuable?"
• "How does the concept of 'cash flow' apply in Monopoly? Why is it important to keep track of your money?"
• "Think about your spending decisions. Did you buy properties you didn't really need? How can that relate to real-life spending?"
• "What strategies did you use to negotiate with other players? How are negotiation skills important in managing finances?"
• "When did you feel financially secure during the game? How can you replicate that feeling in real life?"
• "What did you learn about risk-taking in terms of buying properties? Is it always a good idea?"
• "How did your decisions affect your competitors? In real life, how do your financial decisions impact others?"
• "Reflect on your budget during the game. Did you stick to it? Why is it hard to stick to a budget sometimes?"
• "Did you find yourself prioritizing short-term gains over long-term benefits? How can that affect your real-life finances?"
• "What role did luck play in your success in the game? How does luck compare to planning in real life?"
• "What would you do differently if you played the game again? How can learning from mistakes help in real financial situations?"
• "How do you think the skills you practiced in Monopoly can help you manage your money in the future?"
• "Why is it important to learn about money management now, rather than later?"
• "What was the most fun part of learning about money through Monopoly? How can you apply that enjoyment to learning more about finance?"