Mummy showed me the money…

Growing up for me there was always a huge significance on money and making the most of it. We played games like Monopoly and Cash Flow as a family, and my mother always encouraged out of the box thinking. We were encouraged to think critically about decisions like where to invest our money; for example in Monopoly there is an opportunity to decide whether you’d like to put your money in Whitechapel Road or Mayfair, knowing you only have £500 in your hand. Do you splash out on the luxurious Mayfair, knowing it will seriously eat into your cash, or do you opt for a safer investment, especially in case you will draw a chance card that presents an emergency? It’s always better to introduce kids to complicated subjects subtlety, making it fun and interesting – it makes learning easier.

Encouraging financial skills at a young age is crucial especially when surveys suggest that some adults first learn about money when seeking help to manage debt. I fell out of work and realizing my kids had not grasped the impact of this situation on our finances, I identified a unique opportunity to teach all children about money; at a time schools did not offer FinEd. Supported by Barclays and a host of others, the personal finance toolkit and educational board game – bMoneywize was created.
Encouraging financial skills at a young age is crucial especially when surveys suggest that some adults first learn about money when seeking help to manage debt. I fell out of work and realizing my kids had not grasped the impact of this situation on our finances, I identified a unique opportunity to teach all children about money; at a time schools did not offer FinEd. Supported by Barclays and a host of others, the personal finance toolkit and educational board game – bMoneywize was created.

I had the added benefit of my mother developing a new board game with the concept of financial literacy and the management of money in mind. The BMoneywize Maths Game is adept at juggling tricky concepts and introducing them in an interesting and accessible way by adapting financial situations for kids. By presenting scenarios the kids can relate to, you allow them to put themselves in teachable moments. These moments then serve as opportunities to explain concepts like passive income, budgeting and saving! As a young adult I am glad I was introduced to these concepts earlier on, so they became second nature to me.

When I left for university a few years ago, I saw first hand how this knowledge was extremely helpful. Being in charge of my own money for the first time was an experience I am grateful for. I learned about setting up direct debits and planning ahead. I think it’s fair to say I have been able to manage my money effectively and when faced with an emergency situation (like being locked out of my house or having a larger phone bill) because I played financial literacy board games.

Best,

Dammy

Copyright ©Dammy Opara 2018

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