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Do you talk to your children about money? Last year, I decided it was time to start giving my children pocket money when it became clear that they didn’t really have a clue about how much things cost. Since then I have encouraged them to save up for things they want and do extra jobs for extra cash. Teaching them to save up for things they want so that they can understand the true cost of things. But I have never really spoken to them about banks and interest rates and loans.
This week, Natwest Money Sense have launched their first ever video game. Island Saver, for children aged 7-12 years which teaches them about money management in a fun way. The game is free-to-download and available on PS4, Xbox One, Nintendo Switch and Steam.
Download the game for free here
With everyone at home and looking for educational ways to keep their children entertained, it’s perfect timing! Logan has been trying it out really enjoying it.
The concept is clever and also builds in important environmental factors too that are really topical, such as the environment. Logan started by getting a job cleaning up beaches, every time he cleaned up part of the beach he would earn a coin. Then he could open his own bank account, even creating a pin code.
He then went to save up his own money and bought his own island! The game teaches children concepts such as interest and tax. The idea is that children learn about managing money through play. How better to learn these things via a game on their favourite console? Where it feels like a game, rather than learning?
In case you are concerned that cleaning up rubbish is a bit boring, don’t worry – it is made fun with a trash blaster gun!
The good thing is that not only is the game free, there are also no in-app purchases (one of my bug bears!). There a couple of expansion packs, but they can be bought for a ‘pocket money’ amount of £4. All proceeds go to two charities in the UK – Young Money and SpecialEffect.
NatWest has also developed a series of Island Saver activity sheets to accompany the game, which you can download for free to explore some of the topics covered in more detail such as saving money and even foreign money exchange.
For more information about Island Saver, check out Natwest Money Sense.
Yes, I agree that parents need to teach their children about saving money and also for being responsible and accountable to their words and actions. – Dan “Jay” Reyes
We as parents do need to start them early learning about money. They need to understand the value of it and be more mindful when they freely ask for it without thinking about what it may have costs to earn that money.
I am for sure going to check this out for my kids. I am loving that it can be used on the various popular game units as we have the Xbox and the PS4. Thank you for sharing and going to head over now to check this out.
This game idea is ingenious and man they will come out understanding this stuff so well, because they are having so much fun. Maybe I need this game for me! LOL
What a great idea. It is so important that kids learn about the value of money and how to save and not spend x
Anything that helps promote the importance of saving is a good idea. It’s something I want my kids to know and do.
Financial literacy is definitely something to work into kids lives early on! This looks and sounds like a great resource. I’ll be sure to check it out
This sounds like a great product! It is super important for kids to learn about money at an early age.
This is one of the important skill we need to teach since young and glad this tools looks fun too.
So important that children understand how money is earned and how to budget the amount of money they have available.