Using Monopoly to Practice Math and Reading Skills
In celebration of Monopoly’s 78th Anniversary and the launch of its new Monopoly piece, the Cat, we wanted to highlight all of the ways this classic board game can help your children practice their reading and math skills.
1. Budgeting Your Money
Players are allotted a certain amount of money to pay expenses and invest in properties, which can help your children learn how to budget and spend money wisely. Practicing those skills in this game can help prepare your children when they are required to do the same later in life.
2. Real-life Applications
While playing Monopoly, players learn about mortgage values, return on investments, and how to calculate property tax as a percentage of assets owned. When auctions come up or houses are scarce, players can also learn about the economic policy of supply and demand.
A considerable part of success in Monopoly is largely due to chance, from rolling dice to the likelihood of landing on property owned by opponents and picking up favorable Chance and Community Chest cards. The probability of rolling a certain number, for example, can play into deciding what properties to buy or invest in and when.
4. Thinking Strategically
Although probability is a considerable factor in this game, the strategy that one employs can ultimately determine how likely you are to win the game. For example, buying Broadway, the most expensive property, is costly to develop and maintain. However, opponents pay hefty fees if they land on the space. Children will need to practice how to think strategically as they decide which properties to buy or invest in..
In addition, Monopoly can also help your children practice their reading skills through the Community Chest and Chance cards. When playing this game, be sure to ask your children to take turns reading each card.
What are some additional ways that Monopoly can help your children practice their math and reading skills?