Financial experts argue Monopoly's new, cashless design could deprive children of important financial lessons.
Hasbro announced Wednesday it will release a version of the classic board game Monopoly designed for the digital age. But financial experts argue the game’s new design could deprive children of important financial lessons.
‘Not having access to cash, both real and play money, does make it harder to teach younger kids about money and money management.’ —Laura Levine, president and CEO of the JumpStart Coalition for Personal Financial Literacy This is not the first time Monopoly has reflected today’s cashless world. A 2006 edition of the game in the United Kingdom featured Visa-branded V, -0.17% credit cards instead of paper play money. Similar versions of the game are also available in the U.S.
By removing the physical element of the game, some argue that Monopoly’s usefulness as a tool to teach children about money is reduced. As a result, playing with literal Monopoly money can impart important financial lessons. “Bankruptcy is a lot more painful when you have to reach across the table to hand someone your last dollar,” Strbich said.
Parents need to take an active role in promoting financial literacy Cashless or not, board games like Monopoly shouldn’t be viewed as a replacement for having real conversations around money, spending and saving. “Parents can’t expect that games alone will do all the teaching,” she said. “The teaching and learning comes from discussion and guidance. We can use these other tools to make it real and bring it to life.
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