This is a fun exercise based on an app my niece and nephew shared with me that had you spend Bill Gates’ billions.
So, give each person $1B and ask them what they would spend it on.
You can list options like:
apartment building $500,000
luxury yacht $750,000
sports car $200,000
office building $2,000,000
luxury vacation home $1,000,000
private island $1,500,000
or you can let them do a little research and choose for themselves (especially if they are a little older).
Compare purchases.
Discuss whether the items purchased are likely to increase or decrease in value.
Discuss whether the items purchased will cost money or bring in more money.
This is a great way to plant the seed of investing for when they are older. It is never to early to start teaching them how to leverage their money so it makes even more even while they enjoy what they have!
This is why it is recommended you have equal allocations to fun/play, investing, saving, education, and giving. You do not want to be so focused on being debt-free that you forget how to have fun. Enjoy!