Expansion difficulty/complexity level: Easy

This is a basic savings account add-on for the Monopoly game to teach the principles of personal savings. The rules are few, with easy to calculate interest rates and a simple form to keep track of each player’s individual savings. While the interest rates are higher (for easy calculation) than they would be in a real-life savings account, this game can teach children the basics and benefits of saving money and how banking and savings accounts work.

Objective: Learning Basic Money Saving Techniques and Principles

• Develop a regular habit setting money aside for a rainy day or future investment.
• Watch your money add up a few dollars at a time.
• Experience the satisfaction of greater earnings and faster growth as interest rates increase with your balance.

To play the Monopoly Personal Savings Account Expansion

• Download and print out the Monopoly Personal Savings Account Statement (with rules)*
• The Personal Savings Account Statement contains a form for tracking:
  • Opening balance
  • Interest Rate which increases as balances grow
  • Interest Earned
  • Credits and Debits (Deposits and Withdrawals)
  • Closing Balance

Click on the image below to view a sample form

* The form comes in .pdf format and can be opened in Adobe Acrobat Reader or Foxit Reader, both of which can be downloaded for free at their respective sites.

Rules for Bank of Monopoly Personal Savings Account

These rules are included in the Personal Savings Account Statement download.

An account may be opened at any point during the game when a player lands on or passes “Go.”

• Minimum opening balance is $50
• Minimum account balance is $10
• Earning Period is 1 circuit of the board – “Go” to “Go.” Going to jail does not complete a circuit as you do not pass “Go.”
• Interest is credited at the end of the turn when the player lands on or passes “Go.”
• Interest Rates are tiered and increase with account balance:
  

  $10-$500	5% per period
  $501-$1,000	10% per period
  $1,001-$5,000	15% per period
  $5,001 and up	20% per period

• Deposits may be made after interest for the previous earning period has been credited.
• Withdrawals may be made at any time; however, interest is not earned on the withdrawn amount. An account is considered closed when all funds are withdrawn. A $50 minimum opening balance is required to re-open the account.
• Limit 1 savings account per player.

Next Monopoly Expansion: Bank of Monopoly Personal Checking Account.

Get more Monopoly Expansions at Our Fourpence Worth
http://pecuniarities.com/Monopoly

NOTE: The Monopoly game is copyrighted by Parker Brothers, a subsidiary of Hasbro. All expansions are original creations by Our Fourpence Worth and shared here for personal use only. Commercial use of these rules, forms and images is prohibited.

• Interesting Reads From Fellow Personal Finance Bloggers #12
• Joint Accounts to Maximize Cash Back and savings Interest Earnings
• Homemade Coin Bank for Saving Wayward Coins
• Simple Solutions to Staying Out of Debt
• Closing Your Credit Cards Can Hurt Your FICO Score

• The Importance of Automatic Savings
• Savings Accounts for Children
• You Need An Online High-Yield Savings Account - 9 Reasons
• Savings Accounts for Children
• Why is a Savings Account Necessary?

Did You Enjoy This Post?