Teaching your kids about money at an early age is a great thing to do. It makes them appreciate that money does not grow on trees and that the bank of Mom and Dad does not result in an endless supply of treats and toys. Things cost money, so here are some of the best apps for teaching kids of all ages how to save!
This app is designed for kids and teens and allows them to experience what it's like to own their own business! From starting with a lemonade stand to being a CEO of a bank. Children also learn excellent management skills through hiring and firing employees for the "companies." The app is entirely free!
Adventure Capitalist, https://apps.apple.com/ca/app/adventure-capitalist/id927006017
We love Greenlight because it offers parents and their children the tools to manage their kid's money. Children learn how to use a debit card, and through that, they are taught how to spend, save, and invest their money! Parents can send money to their card through the app and kids cannot spend what isn't there, which is a pretty useful lesson within itself! The first-month trial costs US$4.99 and can be used for up to 5 kids.
Star Banks Adventure is a wonderful app that teaches children financial concepts in a fun way through puzzles, quizzes, and more. Children will learn more complex money management principles that include the dangers of risky investments, diversification, and asset allocation. The adventure starts with children roleplaying as space aliens who perform various “jobs” for which they are paid. Your children will learn how to save, spend and invest while having a great time. The app is entirely free!
Star Banks Adventure, https://apps.apple.com/us/app/star-banks-adventure/id973197426
This app is designed for kids and teens ages 4-17 to help them track how much money they have, how much has been given from their parents, and how much money is owed. Children can set their own savings goals and then manage how close they are to reaching their goal through easy-to-use charts. Teens are also given a payment card to learn how to spend responsibly.
Step is a great app specially created for teenagers, as they are offered a free FDIC-insured bank account. Teens can receive and send money instantly, and there is no monthly overdraft, ATM, or late fees associated with the account. The best thing is that it does not require a minimum balance, and the app is free.
PiggyBot is a colorful allowance tracker for both parents and kids. PiggyBot is a ledger sheet that tracks virtual money. The virtual currency of PiggyBot is terrific for busy Mums and Dads who don't always have cash in their pocket when it comes to paying out allowance or dispensing cash for an extra chore well done. Instead of handing over a paper bill, PiggyBot allows you to create an account and add money to that virtual account as needed. The app is free!
Savings Spree is an educational game in the game show format that aims to teach kids the value of money and how money works. Each of six topics is taught in a game show where the overall goal is to save money for a nest egg. Kids learn about earning or saving large amounts of money and actions that save small amounts that add up over time. Kids can play all six rounds together or one at a time. The app costs US$5.99.
In Renegade Buggies, players navigate a digital course and make real-world decisions in the midst of addictive fun: grab items from a shopping list, collect coins and coupons and watch out for obstacles - all to save as much money as possible. As a reward for completing various game stages, players earn Buggy Bucks, an in-game currency that can be used to purchase Buggy upgrades for even more game accomplishments. By capturing these situations in a game, Renegade Buggies engages parents and children in a joint-learning process. It also reinforces money-saving tips parents may or may not know while instilling the value of fiscal responsibility in children from a young age.
Renegade Buggies, http://renegadebuggies.familieslearning.org/
FamZoo is the perfect way to teach your kids the ins and outs of managing their own money. It also helps train their children to live within their means, save for the future, give generously, and learn how to achieve their financial goals. It’s packed with useful tools and is great fun for all the family.
Kids' Money is an interactive resource for parents, teachers, teens, kids, organizations and international visitors designed to help children develop successful money management habits and become financially responsible adults. It has interactive sliders which allow you to set savings goals. E.g. a new book, a new toy, a trip to the cinema. It’s a fab pocket calculator for kids to start them off on their financial journey.
Kids Money, http://www.kidsmoney.org/