Ways to use technology as a teaching tool.
Have you talked to your kids about money? Nearly two-thirds of U.S. parents have, according to a BMO Harris report — yet only about half have started to really engage their youngest children in financial literacy.
Really, there’s no wrong time to kick-start a conversation about money management with your kids. To make things a little more fun, we’ve rounded up four engaging apps that will help them wrap their heads around everything from saving money to creating a budget.
- iAllowance (Ages 4 to 9)
- How it works: Parents can opt to have kids work towards a goal, either monetary or not (for example, an hour of TV time). The app helps track their progress as they complete chores or other tasks around the house — and will even send kids reminders to complete tasks.
- What it teaches: How to set a goal and make a plan to achieve it. Kids will also appreciate having to work to earn the things they want.
- Where to find it: It’s $4.99 in the App Store and works on iPads and iPhones.
- Keep the Change Kids (Ages 6 to 8)
- How it works: Kids must try to match the given change amount by dragging coins to connect them vertically, horizontally or diagonally, making as many matches as possible within the time limit.
- What it teaches: Before kids can create a budget and track their spending, they need to understand monetary value. This educational app will help them learn to recognize coins and master basic math skills through interactive lessons and a challenging coin puzzle game.
- Where to find it: It’s free in the App Store and works with both iPhones and iPads.
- Savings Spree (Ages 7 and up)
- How it works: Money Savvy Pig, the app’s game-show host, takes kids through six rounds of money-related questions to test their financial knowledge and help them build money management skills.
- What it teaches: In this award-winning app, kids see how everyday choices can add up to big savings — or costs. Key concepts include earning money, saving for short-term goals, spending wisely, donating or investing money, and having money on hand to deal with unexpected expenses.
- Where to find it: It’s $6.99 in the App Store and is compatible with an iPhone, iPad and iPod touch.
- Renegade Buggies (Ages 13 and up)
- How it works: In this fast-paced game, kids power-up their supercharged buggies to get items from their shopping list — while collecting coins and coupons along the way (and avoiding obstacles!).
- What it teaches: Kids learn budgeting concepts, such as how to spend wisely and be financially responsible, by using strategies like comparing prices, buying in bulk and using coupons.
- Where to find it: This award-winning app is free in the App Store and is compatible with iPhones, iPads and iPod touch.
Get more ideas on helping kids learn about money with our 5 fun ways to help your preschooler learn about money. If your children are older, check out these 6 simple ways to start preparing your teens for financial independence.
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