As a child, it’s likely your gateway towards financial literacy was a porcelain piggy bank. The more it digested the more money you owned. It was a simplistic system that laid the groundwork for you to become a financially stable adult that is now responsible to pass your knowledge to your kids. SO have you done it yet? If you haven’t, you’re not in the minority. Several studies over the past few years report that parents are more comfortable talking to their kids about the birds and the bees than about their child’s financial future. Still living in the aftermath of the recent recession, it is important now more than ever, to plant the green seed in their minds as young as five. Thanks to our rapidly expanding technology, you do not have to teach alone. There are several apps, some even free, that are entertaining and enlightening stepping stones to your child’s financial education:
Green$treets: Unleash the Loot!
Rescue endangered animals, build relationships, set goals, earn money, budget, and give to charity with this new interactive app. The more gardens planted or items stored away, the more earned! It’s up to the user to decide how much more is given to food for the rescued animals, how much is given to charity, and how much is to spend on decorating the tree house. The user can have fun with their endangered animal before they are ready to be released back into the wild.
Temple Run for the financial savvy. Experience the entertainment of an endless running game with a little educational twist. In this app you must run through the streets to get all of the items on your shopping list while collecting money and coupons on the way. If you avoid the obstacles and get to the finish line, you can then purchase items while trying to save as much money as you can. Have fun running and investing simultaneously.
This visual electronic piggy-bank adapts old saving technique for a more comprehensive look for a young generation. Organized into categories of spending, sharing, and saving, kids now get a better representation of how much they need to save to reach the goals they set up in the app. Users can now learn early when it’s appropriate to save for a “want” and when to save for a “need.”
Motion Math: Cupcake!
Cupcakes have been so educational as well as being delicious. Set up a cupcake business by buying the ingredients, designing the cupcakes, and then setting up your own prices for them. Save enough money to continue to upgrade your store, and solve world problems through your customers’ orders.
A winner of multiple awards, Saving Spree teaches kids how to save for large goals, small goals, when to donate, how to invest, and what lifestyle choices to make to be more financially successful. Play multiple games which earn you money and it’s up to you to decide where it goes. The more you save though, the bigger your nest egg becomes, and who doesn’t want a larger nest egg? Fun and financially recommended!
For more apps to use to teach your children about finance, you can read the full US News & World Report article.