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While young children don’t have to worry too much about money management, it is something that they’re eventually going to need to understand by their teen and college years. Teaching them about managing money can make sure they understand the value of a dollar – even from an early age.
Teaching the basics of money is fine, but many children learn more when taught in an interactive manner. That’s why apps for tablets and computers are becoming so popular in classrooms.
You might think that all the money management apps out there are for adults, but there are actually quite a few good ones that are designed to teach kids about money. Below, you’ll find a few of the best ones that can be used in the classroom:
Learning Gems: My Piggy Bank
The My Piggy Bank app is one that teaches kids about the importance of saving money through a game. This app is full of bright and vivid colors that have been geared towards grabbing the attention of young children, and entertaining them with a game that allows them to put money into a virtual piggy bank to build up their virtual savings. The app even shows deposit growth to educate kids about the value of making small contributions to a savings account from an early age.
Peter Pig’s Money Counter
Similar to the My Piggy Bank app, Peter Pig’s Money Counter is another game that teaches children about savings, as well as it also helps kids to understand different currency values from cultures all around the world. This game not only teaches kids about money, but also teaches them about geography. Peter Pig’s Money Counter offers a simple money counting game that kids can play on their own to improve their math skills and the use of their native currency.
Money Metropolis is an game that teaches kids how to set a budget and make considerations in regards to debt management through planning an activity like a road trip. During these planned excursions, situations arise – like needing gas on a road trip – that teach kids about unexpected expenses and how money needs to be saved and used wisely. Money Metropolis uses a fun game to help kids understand how spending and saving affects their bottom line, which is certainly a valuable lesson they’ll use in their adult years.
Whether the kids you’re teaching are sports fans or not, Financial Football is a great app that helps children understand all sorts of financial situations that they’ll face in the real world. The app, which is free to download, basically functions like a quiz game with a football theme, giving kids the ability advance and score points and touchdowns when they provide right answers.
Teaching kids about how their financial decisions will impact them might seem like something that can wait until the teen years; however, kids that learn about money early on will be more likely to make wise decisions – even when it comes to investing and saving the birthday money Grandma gave them.
Lifelong financial habits can start early, and it’s never too early to help kids develop good habits that will help them achieve financial independence as adults.
This is a guest post from Marcela De Vivo
Marcela De Vivo is a freelance writer from Los Angeles who writes on a variety of topics.