Teaching kids about finances prepare them for a brighter future. However, it can be a challenging topic to teach. The following educational apps make it easier for kids to learn about money and finances.
The Importance of Teaching Finances
When a student graduates high school, life immediately gets harder. One of the biggest challenges involves money. With college comes bills, and with bills come financial responsibility. Children need to learn finances so they don’t fall behind on credit card payments, car payments, and more.
By teaching your children about finances, they can learn how to manage their money. And it might not be as difficult as you imagine.
Three Apps That Teach Kids How to Manage Money
If you have an iPhone or an iPad, iAllowance is a great option. The money management app teaches kids how to save money. Once you download the app, your kids can create financial goals and use tools to keep track of their allowance.
In addition to motivating your child to save money, this app teaches them about finances. It emphasizes the importance of reaching goals and saving for the future. This app is most appropriate for children between the ages of five and ten. Although it’s not free, the app is a worthwhile investment.
Although this is an older app, it’s still very relevant. The app has won several awards, including the Parents’ Choice Gold Award. It teaches children about financial basics and saving money.
In the app, there are games that teach kids how to make financial choices. Much like real life, unexpected things happen that make it difficult to manage finances. Children learn to prepare for anything.
Because it’s fun and kid-friendly, Savings Spree is a great app to get kids interested in learning about money. It’s the perfect combination of fun and education.
Although Bee Farming might sound like a fun and whimsical app, it’s also quite educational. The app allows your child to start a virtual business. With a swarm of bees and $100, she needs to build up her business.
Every week, the bees collect honey. Your child can sell that honey in a market. Then, she can use that money to buy more supplies or more bees. The game teaches how business works, how expense management works, and how to save money.
Do remember the classic board game called “The Game of Life?”
Now, that board game is available in the form of an app. Whether you have an iPhone or an Android, you can download the app.
The app is similar to the board game. It teaches children about making safe investments. As they play, your children will need to make financial decisions. Those decisions can either hurt them or help them.
As a multiplayer game, this app is fun for the whole family. You can get everyone involved and make it a little competitive. After it’s all over, everyone might know a little more about money management. The game is as fun as it is educational, which makes it a real winner.