Apps That Can Help Teach Your Kids About Personal Finance
You can’t fully prevent your kids from being glued to a multitude of devices and screens. Not unless you lock them in the house for the rest of their lives, but we’d definitely discourage that. So rather than trying (futilely) to keep your kids from technology like tiny Puritans, why not instill good and educational habits via tech?
If you’ve been struggling to teach your kids about personal finance, you can always go the modern parenting route of letting their smartphones and iPads do it for you! Because hey; if they’re learning how to budget their allowances in the 2nd grade, can you really complain about technology?
Here are three of the best free apps to teach your kids about personal finances (and to help keep the Angry Birds to a minimum):
The classic piggy bank just got an upgrade. Money is an abstract concept for young minds, so PiggyBot helps them to visualize their treasure horde of nickels and dimes.
The app itself is free, available on iOS devices, and simple to use, so even kids as young as 6 can give it a try. It helps kids to manage their allowances, visualize the money they have, and see how spending and earning money affects their virtual piggy banks.
Rather than just emptying out their IRL piggy banks onto the floor and staring at a complex currency that holds little ground in the world of a child, PiggyBot helps them to look at their money in a more specific and tangible way that makes it easier for them to grasp.
- Renegade Buggies
If your kid is already frighteningly excited to spend every penny of their allowance the minute it hits their little hands, then this is game can help them grasp the consequences of spending and the value of saving early in life. The fast pace makes it engaging for ages 6-11, and it’s addictive enough that they’ll want to keep playing this educational game.
It’s free and available to iOS and Android devices. The goal of the game is to save as many “buggie bucks” as possible throughout the levels; a useful skill that’ll stick with them as they grow.
- Green$treets: Unleash the Loot!
This free iOS/Android game sneakily uses kids’ empathy towards animals as a way to get them to budget their virtual money. Kids ages 5-8 can rescue their favorite endangered animals (bonus points for teaching kids important lessons about conservationism) by learning to budget the costs of feeding, housing, and playing with the animals before releasing them back into the wild.
It’s emotionally engaging, and has a great goal of helping others and learning to budget responsibly to achieve those goals at the same time.
You don’t have to spend any money in the app store just to get your kids to learn about personal finances… and they’ll even have fun while doing it! Any kid can start practicing good financial habits early on, and teaching them about finance doesn’t ever have to be a fight again.