3 Apps to Help Teach Your Kids About Money

3 Apps to Help Teach Your Kids About Money
October 16, 2017 Toohey Reid

As accountants, we can’t stress enough how important it is to teach your kids about money so they’re successful later in life. Haven’t you ever wondered what your life would be like if you had learned more about finance at home or in school?

Taxes, superannuation, investing, budgeting, managing your money….these are all things that are not taught as much as they should be. Thankfully, the evolution of screens has meant the evolution of learning. Kids can now learn all about budgeting, finance, savings goals and more through fun and interactive mobile apps. Plus, it gives you a little peace of mind!

Here are our top 3 picks:

1. Bankaroo

Bankaroo is a virtual bank for kids, teaching them the value of money in a simple and fun way. This app is one of the most popular kid finance apps available and better yet it was created by an eleven year old girl #kidentrepreneurs! This app allows parents (or teachers) to create and manage the accounts. The kids have their own log ins and learn how to become responsible for their money, set goals and watch their balances grow.

2. Savings Spree

Teach Your Kids - 3 Apps to Help Your Kids With Money | Toohey Reid

Forget shopping sprees, what about Savings Spree? This game teaches young children about the concept of earning money through work. This is a lesson they do not usually learn until teen years when they start part time employment / weekend work. Get your little one learning valuable lessons from the get go with this fun game.

3. Motion Math: Cupcake!

Teach Your Kids - 3 Apps to Help Your Kids With Money | Toohey Reid

Want to boost your kids’ entrepreneurial flare while teaching them the importance of a dollar? This is the app for your family! Kids have to be the boss running all aspects of their own cupcake business from building the shop, buying the ingredients, designing the cupcakes, setting prices and keeping the customers happy. It also encourage the kids to save their money to make improvements to the store and have access to more premium ingredients.

Money can be tricky no matter what your age is. Got questions about your own finances? Contact our highly skilled advisors and we can help you build a better financial future.

General Advice Disclaimer

General advice warning: The advice provided is general advice only as, in preparing it we did not take into account your investment objectives, financial situation or particular needs. Before making an investment decision on the basis of this advice, you should consider how appropriate the advice is to your particular investment needs, and objectives. You should also consider the relevant Product Disclosure Statement before making any decision relating to a financial product.

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