Banking BasicsFinancial Tips

Tools to Teach Your Kids How to Manage Money

By February 19, 2015 June 22nd, 2015 No Comments

Alright parents, it’s come time to have “the talk”. Your kids are asking questions, coming home from their friend’s house with stories, and their overall curiosity is overwhelming. It’s time to talk to your kids about…. MONEY. Ha! I had you scared there for a minute, didn’t I? Maybe you’re still scared to talk to your kids about money because you don’t feel equipped with the right tools or knowledge.

Good news. We have two fun and totally free tools that can help you help your kids learn about money and how to manage it. What are these tools I’m referring to? Read on.

 

PiggyBot App

piggybot

This virtual piggy bank is a super fun and creative way to turn your child’s allowance into a learning tool. With Piggy Bot you can help your child set goals and the app will track their progress towards earning that goal. No money is actually exchanged; the app serves as a digital IOU for kids and parents to track how much kids have earned. Parents can receive push notifications as reminders to “pay” the allowances, and then kids log in to claim them. When they’re ready to cash out, they just let their parents know, and the adults can make one trip to the ATM.

  • Track IOUs for things that your child wants
  • Assign chores and reinforce positive behavior
  • Teach the value of money in an online interface

Download Piggy Bot from iTunes here

 

MoneyIsland

money island

MoneyIsland is an online game that allows kids to earn “money” while going on virtual adventures. This game is designed for kids 8-14 and teaches them the basic principles of smart money management. Once they join, kids may receive a real passport with colorful stickers they can use to “stamp” their progress through the MoneyIsland world. The stickers and fill-in-the-blanks reinforce the images, characters, and lessons learned in the game.

  • Teach and learn financial skills that help develop a lifetime of financial wellbeing
  • Win the game and earn real-world rewards
  • Parents and teachers can track kids’ success

Join now to play

 

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