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In today’s modern world of technology, it has never been easier to teach children about the value of saving money. With so many programs and applications readily available, why not find one that your child loves and start the learning process today!
The ‘Kids Money’ app is a virtual pocket money calculator for kids. One of the best ways to teach children about the value of saving money is to have them set a goal for themselves. Setting a goal, such as purchasing a new toy that they want or having a day at the zoo will help them to see the value of saving their money. Children are able to enter their weekly pocket money amount, plus any extra money they may have received as a gift, and determine what they can afford. Sometimes the best way to teach is by doing and your kids will love this method.
Money for Kids
Before children can learn about savings, they must first learn about money. Understanding the various dollar amounts of notes and coins will help them to better grasp the concept of savings. ‘Money for Kids’ incorporates a virtual piggy bank, with fun games that help kids to learn the difference between a five dollar note and a one hundred dollar note. Coins are also discussed in the learning process, while a shopping simulator gives your kids the chance to put their learning into action.
Depending upon the age of your children and their involvement in money matters thus far, board games like monopoly can help them to learn about savings in a fun environment. Playing a game will take the nagging out of teaching and allow you have open discussions as a family. The ‘Monopoly Hotels’ app teaches your kids the value of saving, through purchasing and selling properties.
Achieve it With Sesame Street
As a parent, you’re likely to understand that sometimes kids just learn better when the information is coming from their favourite television characters. The ‘Achieve it With Sesame Street’ app incorporates fun learning activities with Elmo into everyday scenarios. Whatever your child learns can be recreated in their everyday world, helping them to learn the financial basics, without being overwhelmed.
Embrace technology and transform your phone into a cash register, in the blink of an eye! Most children enjoy simulating shopping experiences, as they see mum and dad doing this most other days. If you’re child has already learnt the basics of maths and money, enhance their learning experience by providing an even further in-depth look into the importance of savings.
If you are struggling financially, it is important to seek help as soon as possible. Setting a good example for your children is the best way to pave the path for their successful financial future. Depending upon your current financial status, budgeting assistance or debt consolidation may be just what you need to regain control of your finances.