No matter what, but you should give the awareness and education to your kids about Money learnings and spending’s.
So here are some simple ways you can approach to teach your kids about Money –
Use Mini Banks to Save –
Simply get those piggy banks or even a clear jar, where they can put in their money and see it getting saved and growing simultaneously. Tell them to keep a count of it, and also have a brief chat with them on “How the money level grows when you tend to save the money”. This will generate an urge in the kid to save and see the money level growing day by day.
Show and educate them that “Things Cost Money” –
It is but obvious that kids do not understand that things require money to buy. They probably believe in “Just demand and you get it”.
Show them actually, tell them to grab some amount from their piggy bank or jar, take them to the store and buy a toy or a chocolate with it and also let them hand over the money to the cashier themselves.
“Now let them observe the layer of amount coming down in their jars or piggy bank, just after buying a toy or a chocolate from store”
Trendy and Digital Ways:
Somehow now kids are more habitual of looking at the credit cards and debit cards with their parents, so it’s difficult for kids to guess what happens when we swipe the card. They might think now “Just swipe simply and get whatever you need”
To look forward in a broad perspective, now parents are moving to match themselves and their kids learning processes towards next steps over the traditional ways. And of course one should change themselves accordingly to match the new generations and new ways.
So now the new epoch came up with some money learning games which will educate the kids about Money and Spending. Also to increase the kids understanding towards counting coins, spending’s and billing.
So here are some good games available in Market on billing, counting, budgeting –
Money Match Me:
This game is based upon learning to identify and count coins. It’s a fun way for kids to test their knowledge on counting of coins.
Money Bags me:
This game is all about distinguishing different bills and counting money.
This game’s skill focus in on Adding and Subtracting Bills.
Buy it Right:
It’s a game based on budgeting and makes kids understand the prices and expenses.
It’s a classic game which makes a kid understand what’s it’s like to get a pay check every month and how to tackle financial obligations.
Game of Life:
Its skill focus is on how to manage money throughout your life. It’s a great simulation with a realistic touch provided in the game.
Monopoly is one of a game which can be played buy kids to adults. Interesting game with an understanding of investing, bartering, renting, billing and etc.
Coming to the Money learning apps, here are some of the few which are best for kids to play and learn –
It has earned Parents Choice Award, it provides learnings on spending, earning and long term, short term savings.
It is designed by National Centre for Family Learning (NCFL), it is to educate on how to save as much money as possible on grocery shopping, smart customer strategy and etc.
This app serves a virtual bank for kids, without being connected with actual bank account and teaches about money and its value in fine-drawn way.
It’s a virtual piggy bank to visualize and track kid’s allowances in different categories.