Find apps and tips that might help you instill clever ways in saving their allowances. Managing money is pivotal for their future.
Teaching them about allowances, giving them tasks, and or piggy banks are proven and true methods in managing money. But, in today's generation, parents already have access to apps and online services that can teach our kids and us about money and encourage good habits in saving them.
Read also: How to Save Money: Dealing With a Budget
Apps to teach kids to manage allowances
The "Kids Money" App
This is an app that helps kids save money. With this application, your kids are encouraged to set savings goals, and it may include buying a new doll or bike where-in your kids will indicate how much money they want to contribute. Then the app will show your kids the possible time they can get their goal.
Your kids will also develop patience in getting the things they want, that it takes time and proper planning in achieving their goals. This app is available for free on iPhone, iPad, and iPod touch.
The "FamZoo Family Finacial" App
It is an app that acts as a bank virtually for your family and kids. In this app, the bankers are parents, and the kids are the customers. Everyone in the family here is involved. That is why it will make your family more connected.
Aside from the fact that you teach kids to manage allowances, you can also track how they spend their money. The app is also available on iPhone.
The "RoosterMoney" App
The app lets the parents or the guardians set the allowances they wish for their kids to have. Apart from helping their kids learn to budget their money, kids can also earn by doing the chores or job parents give to them.
And once their kids are earning from their work, they can also help the family with the expenses by contributing from their savings.
The "Green$treets" App
Greenstreet is an app that is very useful for kids who love animals. Your kids can save animals in danger by creating a budget-based plan to take care of them. On this app, kids are more indulgent because of the emotional attachment apart from budget learning skills. Kids tend to play using this app.
The "PiggyBot" App
It is an app that is quite similar to their physical piggybank. What makes it different is that this is a virtual bank. It will help your kids create unique and safe PINs in this bank to post pictures and set goals. Parents can also help their kids achieve their goals by imparting money to the bank.
For parents out there! There are more apps available for your kids aside from these five favorite apps we got for you. If you want to teach your kids how to manage their allowances, the following apps can be the best help. Remember, your kids can learn financial management in a more fun and enjoyable activity.
