Talking money with your kids isn’t easy, but as this father of three knows, it is necessary. One way to make the conversations and teaching moments a bit smoother? Ditch the old school ways and get techy. Kids love their phones and apps, so get on board. It’ll be much easier to get them interested in financial matters if you meet them in their world. Here are some apps that will help your kids learn about money.
Opens a new windowBusyKid. BusyKid is an app for kids 5-to-15 years old and their parents. The app works by tracking household chores and allowance. First talk with your kid about their chores and allowance, then plug the data into the app. BusyKid will track the chores and once they are met, it will pull the allowance from your account and deposit into the kids’ account. Your kid can even buy small shares of stocks of BusyKid.
Opens a new windowGoHenry. GoHenry is an app for kids ages 6 to 18 and their parents. As Opens a new windowCNNMoney reports, children work on their tasks or chores and are then paid from their parents’ account. Kids can also set savings goals and have some money deposited on a debit card. Parents can cap what can be spent and receive notifications when their kids are using the cards.
Opens a new windowPiggyBot. PiggyBot is for kids ages six to 10. Like the other apps, it allows kids to track chores and allowance. PiggyBot also lets kids post photos of the items they’re saving for and the items they’ve used their savings to purchase. This feature helps reinforce the power of saving.
