Apps for Making Your Kids Money Smart

Learn! Play! Save! Let the screen addiction teach your kids important lessons, and this, without their notice.

How many of you have had your eyes pulled out by the neighborhood witch for being glued to the television the whole day? How many developed monstrous eyes like that of Annabelle for having their heads dug into bulky desktops for solving complex algorithms?

Umpteen bizarre stories and innumerable confused expressions, 90s kids have explored and lived fiction far more than the current brigade. However, all the weirdness boiled to one important notice ‘Screen Addiction is Hazardous’. My attempts to continue the legacy, with an extra dose of horror, however, fell flat with my kid.

Televisions and desktops back then were the only screen addictions one could think of. Cut to 2020 and the scope has increased manifold, with kids being more digital-savvy than any 90’s kid could ever imagine. According to a recent report, kids under nine spend an approx. 48 minutes on mobile screens and more than two hours on other screens, each day.

Smartphones, iPads, Xboxes, tech has overpowered practically every aspect of our lives, children leading the bandwagon. While we can’t curb the addiction, I believe we can use it in their favor. The digital world is splurged with options and here we touch upon just one vertical, which perhaps is a must for kids.

Smart money management is a skill that kids must inherit/learn at a young age. Inculcate money habits in them and this even without making them sit down with books. Here are five online apps that can help your kids learn quick money-management skills without them parting ways with their devices.

  1. Save! The Game

Being able to differentiate between needs and wants is an important money management skill. This app helps kids identify their needs and separate them from their wants, smartly organizing their spend. Set up like a game, the application takes the young ones through a 3D fantasy world, collecting virtual money and avoiding impulse buys along the way. The learnings help them make smart purchase decisions in the real world as well.

2. My Piggy Bank Tracker

With a simple and fun twist, this app helps kids keep track of their piggybank accounts, carefully calculating how much more is needed to raise the money for their desired financial goal. Set a goal for them and track their financial progress. Each time they save or spend from their piggy bank, they can record it using this app. They can also check their progress and challenge themselves to meet the set targets.

3. Rooster Money

This app is four things in one: a bank, allowance manager, savings tracker& chore chart that helps kids learn valuable management skills. It’s a family organizer that’s simple for parents & fun for kids. Kids can take control of their pocket money, adding money to their personal savings account, check statements and create goals to save for their wish list. The app enables them to customize their dashboard and even upload their photos.

4. Slonkit

The app comes with a card powered by Visa and DCB Bank and works on a pre-paid basis. The weekly/monthly amount slated for pocket money starts from as low as Rs. 200 and can be transferred from the parent’s account. It enables parents to guide their kids in their money habits, setting budgets and transaction limits and helping them evaluate their expenditures.

5. Calculator

Breaking your head over your kid’s poor attempts in cracking Mathematics, here’s the digital way. Hidden yet prominent in all smartphones, calculators can help your kid enhance his/her battle with complex counts, teaching basic money management skills for life. Guide them on using the device for complex calculations besides laying downticks to increase their money counting. See them calculate the exact change to be collected at the grocery store or keep track of their pocket money.

Install any or all of the above apps to help your kids explore the benefits of screen addiction. Guide them to learning smart money management skills in a simple and fun way.

Don’t forget to tell me if the above was useful for your digital-savvy children.

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