If you are stressed out about debt and trying to stick to a tight budget, you may not want to let your children in on your money problems. While you do not have to worry them with every detail about your financial issues, it is important to let them learn the basics of money management so they can gain a better understanding as to why many families need to make every penny count right now.
From pre-schoolers to teens, there are many kid-friendly money management tools on the web that make learning about budgets, saving money, making smart shopping choices and balancing a piggy bank account fun. Additionally, there are several free iPhone and Android apps that you can share with your children.
Try the “Road Trip to Saving” and “Ed’s Bank” games at the bottom of this article.
PracticalMoneySkills.com: This site is full of educational games that teach children of all ages important money skills.
- Peter Pig’s Money Counter (ages 4–7) helps your child practice sorting and counting coins.
- Money Metropolis (ages 7–12) helps children make life decisions that will affect whether their virtual bank account shrinks or grows.
- Financial Football (teens) is a great way to combine sports and money-management skills. This interactive game has teams that compete by answering financial questions to earn yardage and score touchdowns.
Savings Quest: This is a site for teens and it’s a great way to teach your child how to save for something they really want. They will have to budget their spending money and make a savings goal.
The Mint: Activities, games, quizzes and tests for kids and teens, this site always has great money tips for parents.
DoughMain.com: Money basics and savings strategies for children ages 5 to 12.
- TheFunVault.com (ages 5-9) has games and activities that teach the basics like coin recognition. There’s also a chore tracker and an allowance rewards tool.
- SandDollarCity.com (ages 8-12) lets children manage a shop in an underwater village. In order to keep the store in business, they learn how to buy inventory, make store upgrades and handle their expenses.
iPhone, iPad and Android Apps