Financial tools for kids!

April is Financial Literacy Month. It’s a great time to start talking to your children about money and helping them to develop basic money management skills.

The truth is, kids are never too young to start learning about earning, spending and saving. Today, there are many resources available such as: toys that teach, kids’ shows on TV that teach and teaching tools online. Parents can even download financial education mobile Apps. Here are just a few, to get you started:

PBS Kids Lab
The Lab features a variety of onscreen and mobile games to entertain and educate early learners. Try Fetch Fone’s Snack Attack to teach kids ages 6 to 8 years old the value of money and coins.

The Mint
The first step to saving money is earning money to save! Youngsters can discover seven ways to earn money and then, after being bitten by the entrepreneurial bug, they may be ready to take the Be Your Own Boss Challenge!

Mad Money
Good for young readers, the PBS Kids Mad Money game is a great way to get youngsters thinking about saving for those cool things they want, and how to manage their money until they reach the magic dollar amount it will take.

When it comes to teaching youngsters about money, it doesn’t have to be all digital, all the time. After all, you know all about money, and you probably learned it in the days before laptops, smart phones and tablets. Kids can do it, too!

A hands-on money game!
If you’re like most people, you have a collection of assorted coins around the house. Turn that pile of spare change into a game. Younger children can sort the coins by denomination; older ones can count them out into dollar amounts and even roll the coins. Put some math into the mix, and give the youngsters a percentage as payment for the task.

The Next Step – Allowances
Games are a good learning tool, but real life experience is better. Real money management comes with an allowance, one of the most effective ways youngsters learn about earning, saving and sharing money.

Wondering at what age an allowance its is appropriate, how much it should be, and how should it be earned? Here are some ideas.

At what age did your youngsters start receiving an allowance, how much was it, and what did they do to earn it?

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