It is very important that the kids start learning about money since an early age. You do not have to teach it that everything is about money but only that he or she should be aware of the actions they do with money. That means that you should teach them how to save and spend rationally, where to invest and how to achieve their personal goals with the help of money. Unfortunately, those are not things that we can do on our own anymore. Small weekly allowances and piggy banks in most cases are not enough anymore. This means that children need to understand electronic banking, as well as the things such as compound interest, but also the importance of being debt-free. Nevertheless, there are great, helpful websites to help you in your process of teaching kids about money managements and they are also exciting and fun.
➯ Planet Orange
Planet Orange is fun, interactive website which is sponsored by ING Direct. It teaches kids the basics of earning, spending, saving, and investing money. In the beginning, it is necessary to create an astronaut who has a mission which ultimately revolves around money. After that, kids can design their own spaceship and begin their mission. All you need to do is sign up for free, and the mission can start. This can be a great example what role does money have when it comes in pursuit of our dreams.
➯ Zefty Virtual Bank Account
It is an online virtual bank account for kids which directly helps demonstrate everything that you as parents were trying to explain. Kids can easily learn how the world of banking operates. The game begins with a virtual deposit, which represents an allowance. Kids are able to use that money for making different banking transactions. Zefty Virtual Bank Account also features virtual automatic deposits and allows kids the possibility even to print out their own checks. The website demonstrates how the real-world works and allows children an insight into money managing experience in the virtual environment.
➯ Practical Money Skills
If you believe that your child can learn more quickly about the financial world through the games than Practical Money Skills is the right website for you. It can help you teach your children about saving money and its values. For instance, there is a Road Trip game which needs gas and insurance paid in order to keep the car running. However, there is a catch that also teaches them that affording gas and insurance sometimes can mean they need to sacrifice trips to the mall. The website also offers football and soccer financial games and also a game called Ed’s Bank, which teaches young kids how to save money.
➯ Rich Kid Smart Kid
Rich Kid Smart Kid is a website with free, interactive and animated games developed to teach kids about financial terms including the debt, saving money and also how to make a profit in business. The website features characters Reno and Toki, who take your kids on different adventures which help them learn the lessons along the way. Each game has four levels, and it is designed for of different age. This site also includes a Grown Up section where parents and teachers can find certain tips and lesson plans.
➯ H.I.P. Pocket Change
Another great option is the H.I.P. Pocket Change. It is the website which allows your children to see and learn about money through the history journey. It offers a great number of cartoons with the financial themes. The“Toons” section takes the kids to an interactive presentation where they can see the history of money, how it is made and what does it look like in other countries around the world. Learning process on H.I.P. Pocket Change is free, and it also provides numerous games for kids, as well as collector’s club where kids can collect coins. It is excellent website since it focuses rather on the physical money instead of the banking system. Furthermore, it also teaches kids about the historical and cultural perspective of money. Besides, it can also introduce them and help them start a new hobby such as collecting coins.