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Financial Literacy for our Children – How Can We Help Them to Understand Money? Top Money Apps for ChildrenMoney and money management can be something of an abstract concept and we need to be thinking of how to help our children to understand them. By understanding concepts such as financial goals, saving and living within a budget, children can learn to make good decisions while young and then continue to make them in the future which will certainly can’t hurt.If you don’t know where to start, guess what? There’s an App for That!!!Yes, there are apps to help parents get started in this important training – these apps actually help children to practice dealing with financial dilemmas in real time. The strength of learning through an app is that it has the ability to guide the students’ financial choices while they are making them and this has been proven to lead to the establishment of lasting habits rather simple temporary knowledge. Whether you want to teach children how to save money or show them how to better manage the money they have, you can turn to a handful of money apps that make the whole process into a fun game.Here are some considered to be in the top selection of fun money apps for children. Where appropriate we have indicated the ideal age range in brackets:1. PiggyBot (6-8)Children who are used to saving money in a piggybank will enjoy the digitized experience with this app. PiggyBot helps children see exactly how much they have in their savings account and also keeps track of their allowances. They set up a virtual account with a PIN using a smartphone app and parents can send their children an allowance or gift money directly through the app. Children can also set savings goals and take pictures of things they want to stay motivated.3. Renegade Buggies (6-11)This fun, fast-paced shopping game designed for ages 6 to 11 is a race to see who can save the most money within the time limit. Children earn ‘buggie bucks’ to apply toward savings and investment decisions. This one’s so fun, you might find yourself getting sucked into it right along with your child.? The app is free for both iOS and Android devices.3. FamZooAnother app the whole family can get addicted to, FamZoo makes it easy to keep track of allowances, chores and other money-related activities. Parents serve as bankers through this app and can send money to their children directly. One of the unique features of this app is that everyone in the family is connected so it's easy to move money between family members instantly. The app can be useful for teaching children some very basic money management and budgeting skills, and puts them in the money saving mindset.4. Savings Spree (7+)If your children have an entrepreneurial spirit or are eager to save for big-ticket items they want, get them connected to Savings Spree to learn some smart money lessons. The app is designed for children ages 7 and up and is set up like a game in which children can see how even small costs add up over the year; it also illustrates the importance of having a rainy day fund. The game also tests your children' financial knowledge at each level.5. Allowance & Chores BotChildren who are old enough to earn an allowance for completing chores will have fun with this app, which lets them keep track of all the chores they need to complete to earn different rewards. Allowance & Chores Bot is set up so that the family can manage all chores in one place and track who has completed their chores and who has earned their allowance. The app can be useful for keeping children motivated to do their chores, and parents can add rewards and punishments along the way. Children can also keep track of their savings accounts and how much they are spending.6. Bankaroo (5 – 13)If your children are old enough to open up their own bank account – or can't wait to get started – teach them basic money tracking and checkbook-balancing skills with Bankaroo. The app works like a virtual bank where children can enter allowances received, set savings goals and report how much they have spent. Parents can also send gifts directly through the app.7. Kids Money (5+)If you think your children will fare well with a very simple, straightforward savings calculator and money tracker tool, take Kids Money for a test drive. The app makes it easy for children to understand and visualize how to save and plan for bigger purchases, and how long it would realistically take for them to achieve their savings goals if they saved some or all of their allowance.8. Green$treets Unleash the Loot! (5-8)Among a digital abundance of free apps for children, Green$treets Unleash the Loot! manages to stand out. Recommended for children ages 5-8, the free app strives to teach children to be money savvy as well as ecological responsibility.Unleash the Loot! puts children in charge of rescuing animals in the cartoon town of Green$treets. Children must fund their animal-saving expeditions by planting gardens, building eco-friendly treehouses and tossing trash, all while keeping the globular purple mascot, Shmootz, at bay. Once the animals are safe, children must find ways to pay for their care, which helps teach budgeting, saving and spending skills. Unleash the Loot! is also one of few educational apps that encourage children to make room in their budget for donating to charity.Unleash the Loot! is Teachers With Apps (TWA) certified for bringing superior education to the mobile platform and displaying exemplary achievement in content, presentation, execution and overall user experience. ................
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