Do you want to get your kids ready for investment?
A saying goes thus, “make haste while the sun shine!” it is a very good thing to get your kids involved in financial management at an early stage. This will build their psychological thoughts to building wealth in the right way and expose them to diverse financial and wealth-building techniques.
As a parent one of the very good thing your kid will every be gratefull for and praise you is enlighnening them financially!
How sweet would it be for your child to be aware of the stock market at early stage and take part in the shares of the stock market?
To be honest with you, My parents never started a small mutual fund account for me when I was very younger. But I did myself when I was around eight or nine years old that account initially had just a couple thousand dollars in it.
Without much further ado, Below are the 10 best investment apps for kids;
10. PIGGYBANK Fantasy Stock Exchange
Ever heard of the piggybank fantasy stock exchange?
PIGGYBANK Fantasy Stock Exchange is a fab game of stocks and shares designed for kids aged between seven to 16 and supported in real time by The London Stock Exchange.
Children trade real stocks and shares using virtual Piggybank Cash in a fun environment, populated by themed “piggies” devised in the spirit of the universally recognized Piggybank!
Top traders win prizes, but perhaps, more importantly, FSE players have been recognised as investors with a knack for turning a few hundred pounds into thousands in a matter of months!
Piggybank Fantasy Stock Exchange is a great way for children to learn about the world of finance!
9. How The Market Works
How the Market Works is an online virtual stock exchange game that is great for older children and parents.
You receive a virtual $100,000 which you can use to learn how the markets work and practice trading. The site contains quotes, charts, Wall Street analyst ratings, company news, and financial statements, trading ideas, videos, glossaries, financial calculators, lesson plans, and more. It also includes access to an education center.
Users can create their own custom stock market contest and invite their classmates, friends, and family to a friendly competition.
8. Savings Spree
Savings Spree is a fun App with a serious lesson for children ages 7 and up (younger children can play too with a little help from mom and dad or an older sibling). The game teaches kids how the daily lifestyle choices that they make can add up to big savings or big expenses, depending on how they choose to spend (or not spend) their money.
Savings Spree shows kids that they can SAVE their money for short term goals (like a bike or an MP3 player), SPEND wisely by making more frugal decisions, DONATE to others or INVEST money so it will grow to meet future needs like a college education.
As a parent, iAllowance is the one very app you need to manage your child’s finances and teach him or her about saving and spending money. Whether you want to set up a weekly allowance or pay out a special reward, iAllowance handles everything for you with an eye-pleasing and easy-to-use interface.
iAllowance is an exceptional tool to handle your kid’s expenses and also teach them a few things about saving money!
Gimi combines a pocket money app and chores manager with financial education.
In other words, Parents can set a recurring allowance along with chores for their child to complete. Kids can suggest tasks to top-up their weekly allowance and send picture proof when they’ve finished them.
This is not only fun, but it boosts the cognitive capacity of children and makes them take up responsibilities faster!
5. Rooster Money
Talking about money with your kids is key to their learning!
Rooster money can help you teach your kids the importance of earning money with their chore manager.
The app lets you add pictures of the things your child is saving up for, which is a great incentive for diligent saving. Your child gets a simple statement showing how much money they’ve saved and how much they’ve spent. There’s also an optional prepaid Visa debit card, so your child can make real-life transactions online and in-store.
Otly is the Bank for kids run by parents!
It comes with two parts: the Otly! app for parents, which enables you to keep a record of your child’s allowance and track their spending; and Otly! Jr, which lets your child separate their pocket money into different saving pots.
Your child can see graphs of how their savings will grow and get a countdown until the next pocket money day. They can also send you a request if they want to spend some of their money.
With gohenry, kids aged 16 to 18 get to learn about money first hand, by using it.
gohenry is one of the best kids pocket money apps and is great for teaching your child about responsible spending and saving.
According to them, “Money is a fact of life. And – like all life skills – the younger you get to grips with it, the better you are at handling later. Which is where gohenry comes in.“
It comes with a parent account, which lets you top up your child’s allowance and set spending limits. Your child gets a prepaid Visa debit card, which they can use in shops, online and to withdraw cash.
You can set tasks for your child and, once completed, release pocket money to their card. Your child can also set savings targets. Aimed at children aged 6-18, you can add up to four users.
2. Toca Store
Toca Store is a game for young children that turns your phone or tablet into a shop.
The shopkeeper (your child) selects five items to sell and chooses the price for each item by pressing a number from one to five. The customer (you) then buys items by dragging the right number of coins from their wallet onto the cash register.
Once all the customer’s coins are spent, the app produces a receipt showing how the purchases all add up.
1. Money Maths – GBP
Once your child gets a bit older, Money Maths – GBP will help them get used to recognising, adding and subtracting different coins.
The app has three sections: maths arithmetic, for counting and subtracting coins; matching pairs, where your child matches sets of coins against their numeric values; and shopping, which involves making payments and calculating change.
The app has five levels of difficulty and you can set a stopwatch to time your child’s performance.
Teaching your children about money is an essential life lesson that will increase their chances of a financially secure future.
Fortunately, these handy money investment apps for kids can help you teach the importance of saving and investing in a language that your children will understand.
So, whether you have a preschooler or a teenager, here are our top 10 best investment apps for teaching kids money management skills.
Here’s a quick recap of the 10 best investment apps for kids:
- Money Maths – GBP
- Toca Store
- Rooster Money
- Saving Spree
- How The Market Works
- PIGGYBANK Fantasy Stock Exchange
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