In the United States, there is a severe deficiency when it comes to the school system. Sure, this could mean a lot of things to different people, but we think everyone can agree that when it comes to money management and financial matters, U.S. schools are painfully lacking courses. Because of this, kids are thrown into the “real world” without so much as a clue on how to keep track of their personal finances, much less balance a checkbook or invest properly, and that is a huge problem. That being said, this is one situation where parents are going to have to take the reins and find a way to get kids interested in this massively important topic.
Seeing as kids are attached at the thumbs to smartphones and tablets these days, we are recommending a handful of apps that parents can introduce to their children. These apps will stand as a primer to money management and, at least on a basic level, get kids familiar with keeping track of their financial situation. With these apps in their pocket and parents getting involved in the teaching process, the kids who’re introduced to this important part of adulthood will have a huge advantage over those who aren’t.
With a gorgeous minimalist interface and packed with huge amounts of information, graphs, recommendations and more, Mint will show kids and young adults every single thing that has to do with their money. By being able to track the minutia of where their cash is going, kids can intuitively learn as they go on how to best manage their cash.
More Info: https://www.mint.com
Designed specifically for kids (7 and up), Savings Spree is a magnificent app that teach kids how to take control of their savings through a fun and engaging game. While this app will not actually track the user’s real finances, it provides a learning experience that’s unbeatable.
Great for setting budgets each month and tracking where money is going, Toshl Finance has the user log and add categories for his or her expenditures. Since it is more involved than other money tracking apps, kids will become more aware of where their money is going and (with some help from an adult) can learn some serious financial responsibility.
More Info: https://toshl.com