Letting your kids use financial software is quite beneficial as this will help them learn valuable skills such as wise use of money and budgeting. There is a wide range of financial software for kids in the market today giving you a variety of choices for your kids. Here is a look at five of the most popular in the market.
Kids Save Software
With Kids Save, your child will learn to monitor money through rewards incentives and helps them establish and track their goals. This program will help your child make deposits ad withdrawals using automated allowance and rewards system. The software will allow let them to see their statement of account.
The advantage of the program is that it automatically manages your child’s account once it has been set up. However, you as the Banker, can be granted access to the accounts, and configure interest, allowance, and/or matching funds. You also have the power to lock the savings and confirm all transactions.
By letting your kids see the changes and growth in their account; your child will realize the impact of different variables on their savings and understand the prospect of their account growing. Using the wizard Bubbles, your kid can learn to establish a personal financial goal and aim to reach that goal
Planet Orange is a fun and interactive financial software for teaching kids in the Grade 1 to 6 level skills such as earning, saving, spending, and investing. Using the concept of outer space, the program will take the kids important financial skills such as valuing money, budget setting, building a future savings goal.
Planet Orange utilizes four continents representing different financial aspects. In a place called Pulpy Pete’s General Store, your child will learn the skill of spending their money wisely. The game will train kids to buy only what is essential compared to buying everything they want within the allocated budget. After each area, your kids will take a quiz where they will receive Space Badges and complete their mission.
Penguin Cold Cash
Another interactive game that will teach the value of money, Penguin Cold Cash will have your kids surf through icebergs as a penguin. The aim of the game is to identify coins and bills, score over a hockey goalie each time they get a change, catch a fish while counting their money.
In Penguin Cold Cash, your kids will go through several skill levels and six interactive events. They will be using realistic money amounting one penny to one hundred dollars. Kids will also learn how to compare various dollar amounts while on a treadmill, determine money equivalents while performing belly sledding, and spend the smallest amount of coins and bills possible while whale tubing. Another game will have kids guessing the opposite side of the 50 State Quarters.
My Budget Planner
My Budget Planner is financial software for kids that will teach them wise money management by teaching them how to note every dollar and cent they receive using the software. With the program, kids will also learn how to set a simple budget and make a bank transaction.
Money management skill is learned when they have determined their total expenses as well as the amount left to spend. A valuable trait they will learn from using My Budget Planner is learning to give to the needy or charitable institutions.
Your kids will surely become enticed with the colorful buttons representing the different months of the year. They will learn about the description of money by looking at the pictures. Kids will receive a monthly statement. At the end of it all, your child will acquire budgeting skills.
Family Mint Software
Designed by the National Financial Educators’ Council (NFEC), the Family Mint Software is designed to provide kids with a fun and interactive way to teaching them money management skills. The award-winning program is set to train kids and even teenagers with valuable skills in personal finance.
With the Family Mint finance education software, parents will also learn important skills so they can help their children handle their money well. Using online money, the child will gain a positive approach to handling their finances while providing parents a guide to helping their kids achieve their goal despite their minimal effort.
The aim of the software is to help kids become responsible adults as far as making the right financial decision is concerned. It will give them the necessary learning skills to enable your child have a worthwhile experience while gaining the necessary skills to keep them from committing serious mistakes that may dampen their future.
At their very young age, kids already have the opportunity to spend money. They are already given an ATM card. If not taught properly, these kids could end up bankrupt before they even reach college. These five finance education software can provide kids with the necessary skills they need for proper money management.
And, when you are a kid no more, here’s an article about getting your first paycheck and starting your first investment.
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