Apps help teach kids money management

Apps help teach kids money management

CAPE GIRARDEAU, MO (KFVS) - Is it ever too early to talk to your kids about balancing the budget?

There are now free apps for iPhone, iPad, and some Android devices that do just that.

Some like 'Save! The game' are geared for kids as young as 4-7 years old.

"With guidance these kinds of apps could help," said first grade teacher Whittney Carter at Franklin Elementary. "They definitely love using technology to learn."

Cape Girardeau Public Schools do not use apps in their curriculum but did help test out 'Save!' and also 'Kids Money' on a group if first graders.

"Obviously they enjoyed them but to get the gist of teaching budget someone like me or a parent needs to sit with them and guide the process. You should ask how much the coins are worth and things like that," said Carter.

'Kids Money' was a hit with the first graders but is actually for 8-9 year olds. It gives kids a goal of something they'd like to buy such as a basketball and shows how long they'd need to save to fit the item in their budget.

"I really liked that one," said first grader Lily Elders. "I'd buy a horse or a basketball for my uncles.

Other first grade students enjoyed both apps.

"I liked getting all the coins," said Israel Shoulder.

"If I had money I would save it!" said Kameron Bird. "Then you get more stuff!"

"We have lots of programs to teach kids to manage money for things like our school store for good behavior," said Carter. "Some kids save all year to get what they really want!"

Other apps for older kids include 'Financial Football' for kids around 10 and 'Mint' ages 16 and up.

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