5 Fun Apps that Teach Children Wealth Management Principles

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There are numerous apps that teach children how to manage money and investment portfolios. Here are five best apps I found that I believe are worthwhile for your children to play.

Green$treets: Unleash the Loot!

Green$treets: Unleash the Loot! is a game based in the city of Green$treets. Kids rescue animals, feed and play with the animals they rescue, and then give them back to their owners. Children can earn money by growing gardens or by catapulting items they find into their very own tree house. There is a monster in the game who tries to stop them from what they are doing, but kids can escape him with proper planning and strategy. Kids can buy decor for their tree house or attire for their animals. This game teaches children how to earn and spend money, escape pitfalls in the search for more money, and treat other living creatures with care.

SavingSpree

SavingSpree shows kids, ages seven and up, how saving money every day or long term affects their ability to buy things they want or need, such as a new bike or college education. They have a certain amount of money and are able to save, spend, donate, or invest the money. It also shows them how work can earn them money and how there are certain things out of their realm of control that costs money. So, it teaches children that saving extra money just in case is a smart thing to do. They get rewarded for each smart choice they make. Their skills are developed through a game show that is run by a money-saving pig character. They are tested on their financial knowledge and rewarded with skills when they answer the questions correctly.

Kids Money

Kids Money is like a budgeting tracker, such like Mint is for adults. It helps kids keep track of the money they earn/are given and helps them to see when they will have the money to purchase things they want in real life. It allows for them to input numbers and receive information and graphics about their money. It’s fun and useful to teach older children how to save and use money and change wisely.

Motion Math: Cupcake!

Motion Math: Cupcake! is a game that allows children to own their own cupcake business and evaluate the costs and rewards of doing so. They get to create cupcakes individually and see how much each topping and ingredient costs to make the cupcake. They get to set a price for the cupcake and then either sell them out of the shop or deliver them around town. Children get to accumulate points/money by selling the cupcakes. It’s a great game to teach children that creating and selling products costs money up front but rewards them in the end. It is a great way to teach them about basic business principles, as well.

Renegade Buggies

Renegade Buggies give you a character with a shopping cart and you have to race around the streets of the town to collect as much money, gifts, and prizes as possible. Once you earn enough rewards, you make purchases at the grocery store and can purchase racing gear for your “buggy.” This is a great way to teach children that money can be fun to earn, but it is important to save in order to get the things they need to move forward.

These apps are user-friendly and provide an experience for your children to learn the basics of wealth management. They are fun and highly interactive. Some of the games are better for younger children, such as Green$treets: Unleash the Loot!, while other games are better for older children, such as Kids Money. Introduce your children to these games, and they will have a blast learning to be financially responsible!

6 Free Budgeting-Made-Easy Apps That Connect to Your Bank Accounts

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Each of these budgeting apps bring a unique strategy to the table and allow you to accomplish different financial goals with their help. Some allow you to pay for a premium/professional tier service for more features, but they are free otherwise. Here is my review of each of these six powerful budgeting apps from Apple or Android.

Mint
Mint allows users to create budget categories and keep track of their spending. It connects with your bank accounts if you let it and allows you to see where you are spending your money, as well. You can re-categorize the what you spent, too. It also provides free access to your credit score. Mint comes from the people who made TurboTax and Quicken, and it puts high priority on securing your information.

Level Money
Level Money creates a digital version of looking into your wallet. It helps organize your income and expenses so that you can see what is left over for you to spend each day, week, and month. It’ll send you consistent reminders about your spending habits and tell you how much you have left in each category. This app helps you to figure out how to reduce debt and save for larger expenses.

Mvelopes
Mvelopes is a digital version of budgeting your money in envelopes. You can pay bills from this app, see information about where you spend money and ratings, and get updates in real-time. It helps you to know which envelopes you use more often and how much you spend from each of them. It helps you to know how much money you have left before spending too much.

Personal Capital
Personal Capital is a budgeting tool, but it helps you plan for larger, significant life events, such as college and retirement. It allows you to see your net worth, work on your investment portfolio, and strategize for large, future expenses. You can come up with a retirement plan or even meet with someone in person to work on your investment strategy.

Penny
Penny has a comical kick to it. It sends you gregarious text messages with graphs and charts about your spending habits. Penny is a “she” who tells you about your income and expenses, informs you when a bill needs to be paid, and forecasts for next month. You can even cancel some of your services through this app. Penny puts fun back into finances so that it is not as stressful, while also providing powerful, organized, and simple information about your spending habits.

LearnVest
LearnVest allows you to categorize expenses and make goals for yourself. It gives you a financial planner, who can be accessed via email any day of the week, a financial plan, and blogs and classes about how to manage your finances better. It also has a calculator on it to determine your net worth.

Whether you choose Mint or LearnVest, Penny or Personal Capital, Mvelopes or Level Money, or some combination of the six, you are sure to be well on your way to a successful, organized, secure, and safe financial future.