Teaching kids about money, where it comes from, how to make it grow and how to use it responsibly is one of those things that many of us mean to get around to doing, but don’t often seem to complete. In fact, money lessons should never really come to an end. As society, the economy and technology changes, it is important for us all to keep up, and pass on the skills, knowledge and advice to our children.
Fortunately, we don’t have to do this alone. There are a few really good websites out there that will help us teach our kids how to deal with money. In fact, they may also help us as adults to be better managers of our money. Through colorful graphics, fun games and age appropriate activities that really take money management to the next level (you won’t find overly simplistic lessons, but instruction that is spot on and easily accessible).
The best way to take full advantage of these websites is to sit down with your kids, as a family, and follow the guidelines as you have fun learning. Make sure to also incorporate real life opportunities to reinforce the lessons that your kids learn.
The Great Piggy Bank Adventure
If you have been to Disney World lately, you may have been able to experience the Great Piggy Bank Adventure as a live and active game, set up at Epcot. Family members can form teams and take their piggy bank around to different adventures as they save and invest for a chosen goal.
The website has plenty of mini games to play in addition to the main adventure. Start off by choosing your own character then make different choices and employ different investment strategies to affect your financial plans. Kids will learn about setting goals, saving and spending wisely, inflation, asset allocation and diversification.
Out of all of the kids money related web sites out there, this one gets the highest recommendation.
PBS Kids It’s My Life Money
The PBS Kids It’s My Life Money focuses on practical money issues specifically for kids and offers more articles than interactive features. For example, right now, there is a babysitting section, where kids can read about this one way to earn money. The Mad Money games takes kids through spending wisely in order to afford a wanted items, such as a DVD or video game system. Other topics and life lessons are mixed in with the money ones, so it might be a little too easy for kids to get distracted and wander on to different topics.
The Mint
The mint has a little something for everyone when it comes to money. There are parent updates and guides, a place for teachers to share ideas, and of course some fun money related games and activities for kids to explore. There is also a separate section for tweens with special challenges especially for this age group.
Explore all three of the websites together as a family and have some fun, all while improving your money smarts.