Personal financial management is not an object that is taught at every school or college. This is something that will face almost all of us sooner or later. Our ability to handle personal finances is largely dependent on personal experience, as parents did not pay much attention to teaching children how to handle their pocket money. According to GoBankingRates, one third of Americans have no retirement savings. People are increasingly aware of how to handle their personal finances efficiently, taking into account the difficult economic times.
Parents are now more inclined to explain the rules of personal financial management to their children than ever before, to prepare adults. Unfortunately, many parents do not know these rules. What can we do to overcome this problem? The answer is very simple: IT solutions can be applied. We live at a time when each one has a mobile device and children are starting to use such devices very early. LittleThings.com claims that 90% of the 2 year olds use tablets and smartphones. Therefore, children are unlikely to feel uncomfortable when they learn to handle their money using technology.
What solutions can be used?
You have to deal. These are the treasures of personal financial management data. Its content is not limited to articles covering themes. Such sites may include games and quizzes that teach children financials, videos, and more. Treatment. Some of them specialize in a particular type of educational material (eg Financial Fungi represents a financial game library)
Consider the Practical Money Skill Website by Visa.
This Website is packed with educational materials for adults and children. Parents can choose materials depending on the child's preferences and needs. The articles are written in plain words, and the kids can easily understand them. Parents or children can read them.
Kids play games and play online games, and these games teach them how to handle finances. If children (especially teenagers) need extra training to gain savings and evaluate their financial decisions, they can also use calculators. For example, teenagers who want to start a year before the dormitory begins to travel abroad. They have a limited budget, so the planning of the travel budget plays a very important role. The Travel Budget Calculator shows them how much they spend on a trip.
What about comics? People of different ages, like them. This website offers a number of comics to visitors who introduce key financial management concepts to readers.
Other material on this site: videos, infographics, tutorial lessons (etc.).
What are other settings?
Think about downloading a mobile app on your device. Individual financial software and mobile application developers will do their utmost to deliver a killer product. Many good financial applications can be used for children.
Some of them:
1. Quest to Clean Up: Housework, Reward, Savings. The app can help parents to teach their children to save and earn money on the things they want. Kids will see how much effort they need to get an item they want to get. Parents can add tasks and tasks (paid / unpaid) with this app and reward the kids after completing the task
. Yuby. This application can be the first financial tool for children. We have a Chore List that reminds small users of what they are doing and how much money they get for each task. Yuby presents the current amount of money to the children and presents their financial activities. Kids can also see how much money they need to get the stuff from the Wish List.
3. Rush & # 39; n & # 39; n & # 39; Shine. This is an educational adventure game that teaches students of high school students to manage their personal finances. The app allows users to create avatars they like. Players learn to balance their needs, their wants, and different rewards. There are some quizzes and final summative reviews in this game. Teachers (or parents) can track children's development through an online dashboard
. Bankers. This app is a virtual bank that teaches children the value of money. Parents and children can use this app to track the money that children are saving or spending. It helps kids save their important goals. The app supports different languages and currencies. There is a paid (school) version as well.
5. Lunch Tracker. The app teaches kids how to manage their savings patterns by tracking lunch-related expenses. It saves you money. Users can see how much money they spend on meals, at home for meals or for packed lunches. Children can take the 30-day challenge to find out how much they save each month. It is very important because the rules of personal financial management acquired in childcare can be used in adult life too. IT solutions can be used to teach these rules. Parents can choose any kind of solution that children like, whether they are online games, puzzles, mobile apps, or something else.