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5 great apps to teach your kids about money! Great for you too!

Helps to educate kids financially.  It provides a debit card for kids that parents can manage from their smartphones.  It is a way that parents can manage kids’ allowances and how much they can spend. It is not a credit card, but a debit card which is funded by parents to encourage healthy spending habits.

Bankaroo (Creating spending habits)

This app is a virtual bank for schools and students.  It allows teachers and families to educate kids concerning money and save toward financial goals.  Also, it will enable individuals to track expenses and make crucial decisions. Kids can set savings goals and learn how to save up for something in particular that they desire. (Learning about the stock market)

Although this is not an app per se, it is a great learning tool to encourage investment in the stock market.  It allows parents to purchase one share of stock at its value in a company and gift to their children. The stocks shipped framed, and there are a handful of stocks you can choose.

Robinhood (Investing for free)

Robinhood is an app that lets you buy and sell stocks completely free. Although users can not buy them as fractional shares, they can purchase them at market price.  The app provides essential research tools to learn about investing. Users can buy most U.S. shares and ETFs.

Digit (saving more)

Digit helps you to save more money.  Every few days it checks your account and determines what amount it can safely send to your savings account.  Digit has a “no-overdraft fee” policy – so you don’t have to worry about unexpected charges. If you save as little as $10 twice per week, you can have more than $1,000 save within a year!

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