Teaching children about basic finances is a challenge. After all, we don't always know how to handle money properly, let alone a child! But it's important to teach them about finances from an early age, because this will help children have a healthy financial life when they grow up.

But how do you teach basic finances to children?

Well, kids are great at learning about things through observation. That’s why using games, stories, and hands-on activities can help them understand. One way to do this is by getting kids involved in some of the small household decisions about money.

You can also count on the help of apps. There are several platforms in this area that have been developed with themes and activities that will delight little ones.

And you won't need to look for it, as we've put together a complete list for you with the five best apps for teaching basic finances to children.

Piggy Bank – Money Tracker

Image: Google Play

The Piggy Bank app is a great way to teach kids about money management in a fun way. In the app, kids can create a virtual piggy bank and manage their savings. 

Additionally, the platform offers a variety of activities and games to help children learn basic financial concepts such as saving, spending, and donating. This will help them learn how to use their allowance better. 

To make your child feel even more motivated, they can choose the design of their virtual piggy bank. This way, they can see their piggy bank in style and keep track of their spending in a fun way, knowing whether their savings are growing.

Available at App Store and in Google Play.

The Lemonade Stand

Image: Google Play

The Lemonade Stand is a fun game that teaches kids about the value of hard work and entrepreneurship. Through this app, kids will learn basic finances for beginners by managing a lemonade stand.

In the game, children need to manage a lemonade stand to earn money. Therefore, they need to choose the location of the stand, the price of the lemonade, the ingredients and keep the counter clean.

With The Lemonade Stand, your child will also be able to manage their income and expenses, and make financial decisions to avoid losses. But don’t try to cheat, okay? Let your child make the decisions about what to do to make their stand a success.

Available at App Store and in Google Play.

Read more: Need to receive money on your cell phone? Use these 5 apps!

The Money Tree

Image: Google Play

Among educational games for children, The Money Tree stands out as an excellent option focused on teaching savings. In it, children need to plant and care for a tree to earn money.

With this platform, children will learn from an early age that it is not easy to earn money. This is because they will need to water, fertilize and protect the tree from pests and diseases. There will be many challenges to face before the little ones start to see money coming into their pockets.

When they start making money, they need to manage their income and expenses. After all, they will have to invest in new fertilizers and other care for other trees so that they bear fruit and they make more money.

Available at App Store and in Google Play.

NatWest Rooster Money

Image: Google Play

If you are looking for an allowance manager for your child who is saving money, NatWest Rooster Money can help you a lot with this task. It has a piggy bank where the child can save and see a reward chart for each amount saved.  

Another really cool thing about this app is that it provides a credit card for children, of course, in the prepaid model. This way, they learn in practice how to use money responsibly in their daily lives. 

With NatWest Rooster Money, you can take your child from their first steps in understanding the value of money to their first bank account. You can even set parental controls in the app, adding limits to your child’s financial transactions. 

Available at App Store and in Google Play.

AdVenture Capitalist

Image: Google Play

The last app on our list is AdVenture Capitalist. It’s a fun game that doesn’t just focus on personal finances, but also introduces your child to the world of investing for beginners and the business world.

On this platform, your child will start by creating a lemonade stand and, as he grows the business through wise decisions, he will be able to hire employees and become the CEO of a multinational company.

By being able to use virtual money in the app, the little one will also learn to invest better in personalized clothes and accessories, without this affecting their finances and their business budget.

Available at App Store and in Google Play.

The child in control of money

Although teaching basic finances to children is not an easy task, the apps we mentioned can help you and take a big weight off your shoulders. 

We know there are many things to deal with when you are educating a human being. Therefore, whenever possible, use technology to your advantage.