Now, these lessons increasingly can be found on smartphones and mobile money apps designed specifically for children. The average age for kids to get their first smartphone is about 10, according to research firm Influence Central, so money apps connect with kids in their comfort zone. Moneythink develops money apps to use as teaching tools, having found they can be more effective than dry lectures or drier textbooks. There are a few wrinkles in their approaches, but most money apps for kids act like virtual banks, offering lessons on how to budget and sock away money for spending goals. Designed for kids ages 5 to 14, the free app features tools for learning how to budget, save, set goals and do basic accounting.

Source: Huffington Post January 20, 2017 01:05 UTC