The earlier you start to learn a skill, the better you will be at it in the long run. This has been said time and time again, and while the ever-popular idea of the 10,000-hour rule has mostly been disproven, the idea that time and practice lead to excellence is still true. This applies to most everything, especially finance. That’s why SouthEast Bank offers a series of financial tools to teach children how to manage money in a fun and engaging way, all packaged into one convenient app, Banker Jr.
Play the Games
Banker Jr. makes learning fun by turning money management into a game. The app includes several finance-focused games, which primarily take place in a mini-village that children can manage.
The in-app games give kids an opportunity to earn pretend digital currency that they can use to improve their village or dress up their characters. “Candy Factory” is an easy and fun way to teach kids how to recognize various coins. “Dig” has the player navigate through a budgeting maze where, in order to progress, they must make sure their players have enough money in their digital wallets. All the games focus on financial literacy, an essential part of early education.
Learn to Budget
In addition to games, the app offers an easy, fun way to chart spending. While your junior saver may not have his or her own bank account, the Banker Jr. app provides a place for them to list what they have spent their digital “money” on, whether it be toys, games, food, or anything else. They’ll enjoy seeing the money that they have made and marking where it came from. Was the $25 dollars from a birthday? Note it in the app. Five dollars from chores? Same story. It functions like your favorite budgeting apps but with a kid-friendly spin. It’s important to note that kids can’t move or spend actual money through the Banker Jr. app.
Watch the Lessons
As well as budgeting tools and games, the app includes several short, kid-friendly lessons and quizzes which cover financial topics that are important to learn early. The topics range from the importance of setting goals to the difference between “needing” and “wanting”. These foundational lessons are a fantastic way to establish the building blocks of financial knowledge.
Set Goals and Do the Chores
The Banker Jr. app provides easy ways to set goals and assign chores. Children can set savings goals within the app, and they are displayed as a pig sitting on a scale. As the junior saver gets closer to reaching their goal, the pig grows, leading to a satisfying conclusion with a big pig and a big bank. The app also features a chore system, which enables you to set trackable tasks for your junior saver. No more forgetting about picking up toys or cleaning their room. It’s all in the app!
Learning basic money management skills is incredibly important, and the Banker Jr. app provides a fun way to do that. You can learn more about the app and download it for free here.
Note: Links to other websites or references to services or applications are provided as a convenience only. A link does not imply SouthEast Bank’s sponsorship or approval of any other site, service or application. SouthEast Bank does not control the content of these sites, services or applications.