♩ ♬ Money, Money, Money, Money…. Mon-ey! ♪♫
When did you start learning about the importance of money? For me, it was growing up in a single family home. I watched my Mom stretch a dollar further than physically possible. Today, I’m a pretty decent saver… and spender, but overall, hubster and I are on track to teaching some decent skills to Princess I want to Buy Everything.
Last summer was the first time Princess I love Hotdogs wanted to purchase one while we were at a baseball game. I had no cash on me, so like any good Mom would do, I told her to ask her Dad for money. Off to her father she ran and demanded “I need money Dad” This was a milestone, it’s the beginning of years to come when a girl will forever be asking her father for money. I actually wrote about it in her baby book.
While adults know money doesn’t grow on trees, to young kids this statement may very well be true. They don’t really understand what exactly money is. It’s our jobs (as if we don’t already have enough to do) to teach them about money, where it comes from, how to make enough to live and how to save some for the future AND rainy days.
The Royal Bank is doing their part to teach kids about money very early in the game, with a new app call Learning Money with Leo. I downloaded this app for Princess Spender in hopes to give her a bit of insight into cash, money, bling, bling. While we were downloading the app, Hubster came by and said, “Oh, Leo, I know him, I had a bank account with the Royal Bank when I was little, didn’t you?” His statement was made as if EVERY child had a bank account. …. I was 18 when I got my first bank account, yes… 18.
Princess I Love iPad Apps checked out the games and I was honestly surprised as to how well she did. The games were all doable for a 3 year old, except 1. She was unable to do the matching game. It required matching words to a picture, seeing as she can’t read yet, it was a no go. But, why focus on the things she can’t do, lets look at all the things she could do! She was able to do the maze, drop money into the piggy bank, use the spaceship to collect coins, find the differences, follow along with a story book and colour. And, here’s the clever part,,, and where kids really learn about making and spending money. Each time she finished a game, she received a coin, each coin she received was cashed in to buy a sticker. Once the money was gone, no more stickers. To get more stickers, she needed to get more money, to get more money, she needed to complete a challenge. It’s kind of like life.
You can never start teaching your kids about money too early, these skills are ones that will only help them when they are older. You can get some tips from RBC here.
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**Disclosure – I am participating in the RBC Learning Money With Leo program by Mom Central Canada on behalf of RBC Royal Bank. I received compensation as a thank you for participating and for sharing my honest opinion. The opinions on this blog are my own.