Cool Kid Apps that Inspire Savings and Entrepreneurship
By Dorothy Frank, ballooningnesteggs.com
As a Savvy Auntie, it may be difficult at times when you cannot afford to buy the newest gadget or toy that your little one has their eye on. However, inherent in this is a learning opportunity for your nieces and nephews. We wanted to find some fun game apps that will excite kids about money and savings goals, entrepreneurship, and social responsibility — and maybe even stir them to make a difference in the world.
After searching the app world and weeding out the best from the rest, we let our kids test the games for more hours than we probably should have allowed. Here are the ones that passed both the parents’ and kids’ play tests with flying colors. (Age ranges are our recommendations and would depend on your niece’s or nephew’s comfort level with reading and technology.)
1. Savings Spree - $5.99. (Ages 5+) This award-winning app is worth every penny and our team’s favorite. In this game, kids can discover: the difference between each type of saving and spending goal, how to earn money at a job, why it’s important to have a rainy day fund for unexpected expenses, how to avoid spending on impulse purchases, how to build wealthy habits by making good financial decisions, and that kids can be entrepreneurs. The player gets rewarded or penalized with “dollars” and it tracks his or her ongoing balance through each round. The goal is to build the biggest nest egg by the end of the game. It does this with cute graphics and fun activities. It even instills productivity in kids and demonstrates the “time is money” concept because the more cupcakes they frost in 60 seconds, the more they get paid!
2. Game of Life - $0.99. (Ages 5+) This is an updated app version of the old board game that I played (and loved) as a kid. The game helps kids understand the value of good financial decisions, budgeting, and savings. Although the costs of big-ticket items are lower in the game than those in reality, it gave the kids an idea of what college and a house cost and some of the enormous expenses that they can anticipate in life. If you’re game, you can try explaining how inflation will cause those life essentials to cost significantly more in 10 years.
3. Bee Farming - $1.99, free Lite version available. (Ages 10+) This game fosters entrepreneurship and skills like managing money and a business successfully. Basically the player starts a bee farming business with only three swarms of bees and $100 cash. The player has to gather the nectar to produce honey and sell it in the BEEDEX honey market. Then he or she goes to the Farmer’s Co-op to purchase bees and other supplies. There’s only 10 weeks to run the business, and if it earns more than $500,000, it makes the game’s farmer’s world records. As part of the game, the child allocates money and resources to afford supplies, and watches the market prices to know when to sell the honey for maximum profits. The graphics are beautiful, but it is important to read the instructions first because there’s a lot to track. This can be a complicated game for younger children, so I’d recommend it for kids aged 10 and up. But once you get the hang of it, it’s pretty fun.
4. Snoopy’s Street Fair – The app is free, but it costs money to purchase specific in-app features. (Ages 7+) This game inspires entrepreneurship and budgeting by helping Snoopy, Charlie Brown and the rest of the Peanuts gang build and organize a street fair to raise money for baseball uniforms. Depending on the level of the game and how much money your child has earned, he or she can purchase additional stalls, attractions and decorations. The player decides if something is worth investing in and he or she can even maximize profits. Kids can also participate in Snoopy’s mini-games to earn extra points and fulfill some of the requirements on the “To Do” list.
Photo: junpinzon
Published: January 14, 2014