Teaching kids about money is a very important topic in our home. We believe that when we help our children learn key money concepts, we help raise responsible adults. We help them avoid overspending and unnecessary debt in their future life.
We started teaching kids about money as early as 3 years old. The first step in their learning process is to get them a piggy bank. When my princess turned 3, we offered her a pink piggy bank. Each time she behaved well, we rewarded her with few coins. Now she is 4, and she already understands some basic money skills such as: she needs to give money to the cashier if she wants a candy. The more she has in her piggy bank, the more she can buy. However, we could not get her to recognize the coins. She called all the coins: $5 whether it was a quarter or a $20 bill. At first, it was funny. But my princess will turn 5 in few months; we thought it would be a good idea if she recognized the coins.
So, when I had the opportunity to review the Learning Money with Leo iPad app, I thought it would be the best opportunity to help her recognize the coins and learn new key money concepts.
Learning money with Leo iPad app: A free tool teaching kids about money
This free iPad app is developed by RBC Royal bank. It is a fun way to teach your kids about money. This app is designed for children ages 3 to 6 years old. My daughter, who is four, falls into that range. It is available in French and English. For more details, you can visit RBC.
The app has a feature where we can add the child’s name. We helped our daughter in this process as she does not know how to write it yet. Then we moved to the main screen where we discovered six amazing features that help teaching kids about money in a funny way.
We observed our princess during her play and helped her a little. Leo the Lion (the main character) gave her the appropriate instructions and cheered when she succeeded. All the instructions can be read on each game, which is a great exercise for 1st grade kids.
The app has the following features:
One coloring book featuring a piggy bank and other funny pictures. It was my princess’ first pick.
One sticker book and sticker store where the child can buy stickers from the store and decorate his or her own book.
One read along story book featuring 2 young children. I will let you discover this wonderful story with your little one. It will teach them the value of earning and saving money.
5 interactive games,
All of the interactive games have timers. At first, I thought it would be too challenging for my 4-year-old, but she managed to finish all the games on time. After each game, the child earns rewards coins . These rewards will enable them to buy stickers at the sticker store for their virtual sticker book. It teaches them the value of earning money and saving for future use.
- Sort the Coins game. The child has to drag each coin to the correct piggy bank before the timer runs out. To help the child in this process, each time she touches the coins, the appropriate piggy bank flashed. Leo helped her with encouraging instructions. It kept her going.
- Gather the coins in a planet by tilting the iPad.
- Solve the maze by helping the loonie finding its way through the maze. It’s a great way to teach.
- Match it: the child has to match money related words with the appropriate pictures. My 4 year old does not read yet. This game will be perfect for kindergarten or 1st grade students
- Spot the differences features two lion pictures.
After a few days of discovering and playing with this great app, I tested my daughter’s skills. I gave her few coins and asked her to sort them out. She was able to differentiate each coin and name them. No more $5.
This is a great app to teach your kid money concepts. They will learn how to count, save and earn money. Download it now. It’s free.
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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.
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28 thoughts on “Learning Money with Leo iPad app: A Great Tool Teaching kids about money”
Learning how to be responsible with their money should be taught early on.
Don’t want them to be scammed or hung up on having or not having money.
Financial responsibility is learned from the actions of Mum/Dad. We need to teach our children the value of money – LEARN AND EARN. This generation has adapted the I’M ENTITLED. That concept needs to be reexamined. The time and effort we instill in our kids about SAVING FOR A RAINY DAY will benefit the future generations.
Kids these days definitely need it. I don’t want to raise greedy, selfish, spoiled, in debt kids that move home at 30.
I feel it’s important to teach my daughter to be responsible with money so she won’t have to deal with the added stress of being in debt
It’s important to teach your kids about money because if they learn good habits now, they’ll be financially responsible in the future.
I think its important to teach kids about money so they grow up to be responsible adults that know how to safe money and ultimately not go into debt.
ksceviour at hotmail dot com
I think its important to teach kids about money because you need to get them ready for the world. Its good to teach them at a young age to be sure they know the life skills they need when they get their first job. Also teaching them to save and what it means to save is important.
So they grow up to be financially responsible adults.
they should know that its NOT ok to use credit cards to make ends meet. They should know that if you want to go on holiday, you pay for it with money, not with credit. They need to be realistic about debt and what it all entails. I see many people with things AND a huge debt load and that is NOT the way to live ones life, with stress and worry. I also see these same people post on their fb walls in january that they don’t know what they are going to do, because they overspent on Christmas…it is sad to see adults who are supposed to be responsible acting this way and I want to make sure my kids who are teens, not do these horrid mistakes
I want my kids to understand money so they can have an easier future. You have to work to make money, and save for things you want!
It is important to teach kids about money so when they grow up they will stop and think before buying. Also to learn the value of saving for something is much more rewarding than instant gratification and using up your balance on the credit cards
I don’t live forever to take care of them. They have to learn to work/save to earn/buy things. What to give & what to pass
so that they can carry good money strategies into adulthood
No one taught me and I had to learn the hard way. I did the best I know how with my children but I’d like my grandchildren to be taught early and the best way to avoid my mistakes.
So that they will be prepared for adulthood.
I think it’s important to teach kids about money as it lays the foundation for future responsible money management. Teaching kids the skills to save and budget now will carry them a long way in the future.
So they can live an easier life than I have led.
It’s very important to teach them to use money wisely because they will know how hard their parents earn money for them :-)
Beacause you deal with it on an everyday basis.
with times as hard as it is right now and not looking to get any better, the future kids need to understand money and how to be responiable with their spend.
Its important to teach kids the importance of money at a young age so they understand the responsibility that goes with it. It doesnt grow on trees and you have to understand how to handle it properly.
It is important for kids to learn the difference between wants and needs, and what is required to save for the things that we want. Instead of instant gratification, which is dangerous and unrealistic.
With more people in severe debt and / or claiming bankruptcy these days, it is important to give our kids a head start on how to handle, save and spend money. Making money is hard, spending it is easy. Kids need to know about budgets, spending and saving.
World’s a hard place and money does not grow on trees. Jobs area hard to come by and keep, bills must be paid. Every dime counts.
I want my kids to be responsible with their money and know that you have to work hard for it. I want them to know the value of working hard for something they want as well.
Lessons learned as children are often those that become ingrained in us and remembered as we grow. The value of money & responsibilty of dealing with finances is as important as teaching your little ones to wash their hands after they go to the washroom and cleaning up after themselves. You’re doing them a favour and ensuring them success later in life.