Ah the money tree. You know, that fictional thing that children everywhere somehow think exists within families – money simply appears, money is spent (not enough on things for them, they say), and more money appears. I wish I lived in a world where that actually happened but we all know life isn’t like that.
Teaching my kids about money has been interesting. My son, at 7, understands that mom and dad work to “get money to buy things” but is blown away when we explain to him how much things like our mortgage, van payment, or other things actually cost.
My daughter, at 4, has no concept of money so when we had the opportunity to try out a FREE App from RBC Canada called Learning Money With Leo (specifically for children ages 3-6) I thought this would be a great opportunity to start teaching her about money.
The App itself took no time at all to install on our iPad (you of course can use it on the iPhone too) and after entering Nevaeh’s name (you can have more than one child use the App) we were on our way.
There are 5 games on the App and all help children recognize coins of different denominations – though with the recent news that we’re eliminating pennies in Canada, perhaps the App will need an update soon?
Along with the games, there’s also a Read-Along Book and a Coloring Book. My kids love coloring apps on the iPad so this part of the Learning Money With Leo App was a hit for sure.
Nevaeh’s favorite of the 5 games is Gather The Coins where she can tilt the iPad itself to move a spaceship around to collect coins in space.
The Sort The Coins game is also really good for teaching children to differentiate between one coin and another.
Children are rewarded for their game play with coins and they can then use these coins to buy virtual stickers in the store for their virtual sticker book. Nevaeh was so excited when she realized this and promptly spend all the coins she had – no surprise there!
It was a great teaching moment for her though – she learned that she had to do “work” to gain the coins and then she had to be decisive on what to spend them on.
You can download the App for free right here.
I hope your little ones have as much fun as mine is as I’m typing this right now! Hopefully the money tree myth can disappear from your house too. If you happen to discover one exists, give me a call (I’d love to invest!)
In the spirit of learning about money, 1 of my Canadian readers is going to win a $50 RBC Visa Gift Card! Don’t worry, I won’t tell if you splurge with the gift card – it never hurts once in awhile.