Less than 20 states require schools to offer some form of personal finance education. The educational system can teach advanced topics like trigonometry and physics, but the majority doesn’t teach real-world concepts like balancing a checkbook or creating and keeping a budget.

…And the fact that money is often a taboo subject at home only compounds the problem. We talk to our kids about sex and drugs, but not about how to make sound financial decisions.

It is imperative to teach our kids basic financial concepts and terms. Having a basic understanding of these terms helps our children not only to learn more about finance, but it helps them to avoid falling into the trap of being taken advantage of by unscrupulous professionals. 

So since April is Financial Literacy month, what better time to start then now?

There are several mobile apps available that can help school-aged children (ages 5-18) better understand fundamental financial concepts with the help of their parents and grandparents.  Although we do not endorse any SPECIFIC app, we do acknowledge that the service they offer is certainly beneficial.

To learn more : Doria Lavagnino, from centsai.com, offers a quick overview and review of the 4 best money apps for kids at  https://centsai.com/reviews/best-money-apps-for-kids/ .

As Fahad Hasan explains, having this basic financial foundation is essential in fostering true personal financial success.