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Useful Online Tools to Teach Young Kids About Money

Consumer Watch

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Brandy White says she's always been open with her kids about money, but was surprised how a new website has helped her kids learn the importance of saving. But don't take her word for it...

"I don't just buy things right away, I wait till I have a little bit more than what I had before," said 6-year-old Ian White.

"I decided to every time I bought something I had to save one dollar more so that I would make money," says 9-year-old Emma White.

Emma and Ian say they're trying to follow the example of the brown bunny at MoneyBunny.com who saves while the other rabbits spend.

Brandy says the site has even taught her a thing or 2.

"The big thing I grabbed onto the site, as far as a teacher goes is that it has to be something really regular with the allowance so that they can plan long-term."

Financial advisors say teaching kids about money matters and saving at an early age is one of the best investments you can make in their future.

"Start to lay the groundwork, the patterns the habits at early ages, and later on in life they are going to have credits on society versus debits on society," said Jason Freeman with J.Freeman & Associates.

He encourages parents to seek out tools like money bunny as early age 2 or 3.

Ian is now proudly keeping track of how much he's saved. And Emma says she has plans to save up for a car, seven years before she can even drive.

MoneyBunny is geared for kids ages 4 to 7. But these other websites are helpful for older kids:

 

Http://www.ustreas.gov/kids

http://www.orangekids.com/

 

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