This post may contain affiliate links. See our disclosure policy for details.
Are you looking for a program about financial literacy for kids and not sure where to begin? We tried MoneyTime, an online program geared toward kids 10-14 that teaches kids about financial management.
We received this program free of charge and were compensated for a fair and honest review.
I was excited to discover MoneyTime. I have been homeschooling on and off for several years, but this year is my first time homeschooling all three of my kids.
It’s a little daunting – I need to outsource!
As a homeschooling parent, it can be overwhelming to come up with imaginative curriculum ideas, especially when you are working across multiple grades – sometimes I feel like I need to be three places at once!
I am always looking for programs that encourage independence. I knew this one was a winner minutes after we signed in.
This was a sign-on-and-go program for my son. I didn’t need to explain or look over his shoulder. He took off flying and gave himself a job of pulling weeds and raking leaves in our neighborhood.
Really this is hilarious if you know my son. I can barely get him to wash a dish let alone rake the leaves. But hey, if he is motivated to make pretend money with his pretend job now, maaaaaybe I can persuade him to do some yard work come fall…
Taking Financial Literacy for Kids a Step Further
There are plenty of math programs that teach about money. It’s usually a component of the more extensive math programs kids learn each year. Early programs teach how to count money, and older kids learn about concepts such as saving, spending, and even check writing.
But most programs stop there. There is little focus on financial literacy skills. Some kids may get a nine-week course in high school, but this isn’t always the case.
Financial literacy is such an important life skill. Many kids make it into adulthood and know very little about how loans work, investing, managing their money, and more. This lack of knowledge often leads to poor choices that can affect them financially for a long time. Speaking from experience. Yikes.
Rewards that Make Cents
See what I did there?
MoneyTime teaches financial literacy to kids in a way they can understand. However, I my favorite part is that the program engages kids with a reward system that directly relates to learning the concepts.
In many kid’s games, the rewards are seemingly random bonuses. Accomplish this task = earn diamonds = buy a pet. Huh? I don’t know about your kids, but mine seems to be constantly side-tracked by rewards that have nothing to do with learning.
With MoneyTime, your child is rewarded for doing their job and successfully completing the modules with, you guessed it, more money. Their reward money is then spent or saved, helps them buy a house or nicer clothing, they can even choose to invest it to grow their newfound wealth.
What a brilliant way to engage children. The reward system is worked seamlessly into the game – encouraging them to learn more, earn more, spend more, save more, and do more things with their money.
What Makes MoneyTime Unique
Kids will learn a variety of skills and concepts as they progress through the program. Learning these skills early is a huge benefit for kids. I wish I had known some of this earlier!
The Job Application Process
Many kids make it all the way through college before learning how to apply for a job. MoneyTime walks kids through the process as they apply for a job within the game.
An added benefit is your child can put this skill into practice right away. He or she can apply for jobs around the neighborhood. It can also help teens who are applying for summer jobs or who are preparing to apply for internships.
Learn About Budgeting
Budgeting is a life skill that many of us wish we learned a little earlier, especially before doing it in the real world when the stakes are much higher.
In MoneyTime your child gets to decide what to save and what to spend. Kids learn the value of creating a budget and will need to consider when to save and how.
This type of early financial literacy may pay dividends in life as kids begin to deal with their own real money in their early teens.
Manage Bank Accounts and Learn How Interest Works
This program goes beyond the piggy bank. Your child will learn out the ins and outs of banking and make conscientious decisions about where to put their savings.
There’s really no better incentive for saving money than… making more money. I love that this program got my son to understand that saving actually pays – and over time it pays more than just pennies!
Learn About Renting & Buying Property, Mortgages and the Basics of Investing
These are all skills that most adults don’t know until they are actually going through the process! I wish I had this kind of background knowledge when we bought our first house.
Many young adults have little understanding of the pros and cons of renting or buying a home, and many of us wait until we are much older to begin thinking about investing our money.
While this program may guarantee your kids will grow up to be Rich Uncle Pennybags, they will get a general understanding of how money works and the rewards and consequences that come with making bigger decisions.
Ready to try MoneyTime?
Get 25% off any order using the coupon code HSCHOOL20 at checkout. This discount applies to both single and family subscriptions!
MoneyTime offers several flexible subscription options, including three subscription packages for 1, 2, or 3-5 children.
The company is happy to work with homeschoolers to assist where they can. You can contact firstname.lastname@example.org for subscriptions for more than 5 children.
Even better: MoneyTime offers a 60-day money-back guarantee. Try it completely risk-free! If you’re not happy with the program, they will return your money in full.
- Money Management for Teens & Tweens: Practical Life Skills
- 10 FUN Money Games for Kids!
- Teaching Money: 5 FUN Ways to Get Started!
Ashley helps parents who want to homeschool find the resources they need to successfully teach their children. Ashley is a former teacher, current homeschooler, published author, and designer behind Circle Time with Miss Fox printables as well as the found of this website, The Homeschool Resource Room.