|Objective||To open a Bankaroo account, get familiar with it's features and start getting your kids using Bankaroo.|
Bankaroo offers free online and mobile services to help you teach your kids how to monitor and manage their money. It is not an actual bank account but an application which your children and you can use to track income/expenses in a fun, interactive and mobile way.
1. Go to the Bankaroo site and start an account for yourself.
2. Then start child accounts for each of your children.
3. Take a couple of minutes to get acquainted with the features of Bankaroo, and download the mobile ap to your phone (this will make following Bankaroo activities easier for you).
4. Gather income and expense information for each of your children. Receipts from things they bought, decide how much to give for allowance (or think of ways your children can earn an income) and write down any other income your child has (tooth fairy money, holiday/birthday money, income from returning bottles . . . things like that).
5. Take a couple of minutes with each of your children (separately if you have more that one child) and start inputting the following numbers:
Mark this activity as complete when your child has a Bankaroo account set up and when he/she has a good understanding of income and expense.
Track your progress and earn badges!
This activity is included in the following:
|Age Range||4 5 6 7 8 9 10 11 12|
|Tags||Expenses Income Personal Finances Banking Allowance|