Teach your kids about money

We have developed a fantastic new tool which will helps teach kids the value of money… whilst having lots of fun.

These days, too many people do not learn about money and finance until it’s far too late. Australians now hold more debt than ever before, and this is at least in part due to the fact that many have had no financial education. Sadly, this has led to millions of cases in which individuals do not begin to get serious about their finances until they are in their 30’s or 40’s and already thousands of dollars in debt.

The solution is obvious: give kids a thorough financial education, starting as early as possible and continuing until they are out on their own.

Savings Squad helps you achieve that goal. The interactive tool allows children to drag items that they want to save for into a calculating pig. Once they know how much to save, they are guided through a simple budget process and given a number of suggestions on how they might increase their savings. Saving Squad helps children understand that costly goals require sacrifice: you have to work hard, cut costs and plan for the future.

By opening a savings account for your child, you will also teach them about the importance of compound interest. Compounding works by paying interest on interest. So, for example, one dollar invested at two percent interest for two years will earn two cents in the first year. The second year, the money will earn two percent of one dollar and two cents, and so on. That may not seem like a lot. But over time it all adds up.

Have fun with your kids and check out Savings Squad!