Introducing an investing app to your kids can be a fun and simple way to teach them about finances.
Learning about finances and investing is important for everyone, but especially for families who are trying to build generational wealth for the first time. We have to remember that teaching our kids how to manage their money is just as important, if not more so, as attaining it.
Whether our kids grow up to work lower-paying jobs or they become millionaires, financial literacy is a crucial life skill. It can mean the difference between living paycheck to paycheck, going bankrupt, or having a good quality of life with a financial safety net.
Teaching finances can be an overwhelming task for even the most budget-oriented parents. Here are some kids’ investing apps that can help your kids start learning about finances and investing.
12 Kids’ Investing Apps
Greenlight
Savings Spree
Savings Spree, $5.99
Savings Spree is an award-winning app that teaches kids how to save money with fun games and approachable concepts like adding sprinkles to cupcakes. Intended for children ages 7 and up, the game gives children choices on how to spend their money, and based on their choices, they’ll see their savings grow or they’ll rack up big expenses.
Overall, the app shows children how they can spend, save, donate, or invest their money.
Acorns
Acorns Family, $5/month
Acorns is an investing app for kids that lets parents create custodial accounts for minors, enabling them to create a bank account and invest their money in stocks, ETFs, and even cryptocurrency.
One particularly neat feature of this investing app is that purchases can be rounded up to the next whole dollar and the difference is automatically invested. There are also various learning tools available on the app.
Fidelity Youth
Fidelity Youth, free
With a Fidelity Youth bank and investing account, your teen will have access to a plethora of tools designed to help them become financially literate. The app is designed to help teens learn how to save and invest their money and can be accessed through the Fidelity mobile app, where they’ll find a “financial curriculum” created to get kids off on the right foot when it comes to money.
The account has no minimums, no account fees, and no trading commissions, but parents do need to have a Fidelity account.
Stash
Stash, from $1/month
The Stash investing app is an all-in-one platform in which kids can pair a checking account and debit card with the ability to instantly invest funds. The app also features budgeting and saving tools and a wealth of financial information and tips for your kiddo to peruse. You can get started with as little as $5.
Stockpile
Stockpile, free
Stockpile is a free kids’ investing app that offers custodial accounts, so kids can start investing from a young age. There are no trading fees, account fees, or monthly minimum balances.
Kids can choose from thousands of stocks and ETFs, check to see how their stocks are doing as often as they want, and request trades.
RoosterMoney
NatWest RoosterMoney, free
NatWest RoosterMoney is a really neat kids’ investing app that serves as an allowance manager and savings tracker. Kids can designate their money to the categories of spend, save, give, and goals and earn extra cash by doing extra chores.
There’s even a chore chart on the app. Parents can create a reward chart and issue allowances via a prepaid debit card.
