bankaroo started as a family project to help children learn how to manage their savings. Danielle came up with the idea when she was 11 years old and helped with the design testing and marketing. Dad helped with the technology, and mom helped with the rest. To date we have thousands of members from more than 70 countries around the globe.
Danielle started bankaroo when she was 11 years old.
A Big sister, honor student, Karate expert and video games player/designer.
Loves video games (dah!), art and reading.
A husband, father and entrepreneur at heart. I founded several startup companies over the years. I currently own and run BrightAct – a successful boutique-consulting firm that focuses on product, UX and mobile applications design and development services. As well as intuito – a mobile prototyping and user research service.
bankaroo started as a family project in 2011. Today we have thousands of members from more than 54 countries around the globe. We rely on our members’ support to help us make the service better. Our members recently helped us to translate bankaroo to more than 10 languages.
bankaroo works on any device that’s connected to the Internet: your computer, laptop, tablet device and smart phone.
Other devices (as BlackBerry and MS phones) are supported with a mobile HTML5 application.
Our blog is full with information, ideas and tips on financial education for families and kids. We are always open to hear from you - please suggest topics and share our blogs with your network.
Retirement can be a pretty abstract financial topic for kids to tackle, especially since it’s so far into the future. Still, they need to know what it is and start planning for it early, especially since they’re likely seeing you putting money aside for it, too. These are the key points you should hit when trying to explain retirement to your kids. 1) What retirement means Retirement usually means that a person chooses to leave the workforce or a specific career on a permanent basis. Most people make this choice when they are older, so retirement has come to be associated with being elderly and, to some degree, being physically or mentally unable to continue performing professional tasks. In fact,… Read More →
Eventually, kids either want or have to start earning additional money outside of the home. In the United States, this is usually when they are somewhere between the ages of 15 and 18 years old. A number of strategies can prepare your child to enter the workforce and get their first job. Be firm about rules at home and enforce consistent, clear consequences. Although your child hopefully will be in a supportive environment in his first workplace, his boss still is going to expect him to follow specific protocols, meet deadlines and work collaboratively. Failure to adhere to guidelines or directions can mean reprimands, loss of a good reference or even being let go, so don’t shy away… Read More →
Before your child can perform any other money task, he has to be able to tell which pieces of currency are which. For coins, there are a few fun activities that can make the size, color, image and value easier to distinguish. 1) Money Rolling One of the biggest hurdles kids face when trying to tell coins apart is that they might generalize too much. You might know the generalization tendency from the proverbial “all four-legged animals are dogs” rationale, which tends to disappear as kids get more information that allows for better classification. As an example of how this shows up with money, in U.S. currency, instead of recognizing that each coin has a different person on it,… Read More →
We are excited to announce the new bankaroo App for Amazon Kindle. You can download it for FREE here. Please help us by sending feedback and rating it on Amazon.
That kids need to learn about money is somewhat of a given. Not all parents and caregivers are clear about when they should start teaching their kids the basics, however. These signs may signal that your child is capable of moving forward. 1) He has a sense of numerical value. Kids are not born with an understanding of what “one” means. Even so, they must gain this understanding to work with money, because just about all money systems are built on multiples of an individual unit. For instance, in the United States, the smallest money unit is the penny, which is worth one cent. A nickel multiplies the penny by five and, therefore, is worth five cents. If your child… Read More →
Eventually, you’ll want your child to move away from a basic piggy bank and explore working with a regular bank. These are the key points you’ll want to touch on as your child gets ready to open his first account. 1) You don’t lose your money when you deposit it. Very young kids tend to think very concretely, developing their ability to reason and think abstractly over time. At first, it can be difficult for them to understand that they still keep ownership of the money they put in the bank. You’ll need to explain to your child that the bank is like a piggy bank on a much bigger scale, and that bank tellers and related workers… Read More →
Children and youth from 23 countries have been worshipping, debating and sharing ideas for the past two days at CYFI’s Youth Meeting at the United Nations Headquarters in New York. Held on the 21-22 May 2014, the young participants took part in fun and interactive workshops where they furthered their knowledge on finance and Economic Citizenship. The young people also discussed how their financial and social wellbeing can (and should!) be included in the UN’s Post-2015 Agenda. As part of this amazing event, Danielle and bankaroo received the entrepreneurship award for building a service that helps so many families around the world to educate their kids to be ‘money smart’, learn how to save and set goals. More details will follow…… Read More →
If your child watches TV, the odds are pretty good that he’s seen at least one commercial for a pawn shop. In fact, because of how these businesses market themselves, he might even be more curious about them than other financial institutions he’s more likely to use long term, such as a bank. Going over how these companies work can help your child use them wisely in the future. How a Basic Transaction Works In a simple pawn shop transaction, your child brings in something of value, such as jewelry or an electronic item. The pawnbroker then tries to determine what the item is worth. He offers a loan based on the estimate. If your child takes the loan, the… Read More →