If you’re a parent or caregiver who’s been feeling about 15 minutes late for everything and just a screw short of personal daily assembly, teaching kids about money at home can be a logistical challenge. Today’s schools understand this, and fortunately, many of them are including finance in their curricula, knowing how money connects to other subjects like social studies, math and even history. Bankaroo provides a good way for teachers, parents and students to work together on money essentials. These are just some of the reasons to bring it to your classroom instead of or as a supplement to other finance education options:
- Requires minimal equipment
Bankaroo is accessible through any Internet-ready device that can run a Web browser program or the mobile Bankaroo app. You can use the computers, iPads or other technologies already in your school’s computer lab or classroom to access the service, so there’s no need to allocate extra space for it or worry about tricky installation/setup. The technological approach also means you don’t have to worry about added clutter—there are no parts or sheets to print, set up or lose, which makes a big difference when you have lots of young children to teach.
- Plenty of ways to customize
Unlike some money tools you can’t change according to your needs,Bankaroo is adaptable to how you prefer to run your classroom. For instance, you can set up an account for every child in your class and let each child track their own funds and goals. You easily could connect these accounts to a reward system you develop for good or helpful behavior during the day. Alternately, you could look at the accounts collectively and have kids work together toward a goal, such as a pizza party or a teachers-get-pie-in-the-face event. The customization options mean that Bankaroo can work through multiple grade levels, too. See the “For Schools” link on the Bankaroo home page to learn more about how to set up the new Bankaroo for Schools service exactly how you want!
- Provides a realistic, real world method
In the past, financial transactions required working with physical bills and coins, and they took much longer to finish, requiring people to go to brick-and-mortar locations to complete their business. Today, the vast majority of money work is done electronically, with the Internet, computers, software programs, ATMs, card readers and other equipment all playing specific roles. Using Bankaroo prepares kids for this technological way of handling money, introducing them to online money tracking and banking in an easy-to-understand format. As a bonus, most kids love using computers—their attention likely will be easy to hold, and they’ll learn both financial and technological skills at the same time.
- Gets kids to pay attention
Even though Bankaroo has a serious goal (training money-smart kids), it’s designed to be fun! With this in mind, most kids absolutely love using computers, especially for games. By letting the kids in your class access Bankaroo, you use technology they already want to learn and present finance in a way that doesn’t seem like work. Subsequently, you’ll likely find that it’s much easier for them to maintain focus and retain the information you’re trying to present.
- Increase kids’ confidence
Using Bankaroo can be an ego boost for young children, sending the message that they’re both trusted to and capable of working with computers and the Internet like adults do. If you have individual accounts for your kids, you have the opportunity to praise them each according to their specific level of progress. If you set up an account for your whole class, the kids can see how working as a team makes reaching a goal possible. They can feel good not just for achieving the goal they had, but for using the social, organizational and related interpersonal skills they’re developing.
Learning about finance is trickier than ever given the hectic pace of life most modern families face. Schools are increasingly willing to help parents and caregivers out and integrate money education into their lessons, but the right tools make all the difference. Bankaroo offers some significant benefits in this regard, remaining cost-effective, setup friendly and realistic. You can adjust how you use it according to your preferences, all while appealing to your kids’ desire for approval and technological fun. The fact it also can boost children’s confidence also is significant. Present these facts to other parents and your school board to get Bankaroo into your classroom!