Want to teach your kids how to be smarter with their money? If you give your kids an allowance, you could use one of these allowance tracker apps recommended by MNN's Business Blogger Melissa Hincha-Ownby. But if you want to go beyond tracking the allowance and give your kids tools to understand budgeting, saving, and investing their hard earned dollars, look no further than one of these fun apps for your iPhone or iPad.

Kids Money.

Free, iPad, iPhone, iPod Touch

Kids can use this app to track their allowance, set goals for future spending, and decide what they can afford to buy within their budget.  My favorite feature is the calculator that shows them when they will be able to purchase an item according to a savings plan that they create.  So if they are trying to save up $200, the app will show them how long it will take depending upon how much they set aside each week or month. It can also make adjustments to the overall timeframe each time new expenses or income are added.

Save! The Game.

Free, iPad, iPhone, iPod Touch

Save! The Game was created by Mass Mutual to teach kids about the real rewards that come from saving money.  In the game, kids have to save money in a piggy bank while avoiding the iWannas - characters that come along and steal your cash.  It's more of a game than a financial tool which might be perfect for the kid who thinks saving money is a drag.  And it's sure to spark a few conversations about distinguishing between wants and needs.

P2K Money.

Free, iPhone, iPad, iPod Touch

With P2K, kids can track their income and expenses, while also creating a wishlist of items they want to save up to buy.  The app lets kids chart a history of wishlist items that they have purchased and rate whether or not the item was worth the money spent.  And it has several unique features such as allowing kids to upload photos of items on their wish list and track money earned from doing extra chores.

Tykoon.

Free, iPad, iPhone, iPod Touch

This fun app teachers kids about money management skills by letting kids track allowance, extra money earned, and wishlists. The app lets kids track things earned besides money such as extra TV or internet time for tasks assigned by parents. It also lets kids purchase parent-approved items directly from Amazon.com and give directly to charities via Network For Good, so you need to decide whether those would be good features for your kids to use or not.  

Savings Spree.

$2.99, iPad, iPhone, iPod Touch

At $2.99, the Savings Spree app is the only one recommended here that isn't free, but as the winner of the Parent's Choice Gold Award and an Editor's Choice Award from Childrens Technology Review, this often recommended app is worth the money spent.  It teaches kids how the financial choices they make each day can add up to big savings or big expenses, depending on how they decide to use their money.  It shows kids how to save for short term goals, make frugal decisions, donate a portion of their savings, and invest money for future expenses.  

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