Virtual transactions have become a way of life for so many of us. The convenience of making digital deposits, withdrawals and managing our accounts on the run makes them almost indispensible – and necessary – in our digital world. At least for adults. But more websites are popping up with virtual tools to help teach kids money management. I was recently asked to weigh-in on what I thought of allowance tracking websites. Here’s the link to the article:
Ultimately, it comes down to this – If teachers are teaching that two plus two equals four, they don’t just write it on the board. They take two toy blue houses out of one bin, two toy red houses out of the other, they wrap a rubber band around it and, all of the sudden, the kid looks and it makes sense. Everybody loves these online solutions, but they’re not curing the social ills of financial illiteracy.