Recommended Website:
KidsBank.com
Age Range: 5-12 (approximately)
This website, sponsored by Sovereign Bank, explains the fundamentals
of money and banking to children. It demystifies money and banking
and teaches good savings habits so that children will have the
confidence to spend and save their money wisely.
When you get to the site, you can choose to see the website through
one of two versions. Before you make a selection, click
on “introduction and download pages” just below the illustrations.
There you can learn what this site has to offer and the best way to
navigate the main sections that include:
- The Story – The five-chapter story begins on the homepage, where
children join the KidsBank characters on a tour of Money, Savings,
Interest, Checking, and Electronic Banking. Begin your journey with
Penny to follow a logical progression through the topics. While the
story is written with young children in mind, older kids should look
for the click-able icon, known as “The Professor,” who provides more
detailed information. For example, interest is discussed in simple
terms in the story, but the Professor explains the difference between
simple and compound interest. - Calculators – Use 2 interactive calculators to see how time,
contributions, and interest rates impact a child’s savings. The first
is The Holiday Savings Calculator that shows how much money a child
can save by a specific date, based on principal and weekly savings.
The second, a Car Calculator, shows a child how much he/she can save
over a certain number of years, based on principal, interest, and
weekly savings. - Game Room – Try your hand at 10 multiple choice quizzes based on
information about money and savings learned in the story. Try the
simple Story Quizzes for youngsters, or the more challenging
Professor’s Quiz for older students. - Links- Find Internet Sites about money and other topics of interest
to children and parents.
