Parents may complain about how much time their kids spend on the internet; however, the solution is to use the internet as a tool for teaching rather than just entertainment.
Turn some of the time your child spends on the internet into a valuable teaching tool for learning about personal finances and how to manage money.
Children are introduced to money at a very early age and need to learn about how to manage that money.
Teaching children about personal finances when they are young will give them a solid foundation to manage money and invest wisely in the future.
The following internet tools help parents teach children how to manage money using fun, inventive techniques.
Raise the next Warren Buffet
What parent would not want their child to grow up to be the next great Wall Street financier?
For parents who do not understand the difference between a mutual fund and a Roth IRA, let the great visionary himself, Warren Buffet, teach your kids how to turn a dollar into millions of dollars.
The Secret Millionaires Club has the money guru himself, in cartoon character form, teaching a group of kids about money and personal finance.
Kids create their own portfolios, watch cartoon episodes, play games and visit other financial websites to teach them about money and managing personal finances.
Educating children early about managing personal finances is easy when you have a great tool like this.
Manage family and personal finances
ThreeJars.com allows parents to be the bank and kids to learn about how to manage their allowance.
It teaches kids real-life lessons about saving, spending, and budgeting. ThreeJars does require the payment of a yearly fee; however, being able to teach kids to budget their allowance is priceless (sorry for the pun).
FamZoo.com also comes with a small fee; however, this website allows you to create checklists for everything from chores and homework to grocery shopping.
Between the virtual family bank, you set up and the checklists, you will teach your kids about managing money as well as managing responsibilities.
Become a Wall Street tycoon
It is unfortunate but most children will grow up not learning about trading on the stock market.
If they are fortunate, they will know what the stock market is but they will not truly understand how to buy and sell stocks to make money or how to invest in the stock market to make money for retirement.
Parents, who want to teach their children about the stock market, or even learn about trading stocks themselves, can take advantage of one of the best online fantasy stock market games at WallStreetSurvivor.com for free.
Build stock portfolios, learn how to buy and sell stock and learn the basics of the stock market by playing the fantasy stock market game.
Parents can spend time with their kids competing for the best stock portfolio.