MyKidsBank provides a set of online educational simulations for teaching financial literacy. MyKidsBank virtual onlne banks provide learners with an experience similar to having their own online bank account. The educator is the banker of their own online simulated bank and uses their online bank to teach learners about real-world financial activities such as savings, interest, loans, purchase verses rent, earnings and expenses.
MyKidsBank also provides a personal budgeting tool simulation so educators may provide learners with an actual experience of creating and maintaining their own monthly personal budget using their virtual bank accounts. In addition, a private online MarketPlace simulation is also available to educators so that their learners may experience making purchases similar to making real online purchases.
MyKidsBank private bank simulations are used for variety of Educator needs including managing a classroom economy, providing accounting of simple rewards or preparing learners to manage their own finances in the real world.
Requirements
Laptop or mobile, internet access
Analyze costs and benefits of different credit and payment options for goods and services, the role of lenders, and interest
Alignment of the Resource to this Standard
IOER Community Rating: Not Rated
Explain how time, interest rates, and inflation influence savings patterns over a lifetime.
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IOER Community Rating: Not Rated
Explain how to make informed financial decisions by collecting information, planning, and budgeting.
Alignment of the Resource to this Standard
IOER Community Rating: Not Rated
Analyze the costs and benefits of various strategies to increase income.
Alignment of the Resource to this Standard
IOER Community Rating: Not Rated