5 Must-Have Financial Literacy Apps for Teens: Empower Your Youth with Money Management Skills

In today's fast-paced world, financial literacy is a crucial skill for individuals of all ages, including teenagers. Learning about budgeting, saving, and investing early on sets you up for a lifetime of financial success. Fortunately, with the rise of technology, there are numerous apps available that make learning about finances engaging and accessible for teenagers. In this blog post, we'll explore some of the best financial literacy apps specifically designed to empower youth to take control of their financial futures.

• Yuby: Yuby is a comprehensive financial education platform tailored specifically for teenagers. It covers a wide range of topics, including budgeting, saving, investing, and even entrepreneurship. Yuby utilizes interactive quizzes, articles, and challenges to make learning about money management fun and engaging. It also allows parents to monitor their child's progress and set financial goals together.

• Acorns: Acorns is an investment app that introduces teens to the world of investing in a simple and approachable way. Users can link their debit or credit cards to Acorns, and the app automatically rounds up their purchases to the nearest dollar and invests the spare change in a diversified portfolio. This hands-on approach to investing allows teens to learn about the power of compound interest and long-term wealth building.

• Fidelity Youth: Fidelity Youth is an app that gives teens the power to make money moves. You can create custom money buckets to budget and save your money. Users can start investing in stocks through the app with as little as $1, and even get paid to learn and practice good financial behavior! By creating an account, each user will recieve $50! Parents can monitor the account to ensure their teens are able to make, manage, and invest money through the app.

• Stockpile: Stockpile is an app that allows teens to buy fractional shares of their favorite companies with as little as $5. It's a great way for teens to dip their toes into the stock market without risking large sums of money. Stockpile also provides educational resources to help teens learn about the stock market and make informed investment decisions.
  

• Wally: Wally is a budgeting app that helps teens track their expenses, set savings goals, and manage their money effectively. It offers features such as customizable spending categories, expense tracking, and insights into spending habits. Wally also has a user-friendly interface that makes it easy for teens to stay organized and in control of their finances.

Financial literacy is a valuable skill that every teen should possess, and these apps make learning about money management fun, interactive, and accessible. By using these tools, teens can develop good financial habits early on and lay the foundation for a secure financial future.

Works Cited

“Fidelity Mobile Apps | Invest, Trade, & Manage Your Money on the Go | Fidelity.”, www.fidelity.com/mobile/overview.

“Mutual Mobile.” Mutual Mobile, mutualmobile.com/work/yuby. Accessed 20 Feb. 2024.

“Stockpile: How Families Invest.” www.stockpile.com/. Accessed 20 Feb. 2024.

Acorns. “Acorns - Invest, Earn, Grow, Spend, Later.” Acorns, 2019, www.acorns.com/.

“Wally Budgeting App Review (2024): Is It Worth It? - Kids’ Money.” www.kidsmoney.org, 17 Oct. 2022, www.kidsmoney.org/college/budgeting/wally-review/. Accessed 20 Feb. 2024.

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