by Angela V 
It is never too early to teach children about the concepts and value of money and what it means to be responsible with ones finances. One of our responsibilities as parents is to prepare our children for their future and money sense can play a very important part of their education.
I recently had a chance to try out the RBC Royal Bank’s free Ipad app “Learning Money with Leo” and I was enthusiastic to learn about a free tool that helps teach our children about money in a fun and entertaining way.
This free Ipad app features Leo, a friendly lion that guides you through all of the eight games available in the app. Our favorites were the coloring book and read-along story. I like the fact that you can personalize the app by adding your child’s name and creating a profile which is perfect when using this with multiple children.
It is very important for young children to know that money does not grow on trees or magically out of an ATM machine. They have to learn that people usually have to work to earn this money. The virtual sticker book allows children to earn coins while playing the games to buy the stickers, teaching this valuable lesson.
I love the idea of having a piggy bank they can use to save money so they can help pay for their own toys or things they want. I remember doing that when I was little and learning about the value of saving money I earned from helping with chores. It is a tradition that I intend to start with my own son as soon as possible.
If you own an Ipad I definitely encourage you to download the free app “Learning Money with Leo” (available in both English and French) and try it for yourself. Just type the app’s name on Itunes to download.
Now a question for you: Why do YOU feel it’s important to teach your kids how to understand and responsibly use money?
Win it: One lucky Canadian reader will receive a $50 RBC Visa Gift Card. Enter the giveaway via Rafflecopter below. (You may enter the same giveaway across multiple blogs but may only win one prize. Good Luck!)
Disclosure – I am participating in the RBC Learning Money With Leo program by Mom Central Canada on behalf of RBC Royal Bank. I received compensation as a thank you for participating and for sharing my honest opinion. The opinions on this blog are my own.
132 Comments on “RBC Royal Bank: “Learning Money with Leo” Ipad App {$50 Visa Card Giveaway}”
I feel I need to teach my children about money because one day they’ll have to provide for their own family & things just keep getting more expensive!
So they don’t grow up to be financially responsible and not end up in debt spending frivolously
i dont want them to think money grows on trees! they have to learn you have to earn your money
Teaching kids early on about understanding and using money will help them to develop good spending habits and become financially independent.
I think it is incredibly important to teach my children to save their money to purchase what they want rather than using plastic. Credit card debt is incredibly debilitating.
teaching my children the importance of saving money early on is beneficial to them because it teaches them responsibility and starts good spending habits
So they don’t make the same mistakes that you did!
I feel it’s important because financially responsible kids grow up to be financially responsible adults.
I think it is important to teach kids about managing money because it is becoming more and more integral to start planning for our futures at even younger ages.
I feel it is important because if they understand it and are showed as children they will grow up to respect it more as an adult.
So they will be responsible in the future
I feel its very important to teach your kids about money and responsibility so that they grow up knowing how to save money and take care of themselves,,and not go into debt!
ksceviour at hotmail dot com
Kids need to learn to save and spend wisely as well as knowing the difference of need and want.
Teaching my kid about money is important because I want him to be responsible with money when he grows up and understand the value of a dollar
bluebelle0367(at)hotmail(dot)com
I never learned about money at all as a kid. I want my kids to learn about how to save and spend money responsibly. I don’t want them to be mired in debt.
Knowing how to handle finances is soooo important.
I teach high school and on a daily basis I encounter students that have no idea how finances really work. It is scary to see people heading into the world not knowing that taxes will be deducted from their wages. I want my kids to be aware so that they know what they will be facing in the “real world.”
It is important to learn about how to save and be responsible with money at an early age so kids can spend wisely and have something saved for college or what not when they become older. You can never start too early.
So to be responsible when they become older!
It’s important to teach kids about money as it lays the foundation for how they will handle money in the future. Teaching them when they are young builds financial management skills so they can be responsible with their money.
we need to teach our kids how to be responsible with their money. I’ve been teaching my oldest as he earns money doing odd jobs. its a work in progress … we dont want our children to end up in debt!!
It’s so important to teach kids the value of money because too many people these days take it for granted. Kids need to know to manage money NOW so that we can all have a financially secure world in the future!
I feel that it’s important to teach my kids about money, so that they can budget and be financially responsible.
It’s important to teach children about money because it is something that will impact their future. Learning the value of a dollar from an early age will help them throughout their life.
I don’t live forever to take care of them. They have to learn to work/save to earn/buy things. What to give & what to pass.
I think it sets them up for life with how they feel about money and use money, we started really young with them letting them use their own money and understand how it works . It has worked pretty well for the most part, one of my kids is not quiet as responsible with it as the other 2 but all in all they do really well
They have to learn that money is earned and you have to work for it! If you want something that cost’s a little more you have to save for it, too many parents just buy kids what ever they want which in my opinion gives them a sense of entitlement.
Absolutely! We all learn at one point but it’s always good to talk about dreams and goals and how we can get there with savings
If I didn’t teach them…. who will?
I Think it is important so they understand at a early age so they know how to be responsible with money
thanks
flower_child_23(at)hotmail(dot)com
It is important to teach them the value of the dollar and for them to become responsible with money throughout the years.
Thanks.
These are tools they need to help them budget when they go out on their own
they need to know this in order to make ends meet when thay are totally responsible for their own finances. otherwise they’ll get so faar into debt they won’t be able to get out sometimes
I believe it’s important to learn your independance when you are young. Especially if you are a girl. I wanted my kids to know that they can rely on themselves. I wanted their relationships to be developed with independance.
I started giving them an allowance when they were five. We then had then put part of it in a jar and once a month we would deposit it to their bank account and they got to watch how it grew!
If they don’t learn as children they will have the stress of debt as adults, a growing trend in Canada.
I think it is important for kids to learn the value of money – how to earn it & how to spend it wisely. Learning the difference between needs and wants & how you have to make choices is a life skill we all need.
I think it’s important to teach my children the importance of money because these days times are tough. They need to learn to spend wisely and to save much as possible.
I feel it’s important because managing your money is a lifelong skill all people should learn
I believe it is best to teach children while they are young that way they can begin at an early age to learn how to handle money properly. Then later in life they won’t get into financial trouble.
It is so important so that when they grow up they already understand the concept and have seen it practiced by their parents
Kids need to learn the value of money, they need to know you need to work hard for it!
It is important to teach kids about money so that when they are older they don’t end up way over their heads, drowning in debt. It sets them up for a good future.
If we don’t teach them they will have no concept of how much things cost or how to budget. So many people blindly use credit and purchase things they can’t afford. Our kids need a strong foundation from a young age so they won’t make these same mistakes.
Because if you dont teach them then they will just fall into the common traps that young adults fall into and end up with a lot of credit card debt and no savings
It’s important for children to learn good spending habits and money responsibility very early on because it will help them through the rest of their lives. It will help them be responsible and independent and one day be able to care for their own family.
I’m so sorry, just realized this is for Canada only. I’m in the US. Please delete my entries. Sorry about that!
Children need to understand that there is a difference between “need” and “want”. Being financially responsible is all a part of that.
I just want my kids to know that money is hard to come by and that you have to work hard if you want anything.
Financial responsibility is an important life skill.
I teach my daughter that money comes from hard work and the importance of saving.
It’s important for kids to know the value of money and to plan responsibly with it.
Its important for kids to know about money etc because its a major life skill! I wish that I had been taught more by my parents and I also wish I taught my own kids more about money and responsibility.
It’s all about respect and responsibility, little ones need to learn that in all areas, including $$ handling.
Not teaching a child how to handle and be responsible with money essentially sets them up for disaster or a harder life as an adult. Knowing how to respect and work with money is an essential life skill that one needs to apply to all aspects of ones existence and the sooner one knows the basics, the more likely a person is to succeed.
Kids need to understand money doesn’t always come easy. They need to know how to use is wisely to maximize whatever they are trying to buy.
I want my children to learn to be responsible with their money and to spend it wisely
It;s a lesson that’s going to be needed all throughout their lives so the sooner they learn it, the better.
Why do YOU feel it’s important to teach your kids how to understand and responsibly use money?
I would never want my kids to be in debt and have trouble getting out of it. We teach our three kids by leading by example.
It’s important because even people with a whole lot of money have been known to blow it irresponsibly.
I feel it’s important to teach our kids how to use money responsibly because I see how our generation misuses and over spends. It makes me sick! I want our kids to learn the importance of saving and spending wisely.
I would hate for my boys to suffer with debt.
This is life lesson that will help you throughout your life. It’s so important to teach kids about money.
I feel its important to teach your kids about money and responsibility because when they get older they will know how to take care of themselves and their money, and to make the right decisions !!!
Children are fast learners, this is one money saving endeavour they ought to experience early.
Hooray for RBC for taking this initiative!
Thank you RBC.
It doesn’t matter if we like it or not, money is a language we all speak. The earlier one learns about money, the better they’ll be able to use it in this world for the greater good!
Teaching children about money is something “so valuable” for their future! My husband and I already teach our 3 year old about tithing which is important to our family.
They will need this skill for the restof their life. With proper management/saving, they can have the life they desire.
March 16-Teaching children the importance of responsibility will enable them to make better financial decisions as they get older. I have found that some of my children were thrifty from the beginning. The others had to learn to be careful with their money. Responsible spending is a key factor in their future happiness.-el03ro
The children of the next generation need to understand the hard work that went into earning those dollars. They need to abolish the teen trend of “entitlement”. An honest day worked/honest day wage.To appreciate little things and not get caught up in ‘HAVING” everything. To live the adage “SAVE FOR A RAINY DAY”.
emu839(at)gmail(dot)com
eva urban
I think it’s important to learn how to save money and be responsible so that our children can live fulfilling lives without being over run by debt. Especially since education (and other things) are so expensive.. I want my children to be able to afford what’s necessary, and understand when things aren’t and how to save for a rainy day.
as a parent, it is our responsibility to teach our children about these things. it’s all part of raising a responsible adult
I think it’s important to teach kids good money habits now – so we can avoid the massive debt problems my generation is facing!!
Because it’ a basic life skill, and it’s my job as a parent to teach my kids how to budget and to live within their means.
I think its my responsibility to teach my kids because they need to know how to budget at a young age so they dont fall into the credit trap and learn to live with what they have rather then borrow
Children need to learn from an early age the value of money and saving it so it becomes a habit for later in life.
Its important so that when they have left home they understand that money has to be earned and they will appreciate its value
It is important because they have to be able to provide for themselves when they enter the adult world…. finances will definitely play a major role in success.
I think its very important for later in life. My parents taught me the values, and responsibility of spending and saving money. A lot of my friends were never taught this and now in their early / mid 20s, they dont work, cannot pay bills, in major debt, and depend on their parents. Whereas I have a large savings account, pay all my bills since I was 16, owe my own car, and keep myself above water. I think its easier to teach while they are younger and explain it to them then rather than later (its more to stick with them).
Kids need to learn how to use money so they have respect for it and can understand how to use it when they are older. 🙂
It makes them more accountable and responsible
ontariohappychick at gmail dot com
As parents, we’ve had our share of bad finance choices, etc and we don’t want our kids growing up doing the same things..so for me, teaching my child at an early age is one of the best tools around!
email used for subscription is yobonks(at)gmail(dot)com
it’s so important because they will be using money all their lives
pkeintz@gmail.com
I think it’s important because it’s a skill they can use their whole life!
I believe it is important for children to learn to be responsible with money because in a plastic society it can become very easy to get in over your head with debt. I feel if you work hard to earn your money then you should most certainly learn how to spend it and save it wisely.
It is important because kids will never get anywhere in life if they can’t save up some money.
I wonder if this app teaches kids to avoid paying high bank fees…
From experience, I know that it’s a lot harder to learn to be financially responsible when you’re an adult if you aren’t taught as a child. When you’re a kid, it only takes a firm word to realize you’ve done something wrong; as an adult, it might take a couple of thousand dollars…
Because one day they are going to be all grown up and I want them to have the skills and knowledge to be independent and successful and money management is a big part of that
If they can’t figure it out as kids, they’ll have a hard time figuring it out as adults.
I want my children to learn the value of money because I do not want them to fall into the credit card trap.
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So they will become responsible adults.
So they will appreciate the value of money later.
Because they will need money skills as adults.
I think it’s important because it can provide them with a good foundation as to money concept and get them to understand not to over-spending and in debt when they grow up
This is my third time answering this question but they always seem to be deleted. Please let me know if I am doing something wrong. It is important to teach children about money because this is life long, like a business. Need to know what comes in and what goes out. Knowing how to handle money gives you a heads up, now and later on.
Hi Doreen, I have not deleted any of your comments in the past but now I wondering if my SPAM plugin deleted them thinking it was Spam…I will check into! Thanks for the FYI and thank you for posting!
SO later in life they are able to save money for downpayments, and are able to keep up with monthly payments without going into debt.
Because it is an important life skill.
It is important because without that skill they will never appreciate things you do for them, and will think that money is just easily attainable, when they really need to work hard to earn it.
It’s important to that they can become responsible adults and understand the value of money
it’s important to teach kids to save, to donate and to have a little to spend 🙂
So they are prepared later in life! Giving a little, saving a little can go a long way to being financially stable.
nathania.a at gmail dot com
mar 31, accidentally clicked enter and did not include twitter link
here it is
https://twitter.com/#!/Pamalot28/status/186223017167306752
I feel it’s important so they don’t get into debt later on in life and that’s why they need to learn about money and saving/spending for needs vs. wants.
So that your children do not end up in debt.
It’s a wonderful foundation for tithing which we feel strongly about in our family.
So they grow up to be financially responsible adults
It will hopefully keep them out of debt later in life
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Jessica Bleasdale (JACB)
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I think its important to teach kids about money because money is an essential part of life.. sad but true. you need it to survive. Teaching them at a young age is important also to set them up for their future. Giving them the tips and education they will need to manage and control their finances when they get older.
Because if they don-t understand, they are going to have a hard time since mum and dad aren’t rich…sadly..
How to deal with money is a vital life skill – needs to be taught early and reinforced often.
I would like my children to know how important it is to save your money.
I think it’s important to teach children the value of money by teaching them to save and not waste it on things they really don’t need.
I don’t understand how people can NOT teach their children about how to responsibly use money. If it’s not taught at an early age, how can we expect them to learn it later on? A good understanding of budgeting and delayal of gratification (ie/ if they want a big thing later they have to save now) is fundamental to personal understanding of finances later in life.
Never to young to learn about the importance of money. Early habits become long term habits.
I don’t want my child(ren) going through what I did. My husband and I would love to buy a house but because we were never truly taught how to handle money we have horrific credit and won’t be able to get a mortgage for at least 3 more years. I don’t want things like this happening to our kids.
I never was taught about money, it was a hard lesson. I hope to make saving a life long habit for my son
So they have good habits from when they are young.
I think its important cus I don’t want my kids growing up and not being able to figure out that buying a bunch of junk on a cc and then having now way to pay it off , is not the way to go. I see it every year, Jan rolls around and people are posting that they have no idea how they are going to pay off their cc bills because they bought junk at Christmas time that they never could afford.
I feel it’s important to teach my son about finances because I hear about so many people who get into credit problems as adults. I want him to avoid this.
The individual debt rate per person is always growing…..people don’t know the value of money anymore, got to teach my kids how spend responsibly.
Understanding that money is a responsibility will assist my child in being financially smart. Debt is a serious issue now and I know how it feels to lose everything and have to start over. This isn’t something I want my daughter to go through.
I think it is important to teach kids about money because there is so much pressure to consume and buy that if we don’t teach out kids how to control their spending, it becomes too easy for them to spend.
It’s important because there is such a huge problem with kids feeling “entitled” now-a-days. If your kids understand that money is earned, they begin to appreciate it more – and that helps to mold a healthy relationship with money as they grow older as well.
i think to many people today are in to much debt and i beleive if we teach are kids about money we can change that trend
i think it is important to teach my children about money because if they don`t learn how to use it, it can misdirect, cause major issues, or even ruin their life.
Thank you so much!! It will go to good use, for sure.