RBC is the first Canadian financial institution to launch an iPad application to help families teach children the value of money. Learning Money with Leo, a free iPad app that is available to all Canadians, offers an entertaining and interactive way for children to learn how to earn money, save for something they want and spend wisely.
“Our idea was to offer children a fun and engaging way to learn basic money skills they can build on in years to come,” explained Jane Broderick, SVP Marketing and Channel Strategy, RBC. “This app is hands on and tailored for children to use independently through games and advice, which will save parents time and teach children the value of money.”
Children are becoming increasingly tech savvy at a young age. Recent research shows that approximately half (52 per cent) of children under the age of eight have access to mobile devices, iPads or video iPods, and 46 per cent of children aged five to eight use a computer at least once a week. Learning Money with Leo uses the latest technology to introduce young children (aged three to six) to money concepts.
Some of the features within the Learning Money with Leo app include:
- Leo the Lion Guide – provides simple instructions and positive messages through games and activities to engage children and cheer them on to success
- Interactive games – provides children with an opportunity to recognize coins of different denominations, and earn reward coins in return through games such as Match It, Solve the Maze, Gather the Coins, Spot the Differences and Sort the Coins
- Read-along story book – teaches children the value of earning and saving
- Sticker book and sticker store – earn reward coins through playing games and receive stickers at the sticker store to create a picture of their own
“Children are in their prime learning years and can absorb everything,” added Broderick. “The value of money, what it means to earn money and the benefits of saving can start to really sink in at this age.”
To help families manage their overall finances, RBC has also introduced the Financial Advice for Families section on the RBC Advice Centre, offering:
- Financial advice for new and expecting parents – to help families become more money savvy and develop confidence in making financial decisions
- Money management tips for families – to help families create budgets and set financial parameters, using online financial tools
- Advice for parents on how to teach their children about money – to help parents introduce the concepts of earning, spending and saving