Using The Fetch App To Teach Financial Literacy to Kids
Financial literacy is an essential life skill that everyone needs to learn at some point in their lives. Unfortunately, many schools do not teach it, instead quizzing youths to identify different kinds of rocks, thus foisting the responsibility upon parents.
Luckily, there is a way to teach kids that financial literacy is as easy as having fun & saving money.
Fetch is a free app that allows users to earn points by purchasing certain products or brands. Users can then exchange these points for gift cards to popular retailers. The app is easy to use, and can teach them independence, responsibility, and the power of consistent, daily savings.
Here are some ways to use the Fetch app to teach your children financial literacy:
Set a savings goal
Setting a savings goal is an excellent way to teach your children about financial planning. You can help your child set a savings goal, such as saving for a new video game or toy.
Encourage your child to save their points and exchange them for a gift card to purchase their desired item. There are lots of gift card partners that cater to the younger crowd on Fetch. If a child is video game-motivated, dangling the latest Zelda release via a Nintendo gift card, or getting them Robux via a Roblox gift card is a good way to practice what you preach. You can find gift cards to use on games for Playstation or Xbox, too.
Another way to use Fetch is to compare prices. While making your shopping list, you can track the prices of specific products as costs fluctuate over time, or compare the price of the same items at different retailers.
While crafting your list, use Fetch to see which brands or stores offer the most points. This can teach your child the importance of comparing prices before making a purchase.
You can also show your child how to calculate the value of the points earned and compare it to the cost of the product.
Teaching your children about budgeting is essential for financial literacy. You can use the Fetch app to create a budget with your child. For example, if your child receives an allowance, set a weekly or monthly budget. Use the app to find products or brands that offer points and help your child make purchases that fit within their budget.
Become a disciplined snapper
Comparing prices & budgeting are important things to teach before hitting the supermarket, but the lessons don’t stop there. You can put your child in charge of snapping all receipts from shopping trips to give them greater ownership of the consumer experience, while also allowing them to participate in the fun of Daily Reward.
Teaching the youths about charity is another essential aspect of financial literacy.
Fetch allows users to donate points to various charities. Use this feature to teach your child about giving back and the importance of helping others. You can encourage them to donate points to charities of their choice on the app, including the American Red Cross, Girls Who Code, the American Cancer Society, the Special Olympics and many more.
Kids with jobs
Lastly, Fetch can teach your kids a little responsibility & accountability in regards to your family’s shopping trips.
Letting your child navigate the app to find relevant offers on your shopping list can gamify a strong foundation for long-term fiscal responsibility. Furthermore, putting them in charge of scanning receipts after each shopping trip is one less thing for you to remember.
You should also allow your child to track Daily Reward so they know when spins reset each day to learn daily scanning & saving habits.
And remember: Fetch is all about having fun & saving money. Don’t let your child get too stressed out by balancing checkbooks or budgeting mortgages just yet. For now, show them that making prudent financial decisions can pay off with sweet, sweet Robux.
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