Goldstar Savings Bank is a new educational app that teaches kids two important lessons: the value of money and also to remember to complete their chores.
The app, aimed at 4 to 11 year olds, is a form of the 'gold star' system favored by many parents. When the child completes a chore around the house or does their homework, they earn a gold star which can then be put towards an eventual goal of a fun treat.
Going one step further, Goldstar Savings Bank encourages kids that there are numerous types of financial strategies that they can follow in order to achieve their goal. They can redeem their stars early on with their parents, thus earning a small treat, or they can save up, unlocking new saver levels and eventually being rewarded with a bigger treat.
Numerous encouragement messages are included, along with a journal feature for 'Show and Tell' scenarios with their grandparents, as well as giving them a place to showcase their creativity. The parent can gear the app towards a certain group of tasks such as school or at home, thus enabling the child to see where they need to focus their attention.
Goldstar Savings Bank promises to be fun but it also promises to encourage kids to form good habits, as well as learn to save wisely.
The app is out now for the iPad and priced at $2.99.