The stock market isn't just for grown-ups anymore, thanks to BusyKid, an online chores and allowance platform that teaches children to save, share, spend and invest money. Along with its partner, the investing website Stockpile, BusyKid is offering families that enroll $10 per kid (for up to two children) with which to buy shares.
Participants can invest in a variety of companies, including Apple, Amazon and Nike, for no fee.
The experience is meant to "help parents open a dialogue with their kids about investing and provide hands-on experience with the world of stocks," according to a BusyKid press release. The children can buy a real stock, monitor its performance and make decisions about whether to trade or sell.
Gregg Murset, BusyKid chief executive officer and chief financial officer, says in the release that learning to invest at an early age can lead to financial success in the future.
"Investing is a major component to financial success, yet this is never explained to kids until they get to college … if even then. Most schools fail to teach in-depth finance, and studies continue to show that parents feel inadequate filling the void."