Common Sense Media says

Money-managing site has shopping, strong parental controls.

Age(i)

2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17

Quality(i)

 

Learning(i)

What parents need to know

Positive messages

Tykoon encourages kids to be aware and responsible when it comes to money management and includes charitable giving as a major part of the process. They can also learn to be proactive about earning money by suggesting tasks.

Violence & scariness
Not applicable
Sexy stuff
Not applicable
Language
Not applicable
Consumerism

Tykoon has an Amazon store, and shopping is a major part of the financial-management experience.

Drinking, drugs, & smoking
Not applicable
Privacy & safety

Parents have full control over their kids' accounts and can disable social features.

Parents Need to Know

Parents need to know that TYKOON is an online platform for learning money management. Parents set earning goals and decide how much kids should allocate to savings, purchases, and donations. Some parents may welcome the opportunity to get kids more involved in financial planning, while others may find the site overly commercial with its many opportunities for shopping.

What kids can learn

Subjects

Math

  • graphing
  • money

Skills

Self-Direction

  • goal-setting
  • self-reflection
  • work to achieve goals

Responsibility & Ethics

  • fiscal responsibility
  • honoring the community
  • making wise decisions

Engagement, Approach, Support

Engagement

Kids with an interest in business will enjoy this first taste of the world of finance. Kids will feel very grown-up getting their own login to suggest tasks, choose items to buy or save for, and browse for charities to support.

Learning Approach

Kids get firsthand experience in how finance works in the "real world," since the money they're earning, saving, and spending is real. A visual shows how close kids are to their goals, giving them an incentive to keep working.

Support

Parents and kids can communicate with one another within a user-friendly platform. Parents can block categories of items they don't want kids buying in the Amazon store (such as beauty products or video games).

What kids can learn

Subjects

Math

  • graphing
  • money

Skills

Self-Direction

  • goal-setting
  • self-reflection
  • work to achieve goals

Responsibility & Ethics

  • fiscal responsibility
  • honoring the community
  • making wise decisions

Kids can learn about money management by working with their parents to set financial goals. They'll get an introduction to reading graphs by keeping an eye on their earning history and how close they are to achieving their savings goal. Since parents and kids use Tykoon together with linked accounts, there are plenty of opportunities for parents to discuss their values about money with their kids -- as well as the importance of setting goals and working to achieve them. Tykoon's innovative design makes money management a fun, unintimidating experience for both kids and parents.

This Learning Rating review was written by Susan Yudt

Parents say

Kids say

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What's it about?

Founded by two business executives, Tykoon allows kids and parents to collaborate on setting money-management goals. Parents create a free account for kids and decide how they can earn money (such as through an allowance or by completing chores), then decide how much of their kids' money goes to savings, purchases, and donations. Kids get a separate login that allows them to suggest tasks, choose items to buy or save up for, and browse charities for donations (all subject to parents' approval). They can also connect with friends on Tykoon.

Is it any good?

QUALITY
 

Tykoon has a smart setup that lets parents and kids communicate with each other within a user-friendly platform and give parents lots of control over their kids' experience. Parents can block categories of items they don't want kids buying in the Amazon store (such as beauty products or video games). Kids can be proactive about earning money by suggesting tasks and pay rates. Tykoon encourages saving and giving, but shopping is also a big part of the experience; for example, the dashboard includes a "spend" section that rotates through images of tempting items.

Families can talk about...

  • Families can talk about their values related to money and how websites and apps often encourage spending.

  • Families can talk about the difference between a "want" and a "need." Do you think advertisers target kids and entice them to spend money on toys and clothes they don't necessarily need? Check out Selling to Kids Tips and rein in those wallets.

  • Families can talk about real money vs. the concept of virtual money. Does spending virtual money make you savvier about your own real money?

Website details

Genre:Educational
Pricing structure:Free

This review of Tykoon was written by

About our rating system

  • ON: Content is age-appropriate for kids this age.
  • PAUSE: Know your child; some content may not be right for some kids.
  • OFF: Not age-appropriate for kids this age.
  • NOT FOR KIDS: Not appropriate for kids of any age.

Find out more

Quality

Our star rating assesses the media's overall quality.

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Learning ratings

  • Best: Really engaging, great learning approach.
  • Very Good: Engaging, good learning approach.
  • Good: Pretty engaging, good learning approach.
  • Fair: Somewhat engaging, okay learning approach.
  • Not for Learning: Not recommended for learning.
  • Not for Kids: Not age-appropriate for kids; not recommended for learning.

Find out more

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What parents and kids say

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Parent Written byilovemykids628 June 28, 2012
AGE
7
QUALITY
 
LEARNING

Tykoon is unique and worth trying

Tykoon teaches kids the power of earning and the importance of allocating dollars to causes other than spending such as saving and giving. There is no other service out there at this point that teaches kids to earn money through a real life experience. I will be using Tykoon to teach my kids the value of a dollar.

What other families should know
Great messages
Safety and privacy concerns
Parent Written byMomKnowsBest80 June 28, 2012
AGE
7
QUALITY
 
LEARNING

Tykoon works!

Our family loves Tykoon - it has helped our kids think about money in a new way (not just as something that grows on trees). Our kids want to complete tasks and save up money for their savings goals. They are even looking for ways to help around the house and are asking for more tasks so they can make their goals sooner. Our kids really love to "spot" items they see at stores and save up to buy them instead of whining about how much they want a new toy - it's totally changed the way they look at shopping!

What other families should know
Great messages

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