Do pay-for-play apps take advantage of kids?

More children are using smartphones and tablets, so they’re increasingly playing and downloading apps.

The problem? Some apps aren’t 100% free. Initial downloads don’t often require payment, but these tech-savvy kids are then encouraged to buy virtual goods during game play.

Read:

Cap your child’s technology usage

When technology takes over

Then when bills get delivered, their parents are unprepared for the extra charges.

This is precisely why the UK’s Office of Fair Trading is now investigating whether these types of apps are pressuring children, reports Financial Times.

It adds the investigation will determine whether the games “are breaching unfair trading regulations” by being misleading and aggressive. Read more.

In the meantime, try offering parents tips on how they can educate their children about finances. You can use these articles to guide the conversation:

Raising financially fit kids

Tips on how you can help clients expose kids to the principles of money at young ages.

Money management lessons for parents

Parents agree financial literacy is an essential life skill, but many don’t broach the subject with their children. Here’s some tips on how to answer kids’ common questions.

Make sure kids don’t inherit too much

If your clients are rich, they’re likely concerned about spoiling their children.

How to teach kids about finances

The majority of Canadians (72%) say today’s generation of young adults face more financial challenges than past generations.

Kids more financially savvy than we think

A survey of Toronto junior school students shows children can grasp baseline money management lessons.

Money lessons for kids

Three ways to encourage kids to save and manage finances.