This article is in collaboration with Family Mint.
Looking for a way to teach your kids how to manage money? How about a place to “deposit” their allowance or savings without having to actually open an account at the local bank?
Family Mint is a free online website where parents and kids can do that and more.
- Family Mint is money management for kids where parents are the bank.
- Kids manage their own money by setting goals and entering transactions.
- Parents motivate kids through:
~ Interest rates they set themselves
~ Automated allowance
~ Matching deposits on important goals
- Set goals for items they want to save for, and even allocate money to donate to a charity of their choice.
- Log into their own accounts to set goals, or request withdrawals which can be approved or denied by the parent when he or she logs in.
- View plenty of graphics and visualize where their money came from, where it’s going and how to manage it.
- Log in and see all of their children’s accounts at one time.
- Make deposits and set up automatic deposits of allowance each week, if so desired.
- Set up a set amount of interest on savings, or match deposits made on important goals.
There are plenty of graphics showing the kids where their money is, and help on setting savings goals.
Whether you use your child’s real allowance and savings, or just a virtual amount of money, Family Mint is an excellent tool to help educate your kids about money management. Plenty of educational opportunities abound with Family Mint.
Crew Members were asked to review this free version of Family Mint. Be sure to click on the links to read their experiences with this product.
10 thoughts on “Family Mint”
We loved it, loved it!
After just using the FamilyMint account for a few weeks, it has changed how our boys look at their money. This is a great program that every child who has money to spend should use.
This is a wonderful way to teach children money managament while they are growing up.
This website is nicely put together and has lots of potential uses.
Since my husband handles all the finances, this is more up his alley. However, seems like a great teaching tool.
What a wonderful FREE resource for all families to use to teach fiscal responsibility to kids. FamilyMint takes a potentially dry and boring topic and brings it to life at FamilyMint.com. I highly recommend signing up for a FREE membership with FamilyMint.
Don't let the fact that it's free fool you into thinking that it doesn't have any value. We love the goal section that breaks down how much you have to save each week to meet your goal.
This is an awesome free service to parents…thanks bunches Family Mint!!!
Interesting concept. parents have to make sure they keep the cold hard money in their accounts too!
Julie K at Training for Eternity.
"I think now this experience has made them (kids) appreciate even more that money literally does not grow on trees and that the sacrifices we make as a Christian family who tithes, live on one income, that they realize how and why the way we live more understandable." –Jessica S.@ A Mother of Action