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.