“Moooooooooom! Can I have that?! But I neeeeeed one! Everyone else has one!”
That’s a pretty familiar sound, isn’t it? It’s not just my kids is it? It can be hard to know when to say yes and when to say no. We want to teach our children how to manage money, but sometimes it’s hard to keep track of allowances, making sure the kids are spending their money wisely, and learning how to save.
There is help! I’ve found this great virtual banking program called FamZoo. It’s a family-friendly and most importantly, kid-friendly. I like to use it to manage my children’s allowances. My favorite feature is that I can customize the allowance “type” to each child. I can set up my 14-year old’s account to split his allowance into spendable money, money that needs to go into savings, and charitable donations. At the same time, my 2-year old can have her own account where I would track birthday checks, quarters she finds under the couch, etc.
The money is all virtual. You keep track of what is in your kids’ allowance fund (and they can too – each family member gets their own log-in). There are mobile features so that you can check account balances and/or make adjustments while you’re away from home.
FamZoo.com is a great way teach your children how to manage their money and to give them a hands-on lesson to see where their allowance goes. If you’re still not convinced, go have a look around – they have a one-month free trial – just use coupon code HOLIDAY2010 when you register (expires 12/31/10)!
You can also give a FamZoo gift subscription and help other parents teach their kids good money habits.
Watch the video below for more information and then head over to FamZoo.com to sign up today!
This post was written by Crystal P., a LessonPathways.com Team Member and teacher. You can read more of her education-related articles at Crystal’s Thoughts.
*This post was sponsored by FamZoo.com, an affiliate partner of LessonPathways.com. All proceeds from this post and other affiliate commissions go directly towards the cost of maintaining LessonPathways.com and keeping it free for everyone. While FamZoo.com has sponsored this post, the opinions and review belong to the author.