Are Your Kids Savings Savvy?
I have to admit that I haven’t done as well teaching my daughter Amanda (age 9) about money as I would like. When I heard about Kids $ave software, I thought it could solve a lot of my problems.
Problem 1: I always forget to give Amanda her allowance on a regular basis. When she wants to buy something, since I know that I haven’t enabled her to save on her own, I usually just end up handing over some cash (as an advance or payment in arrears), which doesn’t teach her anything about the true value of a dollar.
Problem 2: When I do give Amanda her allowance, she will spend it at the first opportunity. Two dollars buys you junk worth two dollars, which again is not really conveying the message about her money that I would like.
Problem 3: Even if Amanda does decide to save up for a much-wanted big-ticket item, it seems out of reach so her resolve soon fails and she’s back to buying junk.
The program is easy to download from www.kidnexions.com. You can try it out free for 35 days. Anytime during the trial, you can purchase a key, which allows you permanent access to the program. You can set up different accounts for various family members. Each child can customize his or her own screen.
How did Kid $ave work at solving my problems? Quite well actually.
Problem 1–SOLVED: I can set it up to pay Amanda on a weekly basis. I can also add in bonuses, which I like, because I do financially reward her for taking care of her brother or doing extra chores around the house.
Problem 2–SOLVED: Cash just screams out, “Spend me!” Seeing a balance in her account is something that she enjoys. This makes it operate truly like a bank account, which really does teach her how money works. If we are out, and she wants to spend some of her money, I can give her the funds and then debit her account online.
Problem 3–SOLVED: Last year I did open a savings account for Amanda (you can rectify real bank balances with the amount online as well). She has decided that she would like to buy a trumpet next year when she is allowed to join orchestra at her school. Having a goal has made her much less frivolous with her money. This is one of the best features of this program. She can play around with the time and see how long it will take her to reach her goal. She has had a lot of fun with this, even seeing how much she will have in ten years.
Go ahead and download the program today and try it out. One of our readers will win a license key so that they can download the full version. Just leave a comment and we’ll draw a winner on January 31.
137 Comments
Please enter me! Thank you.
This will surely take care of the “I want’s” in the stores….I would love to have this prize.
Thanks,
Linda
I blogged your contest on this post:
http://laurawilliamsmusings.blogspot.com/2008/01/tuesday-122-edition-of-contests-galore.html
my kids would love this!
Hi, I love the idea of this giveaway. I think I need it more than my children! Please enter me in your contest. I appreciate it…..Thanks,Cindi
I hope my boy likes the software.
what a neat idea
This would be perfect for showing teaching kids about money!
This looks very cool!
This is a fantastic idea…I’m going to download it and try it with both my 12 and 5 year old.
I wish all of you the best of luck…& me toooooo LOL
This would be perfect for my son. It would help him in saving for things he wants instead of buying junk!
Count me in please!
This would be great to get me to be consistent with allowances, and the kids to save and see the great results.
This software is genius.
This sounds great!
I would love to have this
What a great idea, wish I had thought of it.
How neat! Thanks for the chance to win!
Thanks for the contest!
Please enter me.
I wish I would have had this when I was a kid. Our kids today are so lucky.
I wish I had this years ago. My daughter is 18 and knows nothing about money- she is very stubborn to teach anything to. This would be perfect.
you sound like my gf always everything money why you no just let things take care them self an no worrys
I would love this to use with my little girl
I would love to win this for my daughter and granddaughter
My little niece needs this… but I don’t think it’ll keep her Mom from stealing her money.
This is wonderful!!!
Neat Idea! Please enter me!!!
please enter me thanks, freebiegoddess03@aol.com
Enter me please!
airalynn@gmail.com
Oh how neat.
This is great. I am sure that this would have been helpful for alot of us to learn when we were younger!
Good luck!
Great learning tool
All kids coul use something like this
So nice to see this discussion. If the current times show us anything, it’s the importance of raising financially savvy kids that are in the position to ward off money problems in the future.
Another good product is http://www.fiftyp.com. They offer free memberships, there is nothing to download and in addition to learning about saving, spending and investing, they also stress sharing. Kids can become socially conscious while learning to manage money if fun ways. Its fun for the kids too and easy for parent. The kicker is that the company donates 50% of it’s own money to charity and lets the kids decide how the money is donated to the charities. Try it out at http://www.fiftyp.com