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.

what-ifscreenv11.png

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.



Email Author    |    Website About Jennifer Donovan

Jennifer Donovan has been a part of the 5 Minutes for Mom team since 2007. She writes product reviews, covers events, and manages the 5 Minutes for Books weekly column and website. She lives in Houston and blogs at Snapshot about life with her family.

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{ 137 comments… read them below or add one }

1 Colleen January 22, 2008 at 10:52 am

We are using Payjr and both kids have well over $100 saved up! Cash definitely burns a hole in their pockets!

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2 Stephanie January 22, 2008 at 11:27 am

Oh how neat. I would love to use this with my kids.

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3 Erin January 22, 2008 at 11:31 am

I’d love to have that! I have the same problem of not remembering to give allowance!

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4 Wanda January 22, 2008 at 11:45 am

This sounds great. I will have to try it with my kids.

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5 Sally January 22, 2008 at 11:54 am

Sign me up! This would be GREAT for my two 9 year olds!

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6 Amy January 22, 2008 at 11:59 am

I have been focused on trying to teach my boys the value of money as well. It is difficult when kids have everything they need and almost everything they want. I would love to have this software to help us raise money savey kids.

I am going to download the demo version now!

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7 Lori January 22, 2008 at 12:06 pm

This would be awesome for both my boys!! Probably for me too..lol!

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8 Erin January 22, 2008 at 12:09 pm

This looks cool. I would love it for my kids

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9 Racheal January 22, 2008 at 12:15 pm

Sign me up my kids have spent it all.

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10 Christine January 22, 2008 at 12:22 pm

What a great idea! I’ve got one SPENDER, and one saver, and Sophia’s just too young to know yet! I think this would help, thanks for entering me!

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11 Heather January 22, 2008 at 12:30 pm

I would love to be able to use this with my kids!

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12 Jennifer January 22, 2008 at 1:23 pm

I would love this! Sounds like a great idea!

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13 Sheana January 22, 2008 at 1:49 pm

This is awesome! I can’t wait to try it!

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14 Anne January 22, 2008 at 2:00 pm

This is awesome! I wish this was available when I was a kid! My daughter would use this well!

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15 Amy P January 22, 2008 at 2:07 pm

I’d love to win this!

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16 Valerie January 22, 2008 at 2:33 pm

I’d love to win this program! And hey, it really looks like it could benefit kids of ALL ages…;)

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17 Shannon Baas January 22, 2008 at 2:34 pm

This is great.

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18 Amy R. January 22, 2008 at 2:37 pm

This would be fantastic for my oldest daughter!

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19 brandy January 22, 2008 at 2:40 pm

This is great! I would probably try this software along with my 4 siblings!

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20 Brandi January 22, 2008 at 2:49 pm

My mother did a wonderful job teaching me to be savy with my money. I think this would be a fantatic new and hip way to help my children become savy with their money.

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21 Lesha January 22, 2008 at 3:06 pm

Oh, this is very nice :)

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22 laurie January 22, 2008 at 3:06 pm

what a great program!!

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23 Karen Gonyea January 22, 2008 at 3:07 pm

Enter Me Please !!

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24 Ann Fantom January 22, 2008 at 3:13 pm

I would love to win this for my daughter

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25 Amanda Kaminskas January 22, 2008 at 3:15 pm

This is an awesome thing! with all the people that are in so much debt because they never learned to handle money this is a way to teach the future generation money skills.

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26 CarrieLynn January 22, 2008 at 3:16 pm

I would love to win this. Looks like a great saving tool.

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27 Ginny January 22, 2008 at 3:48 pm

My 10 year old is terrible with money, this would be wonderful to have!

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28 JanMary, N Ireland January 22, 2008 at 3:54 pm

This sounds a great tool to help kids to save. Thanks

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29 SUSAN VARNEY January 22, 2008 at 4:35 pm

great for my grandchild

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30 heather January 22, 2008 at 4:36 pm

Definitely going to try this out–we have been trying to figure out how to deal with this since we have all three of those problems.

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31 Wendy January 22, 2008 at 4:45 pm

This is awesome:)

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32 Jill H. January 22, 2008 at 4:53 pm

Wish this had been around when I was a kid….

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33 Karen January 22, 2008 at 6:24 pm

Totally love this. No more weeping, wailing, gnashing of teeth (for mom or boy)…

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34 Jennifer C. January 22, 2008 at 6:32 pm

What a great way to teach our computer saavy kids about money!

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35 marcella hugentobler January 22, 2008 at 6:33 pm

THIS WOULD BE GREAT FOR MY 14,11&8 YEAR OLD GRANDSONS.PLEASE!!!!

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36 Rachel January 22, 2008 at 6:46 pm

What a fantastic program! I was never taught savings by my parents nor was my husband by his. So we’ve struggled to figure it out on our own and are now struggling as to how to teach our kids. This sounds like an amazing solution!! Good luck to me and to everyone else entered! It’d be nice to win the key, but I’ll probably purchase one :-) LOL.

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37 carolyn January 22, 2008 at 6:51 pm

great idea!

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38 Kristina January 22, 2008 at 7:33 pm

I love this idea! Sounds like it would be very helpful!

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39 Kathy Conley January 22, 2008 at 7:48 pm

I think this is a wonderful product and would love the full version

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40 Stacey January 22, 2008 at 7:54 pm

This is wonderful!! I would love this for me! And ahem, ofcourse the children!

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41 Linda Moeller January 22, 2008 at 8:32 pm

They know how to SPEND!!!!!

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42 BlurMommy January 22, 2008 at 8:37 pm

Great! I would love to teach my girl to save.

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43 Shera - A Frog In My Soup January 22, 2008 at 8:50 pm

Great Idea!

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44 Shaun Wallner January 22, 2008 at 8:58 pm

This would be great for my daughter!!

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45 Nikki Evans January 22, 2008 at 9:05 pm

This would be so great for my 8 year old… Thanks for offering and considering me for the prize!

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46 linda January 22, 2008 at 9:15 pm

my two boys would love this.

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47 Julie Donahue January 22, 2008 at 9:30 pm

Neat idea. Like you, I forget to pay my son regularly….

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48 Jill January 22, 2008 at 9:47 pm

I was just talking to my hubby about starting an allowance for my daughter. This looks great!

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49 Christy January 22, 2008 at 10:41 pm

This sounds amazing for our family….the kids would love having a bank account on the computer.

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50 stacey moore January 22, 2008 at 10:43 pm

this would be awesome for our son!! thanks

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51 Speaking from the Heart January 22, 2008 at 10:50 pm

I’ve been using Quicken for many years, and have been trying to design a similiar program for my kids. This software will solve my problem.

Thanks for the update. I’m going to pass it on to the homeschooling community.

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52 Lisa Oguin January 22, 2008 at 11:18 pm

Wow! What a way to start our kids off right by teaching them to be financially responsible before we actually send them out on their own!

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53 Mickey Anderson January 22, 2008 at 11:30 pm

This is good. I have a cousin could really use it. It would be great. thanks.

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54 Kathy Scott January 22, 2008 at 11:48 pm

I am a CPA. I need some help teaching my kids, because they will never listen to mom.

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55 valerie mabrey January 23, 2008 at 12:20 am

this is great thanks

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56 Tiff January 23, 2008 at 12:43 am

my daughter has the same problem!! Money burns a hole in her pocket! I’m off to download the trial version!

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57 christopher h January 23, 2008 at 12:57 am

wow, great program

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58 Taowyn January 23, 2008 at 1:32 am

OOH! I bought my niece one of those electronic ATM machines that keeps track of your savings but this is way cooler.

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59 mom24 January 23, 2008 at 8:03 am

Great idea! How else can we teach them when we are just handing them over money or buying what they want. Responsibility feels good to a kid too!

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60 Jenny M January 23, 2008 at 10:01 am

what a great tool- adults grapple with this too- i might learn something as well!

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61 Char January 23, 2008 at 10:59 am

What a great tool. I think this would be perfect for my starting out 5 and a half year old!

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62 Busy Mom January 23, 2008 at 11:35 am

This is such a great tool to start the kids out with. What a great idea.

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63 Janine January 23, 2008 at 11:57 am

So great- downloading trial as I type. Would love to have this for future little savers! :)

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64 CLEMENS January 23, 2008 at 12:07 pm

Thanks for the great contest—Please enter me!!!

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65 Michelle Zamora January 23, 2008 at 12:18 pm

my kids would love this….I had never heard of such a thing. Wow.

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66 Donna January 23, 2008 at 12:37 pm

This looks great for my kids, one of which is also Amanda!

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67 veronica sandberg January 23, 2008 at 12:49 pm

I’d love to have that!

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68 Sonja Hubbard January 23, 2008 at 1:17 pm

What an awesome product!

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69 Christi January 23, 2008 at 1:43 pm

This would be PERFECT, because we too forget to give our boys allowances regularly! I would very much like to win this!

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70 Debbie Criss January 23, 2008 at 3:30 pm

I have four sons at home. This would be great as they only have one computer to share. I have a kitchen timer I set for one hour each., each day.

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71 Tamara January 23, 2008 at 4:48 pm

I have already been named “Bank of Mom” as I hold all the money for my daughter, however it would be great to allow her access to her savings to see what she can save for or how much she’s willing to spend on “frivolous” things rather than what she really wants.

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72 kristi January 23, 2008 at 5:04 pm

sounds awesome! count me in.

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73 John MacDonald January 23, 2008 at 5:28 pm

This is awesome. Great for the Granddaughters. Enter me please.

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74 kelli in the mirror January 23, 2008 at 8:12 pm

I would love to have this! My daughter definitely needs to learn more about saving.

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75 Kelle January 23, 2008 at 9:02 pm

This looks great! My kids would really like this!

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76 Jenn S. January 23, 2008 at 11:33 pm

Cool idea. We could really use this in our household.

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77 Brooke Allen January 23, 2008 at 11:42 pm

This sounds like a great program! I really want my kids to grow up and be smart about money.

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78 Diana January 24, 2008 at 12:53 am

This sounds a fantastic lesson in financial planning, and I believe the earlier, the better. I wish there had been something like this for me before I went out on my own.

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79 David Bertolo January 24, 2008 at 8:04 am

Don’t have any kids but looks like a neat idea.

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80 rachel January 24, 2008 at 9:23 am

I’ve got the same 3 problems. x 3 girls!

sounds like a great program

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81 jennifer allen January 24, 2008 at 9:26 am

Sign me up!

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82 Carol Drury January 24, 2008 at 1:47 pm

what a great prize!!!!! My youngest grandson would think this was super!!

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83 Amanda January 24, 2008 at 3:42 pm

Wow. What a great concept. One of my sons loves to buy the junk and the other will save. Both love to use the computer so what a fun way to teach them to save. Adults can use it too right??

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84 AmandaA January 24, 2008 at 9:41 pm

please enter me thanks

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85 Colleen Palat January 24, 2008 at 9:49 pm

What a great tool for kids….and even adults!

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86 sarah woods January 24, 2008 at 10:18 pm

We are all learning together. Love to win. Best of Luck to ALL who ENTER

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87 Donna Coughlin January 24, 2008 at 10:34 pm

This is great.

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88 Tara B January 25, 2008 at 12:07 am

WOW! I had no idea something like this even existed! I’m excited to try it out. I think it will work because they can actually “SEE” their progress right in front of them. Brilliant!!

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89 Tammy Piper January 25, 2008 at 9:39 am

My 10 year old can make a penny scream ~ on the other hand, my 14 and 17 year old just make me scream!!! I would love to have this to teach them a couple of lessons!!

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90 James Jenkins January 25, 2008 at 9:57 am

Wow!!

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91 Tanya January 25, 2008 at 10:28 am

DEFINATELY sign me up! I would love to do this with my children…a girl age 9 and a boy age 7 who thinks that at every store he should get something because he has been “good”. That’s what I get for bribing!!!

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92 Elizabeth G January 25, 2008 at 2:38 pm

Please enter me – thanks!

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93 Jacqueline O. January 25, 2008 at 4:47 pm

I really need this.

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94 Aimee B January 25, 2008 at 10:08 pm

Really wonderful! We’d absolutely benefit. Please enter me!

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95 kathy pease January 26, 2008 at 1:21 pm

my kids really need this

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96 Michelle Rosborough January 26, 2008 at 3:28 pm

interesting

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97 Anthony Hedden January 26, 2008 at 3:42 pm

Enter me

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98 Fruitbearer January 26, 2008 at 6:06 pm

Please enter me. Thanks!

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99 LifeofFaith January 26, 2008 at 6:17 pm

Please enter me. Thank you!

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100 JONI CHADWELL January 26, 2008 at 7:53 pm

MY GRANDKIDS NEED THIS AND SO DOES THEIR MOTHER!!!

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101 Monique Rizzo January 26, 2008 at 8:14 pm

Please enter me! Thank you.

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102 Linda Prock January 26, 2008 at 11:45 pm

This will surely take care of the “I want’s” in the stores….I would love to have this prize.

Thanks,

Linda

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103 Laura January 27, 2008 at 12:09 am
104 mary b. isaac January 27, 2008 at 11:11 am

my kids would love this!

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105 Cindi Hoppes January 27, 2008 at 4:58 pm

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

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106 Stephen Alexander January 27, 2008 at 5:05 pm

I hope my boy likes the software.

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107 Katherine Frazier January 27, 2008 at 5:11 pm

what a neat idea

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108 Lara Aleff January 27, 2008 at 6:37 pm

This would be perfect for showing teaching kids about money!

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109 Hesper Fry January 28, 2008 at 1:04 am

This looks very cool!

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110 Becky January 28, 2008 at 7:58 am

This is a fantastic idea…I’m going to download it and try it with both my 12 and 5 year old.

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111 Edward Durbin January 28, 2008 at 10:19 pm

I wish all of you the best of luck…& me toooooo LOL

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112 Tonya Lyman January 29, 2008 at 1:16 am

This would be perfect for my son. It would help him in saving for things he wants instead of buying junk!

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113 Caryn Bailey January 29, 2008 at 1:48 am

Count me in please!

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114 Angie P. January 29, 2008 at 9:24 am

This would be great to get me to be consistent with allowances, and the kids to save and see the great results.

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115 Erica G January 29, 2008 at 11:32 am

This software is genius.

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116 Carissa Davis January 29, 2008 at 12:55 pm

This sounds great!

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117 trudee January 29, 2008 at 2:23 pm

I would love to have this

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118 Christine E. January 29, 2008 at 11:39 pm

What a great idea, wish I had thought of it.

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119 Brandy January 30, 2008 at 12:56 am

How neat! Thanks for the chance to win!

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120 Tamara Leonard Merritt January 30, 2008 at 6:24 am

Thanks for the contest!

Please enter me.

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121 Elizabeth January 30, 2008 at 7:57 am

I wish I would have had this when I was a kid. Our kids today are so lucky.

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122 Patti DelValle January 30, 2008 at 11:35 am

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.

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123 Mike Paahana January 30, 2008 at 6:47 pm

you sound like my gf always everything money why you no just let things take care them self an no worrys

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124 Cassie January 30, 2008 at 7:57 pm

I would love this to use with my little girl

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125 Veronica Garrett January 31, 2008 at 12:52 am

I would love to win this for my daughter and granddaughter

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126 Terri January 31, 2008 at 3:10 am

My little niece needs this… but I don’t think it’ll keep her Mom from stealing her money.

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127 Tiffany G January 31, 2008 at 11:27 am

This is wonderful!!!

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128 Brittany Rebello January 31, 2008 at 3:23 pm

Neat Idea! Please enter me!!!

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129 Miranda Allen January 31, 2008 at 3:27 pm

please enter me thanks, freebiegoddess03@aol.com

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130 Talitha Lee January 31, 2008 at 4:26 pm

Enter me please!
airalynn@gmail.com

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131 Timothy Sternberg January 31, 2008 at 4:42 pm

Oh how neat.

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132 Michelle H. January 31, 2008 at 4:43 pm

This is great. I am sure that this would have been helpful for alot of us to learn when we were younger!

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133 Grace January 31, 2008 at 5:09 pm

Good luck!

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134 Janet M January 31, 2008 at 5:51 pm
135 Patricia Mortimer January 31, 2008 at 7:50 pm

Great learning tool

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136 Rosanne Morrison January 31, 2008 at 9:57 pm

All kids coul use something like this

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137 Marly February 4, 2009 at 2:04 pm

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

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