How to Teach Kids Healthy Money Management Skills with a Free Online Tool

by Janice

piggy bankConfession time — I am terrible at budgeting and money management. In fact, I loathe all things that have to do with money. With that being said, it should come as no surprise that I have passed on my horrible management skills to my kids. I have yet to make it a priority to show them a skill that will definitely help them later on in life as adults.

Take for example allowances. I always forget to give Jackson an allowance. I might tell him that I am going to give him one for doing chores and such, but I just never get around to it.

I think that has a lot to do with with how my parents handled allowance with Susan and I as kids. They never gave us regular allowances. They just usually bought us what we needed–which is why I am so horrible at managing money today.

I was recently introduced to Kidworth. I am really impressed with their program and all the ways that they can help me teach healthy money management skills to my kids so that they do not have to grow up not really caring about how to manage their money better.

Did you know kids get an average of $25,000 in gifts and cash from 0-18? Yet most children have a net worth of zero when they leave home. Kidworth is designed to help kids of all ages learn financial goal setting so they leave the nest with a nest egg in place.

About Kidworth

Kidworth is a free service for parents to help teach children money management that will last a lifetime. The service allows parents to set up accounts for their children, create goals each child is working towards, and invite family and friends to help via emails, social sharing, and invites.

Now, with the holidays almost here, it is a great time to set up a Kidworth account. After you have your free account, you can invite family and friends to give gifts of financial responsibility!

This is how it works: Parents set up an account, and kids enter their goals. Whether they are saving up for guitar lessons, or a donation to the local animal shelter, Kidworth can help them achieve their dreams this holiday season, and parents will have less to stress over. Sign up for Kidworth this holiday season and give your children the best gift of all, financial responsibility.

Connect with Kidworth on twitter @Kidworth and on the Kidworth Facebook page.

Disclosure: This is a sponsored post, written by me on behalf of Kidworth. The opinions expressed are my own.

Written by Janice Croze, co-founder of 5 Minutes for Mom.
Wanna chat? Find me at: @5minutesformom, @janicecroze and Facebook.com/5minutesformom.



Email Author    |    Website About Janice

Janice is co-founder of 5 Minutes For Mom. She's been working online since 2003 and is thankful her days are full of social media, writing and photography. You can see more of her photos at janicecrozephotography.com.

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{ 1 comment… read it below or add one }

1 NancyC November 30, 2011 at 4:08 pm

Thank You!! for sharing this. I think one of the most important gifts we can give our kids is a healthy respect for money. Writing down their goals will make a significant difference and they’ll be so thankful when they’re older. Bad money management is a vicious cycle!

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