Helping kids appreciate money
Teaching kids about money doesn’t have to be a difficult task if you simply build the process into your normal day-to-day activities. You can start the process with children as young as two years old. Here is an age-by-age guide to teaching money milestones to kids.
Read MoreAccording to Lewis Mandell, a professor of finance at the University of Washington who recently studied more than 50 years’ worth of allowance research, “The kids who receive [a regular, unconditional] allowance tend to think far less about money in general.” He also said “Those children appear more likely to grow up to be ‘slackers,’ since they aren't learning to associate work with money.”
Read MoreWe get many testimonials on the ease of use of FamilyMint, so we're very careful about adding features that add complexity that may not be used by a large portion of our user base. Many FamilyMint families have indicated that they actually prefer to track chores manually / outside of an online application. The chore tracking and maintenance implementations we've seen online are anything but simple, and in our estimation, actually seem to cause more work in the end vs. simple manual methods. This is one area where technology hasn't yielded a better result.
In line with keeping things simple... we thought we’d share what we do personally in our own families in hopes you might find it useful.
Read MoreOne of the best ways for children to learn the essential life skill of money management is for them to earn and be responsible for their own money. The following are some great money making ideas for children and young adults. Keep in mind that some of the suggestions are better suited for older children while others are suitable for younger children.
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