Children grasp the concept of spending money and consumerism at a fairly early age -- and we have the media to thank for this! We see the effects today in a consumer-driven society bent on keeping up with the Jones’s. To undo some of this influence, it is often best to to start with the basics. We must crawl before we can walk, add before we can multiply, and in the simplest terms, save before we can spend.
Most people don't have issues with the first two, but we were having a heck of time trying to teach the third to our own kids. This is why we created FamilyMint: out of a need we had within our own families. As our kids were getting older, we were seeing how much help they really needed when it came to money. Oh, we talked with them about wants and needs and the importance of saving and not spending every dime they had. Most of this sage advice, it seemed, just went in one ear and out the other.
We also noticed a general careless and lackadaisical attitude about how they kept their money. Their money was lying in sock drawers, piggy banks and under the bed, with no real idea about how much money they had in total. It just wasn’t visible to them. And they wanted to spend all of it all the time! They needed a better way to see their money, prioritize their wants vs. needs, and visualize their goals... and we needed something that would make our lives easier as parents.
With this came our mission to help kids develop key money management habits that will last them a lifetime. The birth of FamilyMint back in 2009. We believed the best way to teach kids about money management was to allow them, in a hands-on way, to see where their money was coming from, where it was going and ultimately, what they wanted to do with it in the future.
We wanted our kids to take ownership of their money along with their wants and needs. Aristotle said “What we need to learn, we learn by doing”, and FamilyMint was built from the ground up around this principle.
We believe the best teacher is experience, and with FamilyMint kids learn by setting and working to achieve goals they create themselves. By moving away from traditional piggy banks to a virtual, online application, parents and kids can interact with money in a way they never could before. FamilyMint is designed around how children think and learn today. Because it is so visual and interactive, kids learn from without even realizing they are learning. And not only are they learning, they are developing habits that will benefit them the rest of their lives