After years of me preaching, ‘Spend your money wisely. Don't buy that junk. Think about where you are spending your money!’ FamilyMint SHOWED the boys exactly all those things in the matter of a few weeks.
Rochester, MI (PRWEB) September 16, 2010
The Mom's Choice Awards® has named FamilyMint.com among the best in family-friendly media, products and services with the Mom's Choice Gold Award.
FamilyMint is an online application that provides money management for kids where parents act as the bank. It provides the simplest way for kids to track all their money and goals. Kids take charge of their money and are empowered to take responsibility for and manage their dollars wisely. FamilyMint makes money come alive for the kids for the first time as they see all of their money and goals before them, giving kids a whole new perspective on money.
Lori Lynn tried FamilyMint with her kids and wrote, “After years of me preaching, ‘Spend your money wisely. Don't buy that junk. Think about where you are spending your money!’ FamilyMint SHOWED the boys exactly all those things in the matter of a few weeks.”
Mom’s Choice Awards is an organization that evaluates online resources and products each year, and recognizes the very top tier with gold and silver awards. MCA judges are bound by a strict code of ethics which ensures expert and objective analysis free from any manufacturer association. The Mom’s Choice Awards® is known for establishing the benchmark of excellence in family-friendly media, products and services. Parents rely on their evaluations when selecting quality materials for children and families. The Mom’s Choice Awards® seal helps families navigate the vast array of products and services, make informed decisions, and find the best of the best.
FamilyMint helps build money-smart kids and makes parents and kids lives easier by:
- Automating allowance - no more hunting for the correct change or forgetting to pay all together. This sets an example that it’s always good to pay your bills on time and that money is a limited resource.
- Mimicking a real online bank - prepares kids for the future
- Providing motivation to save in new ways
o Give your kids 5, 10, or 15% interest to encourage them to save and learn how to really appreciate their money.
o Match savings goals dollar for dollar like a 401K that you really want your kids to save for...such as college.
- Lock accounts - so kids can make deposits but not withdraws
- Teaching the value of giving - FamilyMint is a great tool for instilling the virtue of charity and providing teachable moments about the good in giving. By creating a charity goal, a constant visual reminder is present to the child every time they log in.
- Savings goals become alive and visual - Kids can create and track as many goals as they like. The simple fact of creating a goal is the first step in accomplishing it.
- Deflecting the 'wants' - how often do parents hear "Can I have $20”? FamilyMint helps end the nagging and whining by becoming the unbiased third party. Instead of handing over $20, simply ask your child if they have the money saved in their FamilyMint account first. The children take the reins of their own finances and enjoy their new found responsibility.
- Making all transactions electronic
o No more hunting around for exact change
o A whole new way in giving and tracking rewards
o Track where money came from and where it went
o Kids are put in charge of their saving and spending
o Budgeting becomes a natural event, not a burden
o Increases the desire for kids to save
For more information on the awards program and the honorees, visit MomsChoiceAwards.com
For more on FamilyMint or to register, visit: http://www.familymint.com/
# # #