The number one problem in today's generation and economy is the lack of financial literacy.
Ann Arbor, MI (PRWEB) September 30, 2011
“The number one problem in today's generation and economy is the lack of financial literacy.” ~Alan Greenspan
Dow Chemical Employees' Credit Union is proud to take financial responsibility to a new level by partnering with FamilyMint, an award-winning online money management application that helps parents raise money-smart kids. The FamilyMint application is the modern replacement for the piggybank. FamilyMint provides enduring financial literacy by allowing kids to learn by doing and build financially sound habits that will last them a lifetime.
Kids 6 to 16 set financial goals, manage and track their money, and develop sound financial habits during their formative years. The parent acts as the banker and holds the money while FamilyMint acts both as a 3rd party guiding core savings habits and as a tracking system. FamilyMint simplifies parents’ lives by automating allowance and allowing them to encourage their kids to save with motivating interest rates and matching deposits for worthwhile goals similar to a 401K.
According to The Hartford Financial Services Group, Inc., nearly 72% of the parents surveyed acknowledged that they are their children’s primary source of personal finance education, although 44% admit to needing more guidance on how to best teach their children the skills necessary to become financially responsible and successful adults.
This is where FamilyMint can help. The idea was created by two dads, Jeff Eusebio and Bob Masterson, who were frustrated with the existing tools in the marketplace for teaching sound money management skills earlier in life and helping their own kids appreciate money. “Our goal was to develop an intuitive tool that parents can easily work into busy schedules and that visually shows kids how their money can work for them,” says Masterson, FamilyMint President and Co-Founder. “What’s different about FamilyMint is that the children are in the drivers’ seats organizing their money, establishing goals and working to achieve them.”
“Based on a survey of our users, parents are consistently seeing a shift in their children’s thinking from the desire to spend to a curiosity about and excitement in saving,” Eusebio added. “It is both a source of pride for the kids and a relief to the parents. We are excited to be partnering with DCECU because of their extensive community focus, and we know FamilyMint will be a great enhancement to DCECU educational and youth programs.”
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