Disclosure: How Will Your Kids Learn To Manage Money? is a sponsored post written by me. All opinions are mine and may differ from yours.
Kids and money
Do you remember earning an allowance? I do. I’ll never forget when my allowance went up to $10 every two weeks. That was a huge deal! I have no idea how old I was, but I do remember being in the dining room when my dad told us girls that we were getting an allowance increase. It was way back in the eighties though. I know, I’m ancient.
If your kids earn an allowance, you probably give them actual money though you pay for most things with a card.
Learning to Manage Money
Our society is basically a cashless society, but kids still learn about money with coins and paper money. How many of us actually carry much cash around now? I usually have less than $20 on me. Somehow, we’ve got to teach our kids to manage money online and with a card.
By the time our kids are adults, they’ve got to know how to handle their finances. They most likely won’t learn it in school. In the US, only 7 states require high school students to pass a basic finance test in order to graduate. How can we easily teach our kids to manage money? Check out BusyKid.
BusyKid Spend Card
The BusyKid Spend Card is a reloadable Visa® prepaid card, where parents can deposit the allowance their child earns. The child can then spend in stores or online. You child can also invest in stock, donate to charities or buy gift cards with the app, all with your approval. The BusyKid app gives you chore suggestions based on your child’s age. You can then pay them either the suggested amount for the chore or whatever amount you wish. I think that this is such a great way to teach your kids about responsibility as well as charitable giving at a young age. Children can do simple chores, such as picking up toys, when they are very young. Of course, when they are 3 or 4, they won’t be spending the money by themselves yet, but they’ll still be learning important lessons.
Gregg Murset
Gregg Murset is the CEO of BusyKid. This is what he had to say about the creation of BusyKid.
“We created BusyKid because our children need to start experiencing the real world earlier when it comes to the basic financial practices of earning, saving, spending, sharing and investing. As adults we don’t get rewarded with TV time, computer time, stickers, stars or ice cream. Why should we do this with our kids? Eventually, they need to learn the importance of money.”
It’s true. If kids don’t learn how to manage their money from us, it is likely the won’t manage their money well. Having the option to save, invest, give and spend teaches children such important aspects of being good stewards of their money.
Try BusyKid
BusyKid is only $14.95 a year for the entire family no matter how many kids you have! For a limited time, 2 kids from each new family will receive a free $10 stock. BusyKid wants kids to learn how to invest, so they decided to give them their first experience in dealing with the stock market. I think this is so awesome. It all starts somewhere! Learn more and sign up on the BusyKid website.
I like that there are a lot of ways that my kids can manage, spend or save their money. I’m really interested in trying out this app. Thanks for sharing.