Wednesday, March 31, 2010

Review - Family Mint - Learning about Money for Kids

TOS Crew Review
Product: Family Mint - Online program


Family Mint is designed to help children appreciate money. This is how it works:

1. You, as the parent, set up a simulated bank account. Next, you get to name your own bank and set up accounts for your children. (Note: These are not "real" accounts, only an educational tool.)

2. Decide how much income your children will receive and how often they will get paid. (This can all be pretend money!!)

The children can log into their own accounts, set up savings goals, learn about interest rates, transactions, and much more.

4. The program helps to motivate them to reach savings goals and helps them set up a plan to reach those goals.

From the website:

"Parents don't want their children to end up being one of these statistics...

* 18 - 24 year olds are the fastest growing age group filing for bankruptcy
* Only 5% of adults learned the vital life skill of money management in elementary or high school."

Family Mint was created to help educate children to be financially wise. This is a fun, easy-to-use program.

My Thoughts:

I have handled our family finances since the beginning of my marriage. I have taught my children about money, budgeting, etc. However, there are always new things to learn - the rise of easy credit, loan scams, new types of investments, etc. It is very important that we train our children all about money. I think Family Mint is an exciting resource that many families will find beneficial.

To find out more about my reviews, please visit "Introduction to our Homeschool Parlor"

*I was given access to this product from Family Mint for review purposes through The Old Schoolhouse Magazine Crew Team.*