Thursday, April 15, 2010
TOS Crew Review: Family Mint
Many children are not being taught how to save and manage their money. They don't have motivation to save and quickly spend what they get. This program seeks to instill proper use of money and to manage it so they can learn how not to go into debt when they want something. They can use an envelope type system so they can put their money into different categories to save.
This program currently is free in its "Alpha" form. This online program sets mom (or whoever is the designee - like dad :-) up as the bank - the keeper of the money. This is a virtual bank, so no money actually is stored anywhere, except in mom's possession. So no one can hack your "computer" and take your money.
You can set your bank up to accumulate interest and match deposits to certain funds, such as college. I like that you can categorize the money to go to different areas. For example if the child is saving for a new MP3 Player, they can put money directly towards that in the bank. If they want to tithe money, they can have a separate section for that.
Children can access the program to make changes to their accounts which the parents must approve. There are videos demonstrating this once you sign up for the free program. The program is quick and easy to learn and set up. It should take less then 10 minutes to do so.
To learn more visit THE FAMILY MINT by Clicking HERE.