Kidnexions has developed a children’s money management program called KidsSave. I love the idea of teaching kids to manage their money while they’re young and guiding them in a way that will encourage financial success when they’re older.
From the website:
KidsSave is a kids’ savings and money management software program designed for ages 6 and up. KidsSave helps you and your child keep track of money, encourages saving through Reward incentives, and helps your child set and track goals. With KidsSave, kids can make deposits and withdrawals, receive automated allowances and Rewards (interest and/or matching funds), count money, and view their statement history over time.
The KidsSave program handles all Account management automatically so once the Account(s) has been set up, the Banker (typically the parent) has little to do. Unique features allow the Banker to have access to all Accounts, define interest, allowance, and/or matching funds, enable savings locks and require confirmations of all transactions.
Check out what some opinionated parents had to say about the program.
I am always looking for great ways to help teach my kiddos about money management. It’s important to teach them how to set financial goals and track their progress. Kidnexions has a wonderful program called KidsSave, a money management software program for the 6 and up crowd.
The account was super easy to set up and my twins have had fun tracking their savings, which to be honest, hasn’t been much. They currently do not receive allowance here at home, but they do each receive $2 whenever they loose a tooth… Something that is happening quite frequently these days! Every little bit have they added to their account, watching their balance slowly increase. It will be a happy day when they reach their financial goals!
This program has some wonderful features. Your child sets up an account by depositing his current stash. He can then make additional deposits and withdrawals, as well as receive his allowance and rewards, count his money, and view his statements. Mom and Dad act as Banker and can set KidsSave to automatically deposit allowance and rewards, including interest, so it’s easy for us, too.
Just the other day, we went through the twins current savings bank. They took turns adding bills and coins in to their KidsSave account using the money counter to help sort and count their money. They had a blast and learned so much at the same time. What a great way to reinforce what they have learned in their math classes. I love it when it works out that way!
Another feature with which we had a lot of fun was in the “What if?” section where we have played around with the endless possibilities… What if they earned this much allowance? What if they made this much in interest? It’s been neat to see what would happen should things change and what their little minds can fathom!
The Kidnexions KidsSave program would be a great addition to any money management system you currently have set up. And if your kiddos don’t currently have a plan, this would be a great place to start!
I’ve been trying out another software program for The Opinionated Parent. This one is called KidsSave from Kidnexions. It’s REALLY cool!
Designed for ages 6 and up, it helps you, and your child, keep track of THEIR money. You can also set up numerous accounts so the program is good for more than one child. There is no limit to the amount of accounts the banker (parent) can set up! It has an allowance feature that you can set to automatically show the amount that they receive each week/month.
While kids don’t actually deposit their real money, they do make deposits into the program and statements are given each month to keep track of what they’ve saved. Kids can also make withdrawals and set goals. Goals can be for saving enough to buy something, save a certain amount, or reach a certain account balance.
There is a neat money counter to help kids know exactly how much they are depositing. All they have to do is click on a picture of the bill or coin they have in hand and the money counter adds it for them. But don’t worry, there is an “undo” and “clear” feature in case they mess up!
There are 6 fun colors that kids can choose from to make their account more eye appealing. Positively Pink and Posh Purple being my girls’ favorites!
Also included is a “What If?” feature that allows your child to see what would happen to their account over a year if they were to get a raise in allowance, deposit “x” amount of money each month, withdraw money, or earn “x %” interest. I, personally, LOVE this feature. It really lets a child see what they are able to save.
We have thoroughly enjoyed using KidsSave. It is well worth the $29.95.
The KidSave program by Kidnexions is a great tool for teaching youngsters how to manage their funds. My seven-year-old son really enjoyed using the program!! We found it very user friendly and fun to use.