Family Mint Review
Did you know that in less than 10 minutes you can start teaching your children the importance of wise financial handling? Family Mint has provided a family-friendly and easy to use resource for this very thing. While I was not really able to use this for my family as my children are too young I think this is a great tool that I will definitely use when they are older.
Just what is Family Mint? Family Mint is an online website whose purpose is to provide parents (“bankers”) a way to help their children handle allowances and other earnings. Through the parent interface you can create users – your children – and transfer, withdraw, and deposit earnings and record accordingly. I played around a bit with it and found it very simple to use. Through a few short clicks I was able to update transactions and apply notes to each change in accounts.
By the way, if banks designed their websites to be as easy to use as this program they would have some very happy online banking customers. Just sayin’.
Each child can also create a goal and savings plan. If your child is saving up for new earrings like my Sally is, they can create a detailed plan on how to achieve that goal. The program will automatically calculate for me how much she would need to save weekly based on the start and end dates I would input. The parent can also do a percentage-based matching program if they decide that they are going to financially assist in these goals.
This plan is great for older children. I highly recommend it, especially with the generally lack of financial education provided our children in these times. A strong background in money management will serve the next generation well and I really think Family Mint provides a solid answer to this.
The best part is this. If you are wondering just how much this is going to set you back, well. . . it won’t set you back a dime! As of now, the Family Mint website is free (though they are going to add a paid PRO version at some point.) What better reason do you need to check this out?