When I first saw that we had a chance to review FamilyMint, I must say, I got a little excited. In today’s society, it is a “want it now” environment. Everywhere you turn, commericals, ads and billboards are enticing you to go and buy. As much as I am trying to teach my kids that money doesn’t grow on trees, they think all you have to do is whip out your debit card. When you explain to them that you have to have money in the bank to be able to use the debit card, they will say, well just charge it. What they don’t understand is that if you do charge it, you will have to pay it back, with interest. FamilyMint is an excellent program to help you teach your children how to manage your money.
The Money Management Certification program was developed by two dads, out of their own need of wanting to teach their children better momeny management. Not just to open their piggy banks to spend money, but to teach them how to invest and give money as well. FamilyMint gives you all the tools you need to help teach your children how to manage and control the money on their own. It is a two month program that you really only need to spend a few minutes a day on. You have a workbook that you can work through, as well as online software that can be used. The book that you will get has a lot of great forms that you can use with your children; general savings, goals, net worth, checks and deposit slips. However, all of this info is on their online program and you can keep track of it all electronically. By the time you finish this program, your kids will be able to keep track of their money, make a budget and create goals.
Sarah making a deposit in her book.
The program is written for kids in grades 5th-8th, however I think kids as young as 6 or 7 can understand the concepts that are being taught, with maybe the exception of interest. I had originally gotten it for my 15 year old daughter who is in 9th grade. I figured it would be a great refresher course and I was right! We have worked through the book and set up her an account online. While we haven’t used the online account as much (I wanted her to work things out on paper), she is able to make a deposit, see it in her account and then see when money comes out. I love how she is also able to make goals and a savings plan. My oldest daughter and I have enjoyed this so much, that my younger two children have asked for me to set them up an account. This has turned out to be a great program for all of my children.
