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Tuesday, August 14, 2007

Kids Learn to Manage Their Money

If you ever need ideas on how to help your kids learn how to manage their money, check out the Chores and Allowances blog. This blogger has some great ideas on how to teach your kids how to save and earn money. The author recommends prepaid teen card to help your teen learn how to work to put money on the card. By logging on to the website, and creating an account for your teen, you are creating a learning experience. You list the chores they will have to do, and then they have to log in and check them off as they are completed. You make deposits to your teen’s PAYjr. card to pay for the chores they complete, and you can both track the balances online. This is so much better than trying to teach them how keeping a balance makes them a good customer. Many kids, including mine, waste so much money as they find out the hard way that even if you only go one dollar under the balance in your account you will be charged an NSF fee. For a teen, or anyone for that matter, it is a hard lesson. Check out the blog and see what a great idea this system is.
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