There's good news and there's bad news. First, the bad news: If it hasn't already happened, there will be a day when your kid puts away Barbie forever, and will want to upgrade to highly technical (and highly priced) toys like iPods, iPads and iPhones. The situation can get crazy expensive if you have more than one child who are both close in age who want the same thing. Dream on, they won't want to share. And wait for it...you, too, were plotting to gift yourself that same shiny, must-have tech toy your kids are jonesing for.
Things just got real!
Now, the good news. Try to see the good in your kids wanting bigger and better things. Yes, there is some good in this. It opens the door for a teaching opportunity. A critical one. We all want our kids to grow into fiscally responsible adults, and VirtualPiggy.com can help us parents make that happen in a way that both parents and kids will love.
Virtual Piggy, created by a mom concerned about keeping her kids safe online, is said to be like the PayPal for kids. Through the parent account, or what I like to think of as the mother ship of the whole system, you manage your child's account by setting allowance amounts, spending limits, payment preferences and shipping options to name a few of the controls you as a parent will have. Then, your child does the shopping! You even have the control here as kids can only shop from merchants that you okay, and all purchases must be approved by you in the amounts you specify.
While the parent is always in control, it's through the child dashboard that your kid can check available funds, money spent and--the best part--money saved. Kids are literally managing their own money, a key skill for successful adulthood. The child dash is where your kid is allowed to be a little grown-up. It's just like Virtual Piggy's tagline says: Youth empowered, parent approved.
For all that you get through Virtual Piggy, it's 100% FREE to use! Virtual Piggy is also available on the APP store and on Google Play for the mobile convenience your family needs.
Virtual Piggy seems more than a family money management system that lets kids make purchases safely online with the security parents can be sure of. It also seems to be a learning system for teaching kids financial responsibility. And that's A Woman'$ Worth approved!
What tool(s) do you use to manage your kid's allowance?