Thursday, April 1, 2010

Family Mint – TOS review

Are you looking for a way to teach your children the responsibility of money management?  Family Mint is an online program that will help you on your way to teaching your children about saving their money for a rainy day.

Our family tries to stick to a budget but I find it very hard.  I have had my kids ask me on more than one occasion for things we can’t afford.  They say I can just go to the ATM and get some money.  They have no concept of how that money gets in the ATM.   Family Mint is a way to begin teaching them about earning and saving money for themselves.  Oh how I wish I had been exposed to this as a child or teenager. 

Their secure website allows you set up accounts for each of your children.  You can then give them “virtual” money to watch grow as time goes by.  Of course, you can actually give them the real money if you would like to at certain predetermined intervals.  They can deposit and withdraw money and learn all about how banking works.  Everything is accessible from only two screens so it is easy to use and understand.  Kids log in themselves and manage their own money within FamilyMint.  FamilyMint is meant to be a place for children to learn by doing.

image There are also two different levels for younger and more mature children.   If you give your children an allowance, you can automatically set it to go into their Family Mint account.  My kids got kind of aggravated because we were just pretending with these accounts and they wanted the real money.   I would like to try to use this with a real incentive program  (and real money) for chores and attitudes in the near future.   I will deposit money for chores finished and deduct for bad attitudes and unfinished items.  Hopefully this will help them learn that their attitudes are an important part of life and bad ones affect more than just how our days go.


The automatic interest feature is great to teach kids how savings can really add up.  Dave Ramsey teaches that if you save for a set number of years monthly and never add another dime to it after those years are up, you will be a millionaire by the time you retire.  This is all because of interest.   It is amazing to learn Family Mint would be a great way to reiterate this (especially if you actually do the saving).  

So, if you would like a way to teach your children about the importance of saving, Family Mint is a great way to do this. 

Oh yeah, did I mention it’s FREE.  You have nothing to lose and a lot (perhaps a lot of money) to gain!!  Go to to get started today. 

Please read what the other crew members have to say about Family Mint by visiting here. 

** Please note that this review was done for the TOS crew.  No compensation was provided to me.  I have given my honest opinion in this review.   Thank you Family Mint and TOS for this opportunity. 

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