Parents manage allowance and chores, and kids learn abut saving, earning, and giving responsibly.
Hey, Check Out FamZoo, the Smart Debit Card for Kids.
I use it to help teach my kids how to be smart with money. There are options for getting paid for doing chores, making savings goals for various wants/needs and instant transfer to and from the parent’s account.
Check Out All the Ways We’ve Used the FamZoo Card with My Family
1. We went to Disney World and each of our 6 kids had a Famzoo Card with NO money on it. We kept them engaged looking for hidden Mickeys or certain characters (Winnie the Pooh was an extra $10 of souvenir money, and asking a cast member in Pandora for their back story was $15).
2. We are able to monitor where our kids are spending their money. Our high schooler spent $100 on a site called “giant teddy bears dot com.” It was easy to find out that he was dating, and my husband had a fun time razzing him a bit.
3. We make our kids buy dinner when we go out to eat. We transfer the money to their accounts, but they pay with their card and calculate the tip.
4. We set up savings goals for things our kids need and the things they want. My 9-year-old is so proud of herself because she’s already saving for a car and for a house. She tells everyone she’s saving for a house. She may only have a little right now, but if she keeps it up she may have a downpayment to buy her own place when she moves out!