Teaching kids about money is a tricky process, as we are discovering with our 5-year-old. The problem goes beyond his burning desires, which this month are for Yu-Gi-Oh! cards. It's also tough to remember the weekly allowance, much less lessons on budgeting and saving. So I checked out a Web service launched this week by Intuit, the company that sells personal finance software.
Quicken Kids and Money isn't the only site helping teach kids about money, but it's the slickest I've seen, as well as the most thorough and most expensive ($100 a year). There are guides on many topics, including budgeting and whether the cash should be tied to chores. You can establish profiles for each child (the service is aimed at 5-to-8-year-olds), set up reminders, and connect with other parents in forums, as well as pose E-mail questions to experts. Webcasts also feature topics like "Understanding your child's temperament."
The service comes with a set of plastic packets for dividing an allowance into cash, savings and charity, as well as a paperback book, Money Doesn't Grow on Trees by Neale S. Godfrey, that offers yet more guidance.
Whew. A substantial package, and maybe more substance than I need or want on the topic, especially at the price. But worth checking out–there is a 60-day money-back guarantee.
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Ncslqcvw of MS 4:22AM July 16, 2009