To teach kids how to save, they learn to use the Money Board, as well as the Rebalancing feature to keep tabs on their on-screen allowance so that they can spend it wisely. Rebalancing follows the old bank rules of living within your means as a basis for managing your money, so kids can now easily monitor their spending progress. The Rebalancing feature will help users keep track of how much money they have and what they've spent, even when their parents are not around. When users add money to their Money Board, their balance reaches the goal at the top of the Screen. Once there, users can either save, spend, or save and spend. The latter option will let kids monitor while they use up their money.
Being able to manage all of their money is the foundation for building good financial habits. Money can be used to help kids budget for what they want and need during the school year, saving and spending responsibly as part of the Annual Savings Challenge. This tool will allow kids to review their Savings Challenge progress on their Family Tree during the summer.
Mint is the free personal finance app built to help you manage your money. It also offers budgeting, bill-paying, and investing tools to help you set and achieve your goals financially. The Mint My Money feature allows you to see your net worth in an easy-to-read, visually compelling chart. With one glance, you can quickly spot purchases – large or small – that can eat away at your savings or lead to financial goals before their time.
For kids, Mint is a dashboard – a quick way to see your accounts, set goals, and make budgeting decisions. You can quickly compare your cash flow to your budget. Mint's easy-to-read charts show key spending areas and a snapshot of your purchases. This visual overview lets kids spot any transactions or categories that are potentially out of control. They can change their behavior instantly, whether it be from saving more money or spending less. d2c66b5586