Spending money on kids is expensive. Every trip to the store can turn into begging for one more pack of gum or new toy. But what if they managed their own money for all that stuff instead?
The idea of allowance for children is not new. People have been giving children money each month for generations. Kids get to pick where to spend it and if they run out... tough taco. It's a fantastic way for them to manage money. This is an invaluable skill to teach them from a young age. But in years past it's been a little difficult to manage.
In this episode we have the privilege of speaking with Bill Dwight of the FamZoo allowance management software. He has put together a great web application that solves the problem managing for you. With pre-paid cards and customizable interest rates for saving, this is a fantastic program to get your kids off on the right foot.
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