Giveaway: FamZoo Preparing Kids for the “Wild”

If you have read my blog for awhile, you will know that I am a big proponent of budgeting and financial planning. Spending the last 12 years in the finance world, I have learned that many adults just don’t know how to save or do even basic financial planning. I think this due to a lack of education about personal finance.  Our school’s miss this throughout our primary education.

As parents we have the huge task of educating our children about personal finance. I truly believe it needs to start when children are very young.  Learning to manage your money when you are a child, can be truly life changing.  When I learned about the new program FamZoo, I was so excited that someone was addressing this issue.  FamZoo is a new Virtual Bank account for kids, that allows parents to help children learn how to be responsible with their money and moderate spending.

So how does it work?

You can set up an account for each of your children. Instead of paying you child in a $5.00 bill, you set up the allowance to automatically go into the account each week.   You can also set up automatically for charitable giving or if your child has a reoccurring expenses to have it automatically come out. What a great way to encourage and teach philanthropy.

You can also teach your children how to have saving goals. So instead of hearing Mommy can I buy this, your child can know how much they have to save each week to reach a goal.

In addition, there is a chore management system and much more. I am excited to be using this program with Evan and hope you will love it too!  You can give it a whirl over on FamZoo by signing up for their free 2 month trial here. If you want to see FamZoo in action, you can check it out here.

One reader will win a membership to FamZoo  and a $10.00 in paypal cash to get your child savings started!

To enter, simply leave me a comment telling me what you would like most about FamZoo. For bonus entries, you can check out FamZoo on Twitter or Facebook.

Rules: Open to U.S. Residents, 18 years & Older. Giveaway ends 05/02/10 at 11:59pm. Winners will be notified via email. Winner is responsible for responding within 24 hours or a new winner will be picked. If you don’t respond, you will not be eligible.

This giveaway is sponsored by FamZoo and all prizes and compensation is provided by FamZoo.

This post may contain affiliate links. Read my disclosure policy here