New Online Tool – Allowance Manager
New Online Tool
Allowance Manager is a free online tool for parents to manage a child’s allowance online. Set and monitor allowance, create incentives for kids and reward good behavior – and track it all in one place. It is a tool that can help parents in teaching kids about money – and if tied to chores, about responsibility and accountability.
What to Do:
Before you can track anything, you will be asked to set up a parent’s account and then your child’s account. These accounts are free and it’s just you recording the allowance payments made to your child and why they ‘withdrew’ their money. It’s really easy to set up. Kids can log in and look to where they are in terms of allowance and extra cash! (But only the parent can add or edit entries!)
The Allowance Manager also can help you determine how much allowance to give your child based on the chores you have assigned them! Print out the Chore Chart and complete it for your kids. Simply write the chore on the left and check off if it’s been done and on what day. You can use it as a tool to discuss where your kids are doing very well and where they may need a little help. Plus it also allows you to give money to your child for doing extra chores (raking leaves, washing the car, etc.).
Like any tool, it is only as good as the user. At first glance this system may seem impersonal, but it’s a tool that can give you an opportunity to discuss accountability and financial responsibility. If your child is spending money on things you believe do not help reach set goals (bike, new iPod, special camp, etc.), you can sit down and discuss the choices your child has made and the impact it makes on reaching that goal.
Give Allowance Manager a try – it’s Free – and let us know what YOU think.
Disclosure: This is sponsored content and we have been paid to do this post. That being said, we do not blog about anything we do not believe in and Allowance Manger did not edit our post or direct our content in any way.