I’m partnering with FamZoo because it’s an educational powerhouse for your kids!
One of the prime responsibilities of parenting is to develop financially capable children. When it comes to money we want them to be competent and confident. Based on my research and personal experience, the most effective way to get there is through an understanding of basic economic principles, their practical application to personal finance and practice, practice and more practice. FamZoo combines these elements in an elegant, fun and easy-to-use virtual family bank.
Your kids will learn how to choose wisely, how to set goals and how to reach them. They will learn problem solving, improve their communication skills, working within a group and much more. They will get lots of practice.
It works like this… FamZoo starts with a discussion between the banker (parents) and account holder (the child) where decisions are made as to allowance and how to allocate that ongoing allowance (scarce resource) between different virtual bank accounts and goals. From the get go fundamental economic principles and their application to personal finance come into play in a way that your children get to work and manipulate them in a safe environment.
I could go on and on, but I want you to get the full experience.