This blog post is sponsored content on behalf of BusyKid. All opinions or experiences expressed are that of my own.
I am all about teaching kids money management skills. As a single mom for most of the firstborn child’s life, I was a master at budgeting and making sure that the little money I made lasted a long time. While she may have better money management skills due to seeing me be super strict on a budget for most of her life, the boys haven’t had that same experience. As a mom to a teenager, an Asperger’s boy and a hyper boy; it’s important for me to find tools that work to teach them how to develop good financial skills. I want nothing more than to teach them how to work smarter and budget so that they can excel financially in their adult life.
I recently heard about BusyKid, this app that allows parents to give stock versus gifts this holiday season! I know, I know, surely you are wondering what in the world a kid would need with stock at the age of 10 or even 3? Well, there’s more to it, let me share more details with you.
123
Important FYI’s for Parents
- Price is now $14.95 for the entire family
- They are introducing the BusyKid Spend Card, a reloadable Visa® prepaid card, where kids can move their allowance in order to spend in stores or online
- For a limited time, 2 kids of each new family will receive a free $10 stock. We want kids to learn how to invest so we decided to give them their first experience in dealing with the stock market.
How Does BusyKid Work?
Oh gosh, this a super easy app to use. I am not even kidding! So you sign up, set chores, set prices for chores and then the kids do the work. Ah, I love the sound of that. Every Friday the kids get to earn their allowance. At this point they can invest it in stock, they can have it as cash, they can spend it, whatever they desire. Use BusyKid to teach your kids how to invest, save and spend money easily. This is by far the best gift this holiday season because it helps to keep your home clean, the kids learning skills that they need as adults and parents to not get a headache trying to nag kids.
Why Kids Need Financial Guidance at Home
Basic financial topics such as saving, investing, budgeting, credit, taxes, loans should be taught with the same importance as reading, writing, math and science in our schools. It’s not the fault of teachers, but we aren’t preparing our children properly to face a world of hard financial decisions. In a recent study, the majority of parents received a grade of C or worse when it came to understanding basic finance. When questioned, about 80% of parents agreed that paying a child this weekly allowance as a great way to teach their kids money management.
You don’t need to pay your kids $5 a chore, with BusyKid you can easily assign the price per chore and let the kids earn a little bit. Heck, my trio only earns about $2 per week on average and they are mopping floors, vacuuming, taking the trash out, loading and unloading dishwasher; just to name a few things. The house is cleaner and my 3 kids are actually discussing good money spending habits between the three of them, it’s rather cool to witness how BusyKid can help inspire siblings to discuss finances and learn from each other.
So what are you waiting for? Parents … go on buy stock, not gifts this holiday season so that your child can be set up for financial success in their adult life.
Check out BusyKid online and be sure to connect with their social media accounts to stay up to date with their latest information.