Monday, October 11, 2010
Financial Savvy Site for Kids
A new website, ThreeJars.com, enables children to learn how to earn, track and use their own money online. Children may divvy up their money into three categories, or "jars" -- save, spend and share. They decide how much to store, spend and donate to charity. The site requires a yearly fee of $30 per family.
Parents set the allowance limit with each child, and on allowance payday, add money to the online total. The site tracks how much is owed and what has been paid. The site offers savings options such as "parent" bonds and certificates of deposit. With parents' approval, children withdraw cash from their personal ATM or buy gift cards from 30 select retailers. And children direct points that they earn to causes they select.
People may also register for a free daily e-mail with financial tips atThreeJars.com. This info was reported by....
-Sandra Guy- Chicago Sun Times