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Teach Your Kids About Money

Have you looked for a way to teach your kids about money?  With Caitlin turning 14 soon, now is the time to build a foundation for fiscal responsibility. In a few years she will be able to get a job and she willn a regular paycheck, so she needs to know how to handle that money For Henry, we will teach him as well, although with his autism, we have no way to predict if he will be able to hold down a job and learn about budgeting his money as well.

Tykoon ScreenshotTykoon is an AMAZING free online program that teaches your kids about working, earning and how to distribute their money.  At Tykoon’s parent’s dashboard, you will set up the parameters of the kids accounts quickly and easily.  You will set up each child’s account, choose their allowance, chores and how to divide their money into save/give/spend categories.  The chores can be chosen from a suggested list or you can input your own.  Once that is complete, you can choose the rewards for each chore,  which can be money or increments of time they can cash in to do things they enjoy.  If your kids have an iPhone, iPod or iPad, they can download the “Spotted app” so they can keep Tykoon with them everywhere they go.
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Help Your Kids Earn Rewards

The Tykoon program can help your kids earn rewards, financial planning and giving to those in need. Tykoon has partnered with Amazon to provide a store the kids can buy cool stuff from.   When the kids  “purchase” and item, the cost is debited from the parent’s preferred payment as well as the kids “banked” allowance.  To encourage parents to share the Tykoon program with other families, Tykoon has created the “5 friends” offer, which is if you invite 5 friends to sign up and if they stay on for one month, you will get a $25 Amazon gift card. I LOVE that

The kids had a lot of fun setting up their accounts and choosing their chores.  I loved that the Tykoon system paved the way for me to talk openly about money.  I shared mistakes I had made with money and the consequences in hopes they will learn from me and not repeat them.  The Tykoon program is awesome because the kids can see their activity on the computer screen and they have invested ownership into the program.  I am really excited about using Tykoon every week!

“I participated in a campaign on behalf of Mom Central Consulting for Tykoon. I received a promotional item as a thank-you for participating.”