As a parent, I work hard to teach my children the things they will need to know to become strong, self-sufficient adults. We talk morals, and ethics and they are learning how to take care of themselves. My husband and I also know how important it is to teach them about money and more importantly money management.
Our kids know that when they get money, they are always to save some, give some and then the rest is for them to spend. They also know that what they have available to spend has to be used to pay for birthday gifts and other things that come up in their own budget. Virutal Piggy is a free online resource which can help parents (just like you) do this yourselves.
The way it works is that you set up an account. Then, you set up your children’s accounts, including the controls you have in place to help empower them to save and spend wisely. Your children can shop online but before the transaction can be approved, you can decide if you want to reject it or allow it to go through. These accounts are established for each child, so you can adjust the settings based upon their age and spending/saving limits.
One your child wants to shop, they will do so and click to check out with Virtual Piggy. They will enter their login information and then proceed to checkout. The system will check the parental controls for that child’s account and if the transaction is approved, then they will be able to make that purchase.
This is a great way to help teach kids how to be responsible when shopping online. It is simpler to watch them when they are in the store and to be right there beside them. This system allows your child a little freedom to shop independently, but you still have the ability to help ensure they make the right decisions when it comes to spending.
Head over to Virtual Piggy to learn more about this free program.