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Tool For Tracking Children's Allowances Online

Monitor Your Children's Allowances Like Citibank Millionaires

Citibank recently launched one of the latest web tools for the fabulously wealthy: an online system called Spend Grow Give that monitors their kids' allowances. It's a strategy that aims to capture a chunk of the millionaire heir market. By getting them involved at a young age, the bank is hoping this will ensure the heir's loyalty even after he or she reaches adulthood.

The good news is you don't have to be a millionaire to track your children's money the techie way. I found a pretty nifty downloadable program called KidsSave that costs $19.95. Unfortunately, it's not a website, but you can try it free for 35 days to see if you like it. You can set up accounts for your children, enable saving locks, and even create interest rates for their allowance. Judging by the fun buttons and bright colors, it seems to be pretty kid-friendly!

Parents find negotiation for cars and talking to their children about finances to be equally stressful, according to a new poll by PASS from American Express. Perhaps using a program like this is a great way of introducing the topic!

Image Source: Thinkstock
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sldc sldc 6 years
*you can create from your computer at home
sldc sldc 6 years
*you can create from your computer at home
sldc sldc 6 years
Citibank is still evil. Use credit unions! Most have kid savings accounts (for free that you can credit from your computer at home) and lots of information for kids and their parents about learning good money habits.
RosaDilia RosaDilia 6 years
When I started giving my son allowance I bought him a ledger so that he can track his savings and expenses. He did well for a few months and slowly started not keeping track of his allowance. Now, I can't convince him to keep track of his saved allowance because the minute he receives his allowance it all goes to video games. I'm going to look into the kidsave software, maybe if I download it onto his laptop it will motivate him to start saving again.
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