SavvySugar

Monitor Your Children's Allowances Like Citibank Millionaires

SavvySugar — Fri, 20 Aug 2010 13:00:37 PDT

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!

Does Abigail Breslin Earn More Allowance Than You Did?

SavvySugar — Tue, 30 Jun 2009 08:30:55 PDT

She may hold a place on Forbes' Young Hollywood's Top-Earning Stars list, but Abigail Breslin has to earn her allowance like any other kid. The My Sister's Keeper actress celebrated her thirteenth birthday in April, and in her house that meant her allowance increased by $1. She earns her age in weekly allowance, and the chores she must fulfill for the $13 might sound familiar to what you had to do as a kid. Abigail described her duties to People magazine and said,

My chores have gotten a little heavier. My brother used to always to feed the cat and now I feed the cat, which isn't a big deal, but it kind of is, because my cat eats tons. It's like an all-day long cycle.

What chores did you have to do growing up? And did you get an allowance for completing them?

Tell Mommy: Do Your Kids Have a Budget?

babysugar — Sat, 01 Nov 2008 05:00:00 PDT

Suze Orman may be the money guru of today, but sometimes I think she took a page from my parents' handbook on raising financially responsible children. Growing up, my folks paid us for hard work done around the house and allowed us to spend it how we wanted. My chores included cleaning my room, making my bed, helping with dinner, doing dishes, and other things that eased the burden on my mom and step-dad. As we grew older, my sister and I had to set up a budget for our monthly expenditures. Based on our needs and wants, our parents devised a monthly allowance for us. It taught us both that perhaps a Polo shirt wasn't as necessary as the cheaper version available at Target.

Tell mommy, do your kids have a budget?
Source

Your Two Cents: Did You Get Money For Good Grades?

SavvySugar — Wed, 27 Aug 2008 06:30:17 PDT

It's back-to-school time, and most middle school students in Washington, D.C., are entering with new motivation to do well in school. The district is testing a new incentive program that rewards kids with money for getting good grades, and they could earn up to $100 per month.

While my parents didn't use money to motivate me to get good grades, many of my friends' parents paid them for doing well in school. Did your parents use money to motivate you?

Source

Guess Who? Always Trying to Save

SavvySugar — Tue, 12 Aug 2008 11:00:48 PDT

"I paid for my cheerleading and everything [by working at Wendy's for six years]. It was like whatever you want to do outside of school, you have to pay for it. I never had a car because I was always trying to save."

Do Your Kids Earn an Allowance?

LilSugar — Mon, 02 Jun 2008 05:00:28 PDT

My daughter loves slipping crisp bills into her purse. On a recent outing, we stopped for lunch and when the check came, she announced, "I'll pay! I'll pay! It's MY treat!" At four, her cash flow comes more from her dollar gifting Grandpa then from accomplishing chores. That's not to say that she doesn't pitch in a hand around the house, but at this stage in the game we aren't doling out an allowance or teaching her financial responsibility.

Do you give your kids one?

Source

Your Two Cents: When Should Kids Stop Getting Allowance?

SavvySugar — Thu, 22 May 2008 08:17:18 PDT

If you watched Gossip Girl this season you probably noticed the characters' drool-worthy clothes, gadgets, limos and upper-crusty lifestyles don't come cheap. Even though it's pure fiction, the show's depiction of a pack of wealthy New York City teenagers raises some questions about our culture's financial ideals and expectations. Namely, how much money should children and teenagers be given and what kind of monthly allowance are these teenagers getting? Giving children a weekly allowance can be a useful way to begin teaching them about the cost of living, but when should you stop giving your children allowance?

Photo courtesy of the CW

Dress Up Your Home in Geek Pride All Year Long

Kelly Schwarze — Fri, 25 May 2012 16:27:57 PDT

In celebrating Geek Pride Day, we noticed that our own homes could use a bit of Spring geek-ifying. No, we're not talking the latest HDTV or WiFi stereo - just some low-key and quirky essentials to make a normal-seeming abode into a home that speaks to our sci-fi and tech passions. Take a look at our housewares finds, and yes, you are allowed to go crazy for that iMac lamp!

9 Ways to Earn Extra Cash When Money Is Tight

Wise Bread — Thu, 24 May 2012 11:51:58 PDT

I'm sure everyone can do with a little more cash in their wallets. Here are some great suggestions by Wise Bread for you to make extra money.

Even though I'm self-employed full-time, I'm always looking for new and exciting ways to make more money.

Earlier this year, I wrote a Wise Bread post on websites that can help you earn extra cash. More recently, I came across a blog post on Zaarly titled, "10 Ways to Make Money Without a Job." After reviewing the latter post, I thought it was time to revisit the topic and let you in on a few more ways to get paid.

The ideas that Zaarly presents are perfect for the unemployed or those who just want to pad their pockets a little more. In addition, there are moonlighting jobs that I do that I thought you should know about. Thus, if you're without a steady paycheck or you just want to build up a rainy-day stash, here are some of your options.

1. Offer Experiences to Strangers

I recently learned about a new site called Vayable, which allows people with specialized knowledge and talents, local info, and time on their hands to create experiences that others can purchase. It's basically a touring and activity company without the company. Anyone can join the site and set up an experience. For instance, the Kan Brothers offer motorcycle tours of San Francisco - which include helmet rental, a drink at a local hot spot, and a city map - for two to four people at $75 per person. In New York City, Kim G. is offering a personalized painting lesson for groups of two to six for a flat rate of $300; the experience includes acrylic paints; canvas board and supplies; studio space; wine, cheese, and crackers; and Kim’s undivided attention. Consider this tip if you're interested in joining Vayable: Browse the site to see what other people in your area are offering. By creating a unique experience that no one else has established, you have a better chance of getting booked.

Read on for more.

Band-Aid Magic Vision: Ga Ga or Gag?

Rebecca M Gruber — Thu, 24 May 2012 08:04:28 PDT

Like most tots, my lil ones have a bit of an obsession with bandages - one slight scrape and they're begging me to fix it up. Some of that is probably the fun characters they get to place on the boo-boo, but I have a feeling more of it has to do with the attention they receive. Imagine how they would react if it was none other than Kermit the Frog, Gonzo, or Miss Piggy calming them down?

Band-Aid Brand just introduced Band-Aid Magic Vision, a bandage that works in conjunction with a free iPhone app to help soothe injured kids. Here's how it works: Apply a bandage to an injured child (it can even be a pretend injury, if your kids are prone to inventing cuts and bruises the way mine are), and then point an iPhone or iPad loaded with the app at the bandage. The app then allows kids to interact with one of the three Muppet characters as they comfort the kids. Your children can pose with Miss Piggy on a runway, help Gonzo with one of his crazy daredevil acts, or swing with Kermit as he sings "Rainbow Connection." They can also photograph themselves interacting with the characters, and that sounds like just the cure tots need when they're facing noncritical injuries. What do you think?