It's easy to say as a parent that you want to get your kid started early on good financial attitudes and money management skills, but how do you actually do that? Piggy banks, chore charts, allowances, smartphone apps?
Wolverine Bank is rolling out a new financial literacy program in partnership with
FamilyMint, to answer those specifics and provide one interactive, simple resource for parents and kids ages 5 to 16.
FamilyMint works by allowing kids to manage their own money in a virtual environment, with parents acting as the "banker" or custodian of the money. Kids can allocate savings, set goals, and make transactions, while parents can automate allowance, set interest rates, and create rewards for reaching goals.
The program was created by two dads, Jeff Eusebio and Bob Masterson, who couldn't find good tools to teach their kids about money in an engaging way that fits both kids' and parents' busy schedule.
"Wolverine Bank is always looking for educational opportunities within our communities, especially those focused around our youth." said Marketing Specialist for Wolverine Bank, Deanne Marszalkowski. "FamilyMint is a great tool for kids and parents to open a dialog about the importance of saving and brings a modern and interactive twist to the piggy bank."
Participation in the program is free for Wolverine Bank customers.
Writer: Sam Eggleston
Source: Deanne Marszalkowski, Wolverine Bank
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