The Money Smart Kids Financial Training Kit
The Money Smart Kids Financial Training Kit is a great way to train kids of any age
to become financially independent.
This is a kid tested money management system that works! Since 1995 our kids and thousands of others have been the “test market” for this system. It has been improved, streamlined and made super-effective.
(You can watch a video shot in 2004 — one of our first TV interviews — when our kids were a lot younger and hear them talk about their money and their goals).
NOTE: Parental Involvement Required
Many parents are looking for a Money Smart Financial Training Kit or system that they can give to their kids to help them learn how to manage money. We’ve never seen something like that work.
This system requires Daily Parental Involvement—honestly, it’s the only way any effective child training is successful. Invest a few minutes a day in your kids and you’ll see HUGE returns! We have.
This system teaches basic money management skills while encouraging good attitudes about chores and school.
For Younger Kids
Younger kids divide their earnings into three different envelopes for: Giving, Saving and Spending.
For Older Kids
We teach the older kids to use a portion of their “earnings” to purchase their own clothes and eventually other things like: summer camps, sports, gifts and auto insurance.
Giving them their own money to manage, completely eliminates the “gimmes” for $100 sneakers and other things that kids typically “hit-up” their parents for. The system is flexible enough to be tailored to the specific habits that you want to reinforce with your kids.
Abbey (above), at age 9, loved to save, give and, of course, spend the money she earned. She used her money management skills to pay for college without borrowing a dime, then she got married and she and her husband just bought a house and are accelerating the payments.
The MoneySmart Kids Kit Includes:
– 3 indestructible envelopes with printed ledgers
– MoneySmart Kids Overview and Instructions
– Point Chart / Time Card
– “Copyable” Ledger cover
– Sample Chore list (one we used for our kids)
Praise for MoneySmart Kids System
I just finished reading “The MoneySmart Family System” book and had also purchased your Money Smart Kids Financial Training Kit. I love the “payday” system you used / developed. My husband, Ben, and I just started using the same system for our daughters, Chloe (age 6) and Cherie (age 4).
The examples and tools that you provide are so helpful, and we didn’t have to re-invent the wheel. Last week was the first week we tried out your Money Smart Financial Training Kit, and it worked very well.
Sunday evening was our first payday. We were on a camping trip for the 4th of July weekend, so my husband and I brought along our cash box, and our daughters were very excited to get paid. They were also very excited to have earned double pay, for taking the initiative to do extra chores.
Thank you for spreading the message about parents’ responsibility of teaching financial independence to their children. With the materials and information you provide, you’ve made things really easy for us to drive the point home about the importance of hard work and being financially responsible.
Sandy & Ben — Phoenix, AZ
Watch this video to see how our system works and how our kids managed their own money.