Ever forget your child's allowance?

MoneyTrail automatically keeps track of allowances and keeps you organized.

Every Dollar Counts!

Teach your child to keep track of their money. It reduces impulse spending.

Finances shouldn't cause headaches!

Practicing money skills when young can lead to stress-free, responsible finances as an adult.

Tuesday, February 28, 2012

6 Tips for Creating a Successful Allowance System


An allowance system is one option for teaching money management to kids and can be an effective tool. However, it requires more than just handing your child some cash every Friday.  Here are 6 tips for creating a successful allowance system in your family.


Sunday, February 26, 2012

Sunday Funnies #3


We'll start off the Sunday Funnies this week with my dog, Rascal.   He has a "boo-boo" on his foot  so we have had several days of the Cone of Shame.













And...on to more things that made me laugh:







Saturday, February 25, 2012

Pam's Picks: America Saves Week

This past week has been America Saves Week and there have been many, many fabulous articles written about saving and financial literacy.  America Saves and the American Savings Education Council are the two coordinators of this event.  They both have resources for all ages.  Here are some of the articles and resources they have posted (not just from this week) that pertain to kids, teens and money management.


Friday, February 24, 2012

I Gave my Kids a Money Pop Quiz


I have been out of commission for most of the week (either a cold or the flu...doesn't matter as long as it goes away).  To save time and energy, I am re-posting an entry that originally ran in March, 2011.  Hope you enjoy...

Frank and I try to include our kids in many money discussions. It can be as simple as which cereal to choose in the store and as difficult as explaining why it is not feasible to pay $3000 for a school trip (seriously!). All in all, I think my kids are fairly responsible money managers for their different ages. Last night I decided to give them a surprise quiz! So after dinner, when each kid had gone off to do their own thing, I decided to talk with each one individually. I asked them each the same question, “If you had a friend who just started getting an allowance (or paycheck), what advice would you give them about having their own money?”

Monday, February 20, 2012

Let's Talk about Money! 4 Tips for Starting the Conversation with Your Child

She Who Talks with Hands
Image via paulhami on flikr
Would you ever hand your car keys to a teen that has never driven?  Would you hand a book to a 4 year old child and expect her to learn to read it by herself?  I am guessing that most folks would answer "No" to both of those questions.  When teaching a child or a teen new skills, there has to be some parental interaction and guidelines.

The same thing applies to teaching a child or teen about money management.  If you just hand your child a wad of money, they will learn very little about responsible money management.  There has to be ongoing conversations and consistent guidelines (regardless of whether your child gets an allowance or not) in order for your child to become financially literate.  I was thrilled to find two articles recently that covered this topic.


Sunday, February 19, 2012

Sunday Funnies #2

Pull up a chair and share a laugh with me...







Saturday, February 18, 2012

Pam's Picks: Articles, Carnivals and Giveaways

Let's jump right to it.  Here are some fabulous finance articles from around the web this week.

Kids Money Management discussed teaching teenagers about budgeting.
Boomer from Boomer and Echo tells us how to put your kids to work.
Your Smart Money Moves listed the  Top 10 Unusual Scholarships 
Paul at The Frugal Toad discussed Personal Finance for College Graduates.
Nicolas Pell on Mint listed the best college majors by salary.
College Parent Central had a roundup of resources for staying safe and healthy in college.

Thursday, February 16, 2012

What Can Shopping for Kid's Clothes Teach about Financial Literacy?


Twice in the past week I have noticed that my kids are once again out-growing their clothes.  My youngest child put on a pair of pajama pants that fit him last winter and now they look like Capri pants.  And then…one of my older boys reminded me that he needs new dress shoes.  I was a bit skeptical, until I realized that his current shoes were two sizes too small.  It’s kind of hard to argue with that.  It looks like we will be doing some shopping this weekend.

Shopping for kids clothes doesn’t have to be a budget buster.  In fact, there can be opportunities for your child or teen to learn and practice responsible financial management skills.