Posts for May 2010

The Benefits of Giving Back

By Bob Masterson

Charity is the greatest of virtues and like any virtue requires training, discipline and patience.  As any parent can attest, human nature can be inclined towards selfishness even in our youngest children.  If a child has two toys, will he hold onto both instead of giving one of the toys to his brother?  If she has two cookies, would she rather eat both or share one with her sister?   Charity is something that needs to be taught and nurtured early in life.  It starts out by repeatedly saying “share that toy with your brother” or “give your sister the other cookie.”  We explain why we share and how it makes the other person feel.  Although the child may give begrudgingly at first, it is a foundation from which untold future benefits will flow.

Through the act of giving, children start to build an understanding of needs outside of their own.  They begin to learn about sacrifice and thinking of others before themselves.  From this early foundation they are taught to see the good in giving to their family members, their friends, their church, or numerous other organizations that help out those less fortunate.

Through acts of charity we build an appreciation for the things we have, both big and small.  FamilyMint is a great tool for instilling the virtue of charity and providing teachable moments as to the good in giving.  By creating a charity goal, a constant visual reminder is given to the children every time they log in.

“One man gives freely, yet gains even more; another withholds unduly, yet is the poorer. A generous man will prosper; he who refreshes others will himself be refreshed.”  Proverbs 11:24-25

Copyright The Benefits of Giving Back © 2010. All rights reserved

The FamilyMint Minute – May, 2010

FamilyMint

We cherish too, the Poppy red
That grows on fields where valor led,
It seems to signal to the skies
That blood of heroes never dies.
Moina Michael

Remembering All Who Served

May 2010
In This Issue
Story of the Month
The Benefits of Giving Back
Quick Tips

Story of the Month
Jonathon L.
Oh how I wish we had had this with the older kids! We had boxes for them to divide their money and because of “accidents” money would be misplaced etc. Our 6 oldest now have jobs and checking accounts which is wonderful, but for our two youngest 12 and 10 this is a lifesaver. The best part is the automatic allowance scheduler, now we don’t have to remember when we last paid them! We have a budding lawyer in the 10 yr old and he could “always remember”, but not accurately LOL! They have both started to think ahead to activities they want money for, such as birthdays coming up, or trips to the boardwalk. They love coming home from shopping and updating their accounts, we love not having to dole out cash that gets easily misplaced! Read More>

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The FamilyMint Minute
Dear Jeff,

TOS Homeschool Crew Seaworth Award 2010  "The Most Family-Oriented Product"This month, as we honor the memory of those that died in the service of the military, FamilyMint is honored to receive an award from This Old Schoolhouse (TOS).  The TOS crew voted for the vendors that they thought were special and had a product they considered to be outstanding.   We are pleased to inform you that FamilyMint won for the category of ”Most Family-Oriented Product”!
With this, we would like to continue our welcome to our new users and thank you for making us a part of your family.

The Benefits of Giving Back

Charity is the greatest of virtues and like any virtue requires training, discipline and patience.  As any parent can attest, human nature can be inclined towards selfishness even in our youngest children.

If a child has tCharitywo toys, will he hold onto both instead of giving one of the toys to his brother? If she has two cookies, would she rather eat both or share one with her sister?  Charity is something that needs to be taught and nurtured early in life.  It starts out by repeatedly saying “share that toy with your brother” or “give your sister the other cookie.”  We explain why we share and how it makes the other person feel.  Although the child may give begrudgingly at first, it is a foundation from which untold future benefits will flow.

Through the act of giving, children start to build an understanding of needs outside of their own.  They begin to learn about sacrifice and thinking of others before themselves.  From this early foundation they are taught to see the good in giving to their family members, their friends, their church, or numerous other organizations that help out those less fortunate.

Through acts of charity we build an appreciation for the things we have, both big and small.  FamilyMint is a great tool for instilling the virtue of charity and providing teachable moments as to the good in giving.  By creating a charity goal, a constant visual reminder is given to the children every time they log in.

“One man gives freely, yet gains even more; another withholds unduly, yet is the poorer. A generous man will prosper; he who refreshes others will himself be refreshed.”  Proverbs 11:24-25

Quick Tipsadvice


Any suggestions for what I do with the money I’m holding for my kids?


Our suggestion: put it in a separate youth account at your local credit union or bank.  This will keep the money you are managing for them separate from your own and you’ll have the comfort of knowing that it’s available when they ask for it or need it.

Have you visited the FamilyMint Forums?


This is the location of our Help files, but there are also forums to provide Feedback, ask questions of others in Community Chat, or send us your suggestions for new features in Feature Requests.

One thread that we’ve grown to love in the Feedback forum is “How we use FamilyMint“.  There are stories out here from families describing how they are using the application and the impact it has had on them.  If you want to share your story, simply add it as a comment and other families will benefit from your experience!

Please keep the questions and suggestions coming!

Jeff Eusebio & Bob Masterson
FamilyMint co-founders

The FamilyMint Minute – April, 2010

FamilyMint
spring tulips
April, 2010
In This Issue
Story of the Month
Financial Literacy Month
Quick Tips

Story of the Month
Lori – Newport, PA
Recently, the boys have become very interested in an on-line game.  The game itself was free, but there were features you could purchase.  The boys wanted to spend some of their money on this game.   I didn’t want them to spend their hard-earned money on a virtual item.  We told them that we did not think it was a wise use of their money.   Because we try to let them manage their own money, they were allowed to spend some of their money on this on-line game.  THEN we started using FamilyMint. And the boys’ eyes were opened like never before!  Read More>

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The FamilyMint Minute
Dear Jeff,

adviceIt has been a little over two months since we launched FamilyMint to the public and we have been growing by leaps and bounds thanks to all of you. In fact we have more than doubled our user base in both February and March. Please keep the recommendations coming!
We would like to welcome all of our new users and thank you for making us a part of your family.

April is Financial Literacy Month


savings jarIt is financial literacy month, so what can you do to help your children become financially literate and at what age should you start?

Just like all education, it begins in the home! Mom and dad are the first to influence a child’s behavior and habits. Just like reading and math, we begin with the basics of A B C and 1 2 3 and build from there.

It is no different with finances.  Kids are bombarded with consumerism from the earliest age and thus should be equipped to understand that money is a limited resource and that there is a difference between wants and needs.  Anyone can spend money, but to manage money wisely, we must instill early on an understanding of how money works and the responsibility that comes with having money.

This is where FamilyMint can help.  Children are given the ability with parents’ help to see how much they have and where their money is going. They can plan for long term and short term expenses and goals and keep track of their progress to these. Children learn by doing and money becomes truly transparent to them for the first time.

In case you were wondering how April became designated Financial Literacy month, it all started back in 2000, when Jumpstart Coalition began promoting April as Financial Literacy for Youth Month.  In 2003 the United States Congress showed its support by passing a Senate and House Resolution, and in 2005 a bill was passed calling upon all Federal, State and local governments to observe the month with appropriate programs and activities.

Today you will find schools, youth organizations and financial institutions offering numerous programs and activities to help Americans of all ages improve their understanding of finances.

Quick Tipsadvice

Can I edit a transaction once it is approved and posted?

A child can cancel a transaction anytime prior to it being approved. and the banker can deny the transaction if approvals are turned on.

But just like an online bank, once it is approved and posted, you can no longer edit it. This way, there is always a complete history of everything that happened in your bank. If a transaction is approved in error, you can simply create an opposing transaction to nullify the previous transaction.

How do I upload custom images for profiles and goals?

Uploading custom images is easy and the kids love the ability to personalize their profile and goals.

To upload a picture, select Browse under the Upload a Custom Image window and select the image you wish to upload on your hard drive.  Click on Upload and wait for the successful completion message. If your image fails to display, try reducing its size. The maximum file size for custom images is 8 MB.

Your kids can also upload custom images for their goal accounts.   Go to Amazon.com or another online retailer where you normally browse and find the product your child is interested in. Right click on the product image and click on Save Image As.  Save image to your Desktop for easy reference or other folder of your choosing. Now follow the steps above to upload a custom image.

Please keep the questions and suggestions coming!

Jeff Eusebio & Bob Masterson
FamilyMint co-founders

Judi W.

I love this program more and more every week!  The fact that my kids have become very careful about their spending and smart about their decision making skills makes it one of the best tools we use to teach ever.

Ken – Clarkston, MI

Last night (unfortunately too close to bed time to play around much) Christie and I set up our bank and an initial allowance so we could have our first conversations about saving.  You have probably heard this from others, but her first question to me was, “What is interest?”  It felt pretty good to have that kind of opening.  This is a good thing FamilyMint is doing.  I only regret that I did not start sooner.  This will help me be a better dad.



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