Giving kids a leg up on adulthood doesn’t have to be a chore.
FamilyMint builds financial literacy while children track their money online. They learn by doing…and have fun along the way. Children take the reins, allocate savings, set goals, and make transactions. Parents can automate allowance, encourage savings with motivating interest rates, and reward deposits for worthwhile goals. So easy and intuitive, some parents use it to manage their own money!
Security
Keeping your family’s information private and safe is our top priority at FamilyMint. All of your family’s information is accessible only by you, and you will never have outsiders sending unsolicited messages to your children. FamilyMint uses state-of-the-art encryption as well as security-hardened, firewall-protected servers.
NEW! Mobile Access
Now you and your kids can access your accounts on the go with any mobile phone that has an internet browser. Parents can approve or deny transactions and review kids goals while out and about. Kids can make a deposit, withdrawal or transfer right from the phone or create a new goal when they’re at the mall.
Goals
Like us, kids have a lot more ideas on what to buy than money to spend. Kids can set up as many goals as they want and easily move money around to prioritize what is most important to them.
FamilyMint goals are based on the SMART goal principle. Goals that are;
Specific
Measurable
Attainable
wRitten
Timely
Locking Goals
FamilyMint provides the ability to lock goals that you’d prefer your children didn’t touch. When a goal is locked, money can be deposited into it, but not withdrawn or transferred. Kind of like your own retirement account, this feature is great for long-term savings goals like cars, college, charitable causes, etc.
FamilyMint provides the ability to lock goals that you’d prefer your children didn’t touch. When a goal is locked, money can be deposited into it, but not withdrawn or transferred. Kind of like your own retirement account, this feature is great for long-term savings goals like cars, college, charitable causes, etc.
Matching Deposits
Incentivize kids who are saving for specific things, like college or a car, by automatically matching a percentage of their contributions towards these goals. For example, match every dollar your child saves towards their college goal. A “matched” goal like this is also “locked”, so your child can only take money out of this account after you, the banker, agree they’ve reached their goal.
Savings Plan
In simple terms, the Savings Plan is an electronic envelope system that teaches basic budgeting, a skill that is critical throughout life. The FamilyMint Savings Plan allows you or your kids to automatically distribute deposits into multiple accounts according to percentages they define.
Automated Allowance
Allowance is a weekly or monthly ritual in many households, but managing payments can be a real chore. With FamilyMint, set it up once and deposits are made automatically into each child’s account.
Automated Interest
Interest can be a powerful motivator as it allows the child to see their savings working for them. Since you are the banker, you can help them appreciate their money by setting a truly motivating rate for each child (can’t do that at a bank!)
Easy to use for Parents “Bankers”
Everything you need in one place. Everything is managed from only two screens, so set up is simple and quick. A combined view of multiple children is presented on your home page or click on a child’s picture to access their individual account.
Understanding what your children wish to save for and how they are saving and spending allows parents an ideal opportunity for “teachable moments,” made much easier with colorful, visual graphics to illustrate important points.
Versatile, Interactive and Fun for Kids
Kids can choose between two different views:
- The Junior View is perfect for younger kids. It is interactive, fun, and focused on making complex concepts simple. Kids will love how easy it is to track their money, set goals, and move their money around. If you take advantage of the automated allowance and interest payment features, they get to see those payments appear and grow. They can also track their gift cards received.
- The Advanced View is designed for more mature kids and looks just like the parent format. Kids have access to a robust set of features that allows them to manage their money, taking responsibility for goals, budgeting and tracking progress. There’s no better way to visually learn the benefits of saving in a way that mirrors real life.
Pictures can be selected or uploaded for each child and each goal, making the system truly unique to your family.
Personalization
Pictures can be selected or uploaded for each child and each goal, making the system truly unique to your family.