January 2 2009
BudgetTracker for Kids
You may have noticed we added a Kids/Basic option to the dropdown menu when choosing advanced or simple mode. The idea is to come up with an easy way to teach kids about budgeting their money and get started at an early age. This is a very slimmed down version of the regular site to avoid having to think too much. If you have any recommendations to the site, please let us know. Below is a list of features/changes that were made to make it more Kid/Basic friendly.
- Transactions – The first thing you’ll see is that there’s no New Transaction page. We felt it’s better to put it into a sentence instead and created 2 entries in the top dropdown titled “I Made Money” and “I Spent Money”. They then need to just fill in the amount, payee, and category. The date will automatically be entered as the day the entry was created and lots of other features such as Gasoline, Tax Deductions, and the Account were removed. All entries will get entered into the Cash Account since most kids dont have a checking account yet. We will however look into being able to save money into a savings account that their parents setup for them.
- Colors – At the top we added an easy way to change the color of the site and plan to offer some background pictures of cartoons possibly in a future release.
- Chores – Parents should enjoy this one. This will allow the kids to keep track of what chores they need to get done. The parent will probably want to set this one up for them so they just need to click on the link to see what needs to be done. If you click on Chores Forecast, you mark it as done. If you have a subscription to budgettracker, you can set them up as a sub-account and then check their chores list from work to see what got done and what hasnt.
- Pre-Defined Categories – When you get started creating the budget, you’ll see we offer a pre-defined list of categories to choose from. If you would like to add your own, you can either choose “Custom:” from the template dropdown or under the Action dropdown at the top, choose “Other” to see a list of all site links and select the “Categories” link. Below are the pre-defined categories to choose from:
- Allowance
- Lawn Mowing
- Arcade
- Candy
- School Lunch
- Toys/Games
The Kids/Basic pages are directly tied in with the original Budget page so if you would like to make more advanced changes to the Transactions or Budget items, you can always change over to Advanced or Simple mode to make the changes needed. We are currently looking into Budgeting for kids that are not quite old enough to have checking accounts or living on their own but old enough to have a real job.
I would love to see the site.
This is an awesome idea.
I am an advocate for kids learning reality based earning, spending, saving and investing.
I would tie it to the family chore add on, that is in the Real Budget Tracker.
It would also be great to have some Games, tools, help them learn about investing their money, understanding late fees, as well as making choices on interest bearing accounts.
This could be simulated, so they are playing a reality based game.
I know that INGdirect has a kids, link and they offer interactive games, that teach kids about checks and balances, what happens if you don’t finish your work, and if you spend all your money as soon as you get it.
If you do a Search, for Kids and Money Skills, you will pull up many sites.
This is so neat.
I would love to be able to check it out.
If you need tips on making it visual and attractive to kids, various age levels, e-mail me.
I am a Social Worker, Substitute Teacher, VBS planner, preschool teacher for a period of time, worked with Adolescents.
Remember, that any simulation should be realistic for age level comprehension, so that they do not grow up with a distorted view of how the Personal Finances work.
Creating age appropriate tools is important.
You could include taxes, bills, expenses for simulations games, for older kiddos.
Thank you for the feedback. if you click don’t have a BudgetTracker account yet, you can click on “Back to BudgetTracker” at the top of the page. Once you have an account, click on themes and change it to the Boxed theme. Then from the dropdown you can choose Kids/Basic. We still need to add Kids to the Themes page so this is the workaround for now to see the Kids theme. We’d love to hear any suggestions you have so please email us at feedback@budgettracker.com with any questions or post on or Blog or Message Boards.