Bah humbug? Nah. Because I know my kid will put that cash in his bank account instead of blowing it on who-knows-what. And that will last a lot longer and help him much more than another hooziwhat or diddley-do. It will teach him about saving money, and that’s important because, in just one generation, the savings rate plummeted from 30% to near 0%, the lowest since the Great Depression. But kids actually get a lot of cash.
Kidworth, a free service that helps parents raise a generation of financially literate children, estimates that kids earn or receive on average $25,000 from birth to age 18. The check from Uncle Jim. The fiver Grandma stuck in their Christmas stockings. The cash from shoveling the neighbor’s walk. Allowances. After school jobs. It all adds up.
Kidworth believes in helping kids learn the value of money, save it up and manage it well. That’s why I agreed to be a brand ambassador for them. Their free service lets kids set money saving goals, invite relatives to partake and keep track of their money.
If your kids get cash for the holidays, take a look at Kidworth. It helps your kids make their money work for them, and can even help them save up for anything from iPads to college tuition.
MommaSaid has been compensated as a brand ambassador to Kidworth, but the thoughts and words are all ours. We just really like the idea of teaching kids to save.