FORGET PIGGY BANKS! THREEJARS GIVES KIDS REAL LIFE LESSONS IN MANAGING MONEY
Posted Nov 04 2009 10:00pm
Smart New Web Service Transforms How Kids Think About Cash
ThreeJars introduces the future of allowance! In a first of its kind service, kids are able to responsibly earn, track and safely use their own money online, learning important lifelong financial lessons along the way. With ThreeJars, kids divvy up funds into separate categories: Save, Spend, Share. They decide how much to store up, what to spend, and how much to donate to charity.
ThreeJars was developed by father of six, Anton Simunovic, as a way to instill healthy money habits. “The 2008 meltdown taught us about the need to be financially self-reliant. ThreeJars is an empowering and fun service which gets kids thinking more positively about their own money. It also helps them understand the importance of helping others. I’m proud that these values are the core of ThreeJars.”
The service is extremely easy to use. Parents set the allowance limit for each child, and come payday, the site adds the new money to their total. It automatically keeps track of how much is owed and what has been paid. What’s more, ThreeJars is a real mechanism for showing that money is a limited resource. And it goes beyond just cash for candy and clothes, by encouraging long-term saving and charitable giving. Here’s how:
SAVE Kids instantly develop the savings habit by setting aside a portion of every dollar earned from day one. They also learn savings fundamentals: like set and stick to long-term goals, practice patience, and don’t break financial commitments. Savings options include certificate of deposits, parent bonds, double-ups and more. Interest is paid by the parent. Just like real life, if kids break their savings commitment, no interest is earned.
SPEND Kids spend their own money, not yours, and learn to value a dollar. With parent’s approval, kids withdraw cash from their personal ATM, or can buy gift cards from more than 30 of their favorite retailers (Amazon.com, AMC Theaters, American Eagle, Toys “R” Us, Walmart, iTunes, and more)
SHARE ThreeJars gets kids involved, with helping people, animals, and the environment – and every child gets to share. By using points earned on the site, kids direct ThreeJars ‘ monthly donation to causes they are passionate about. Kids can also donate from their own Share Account to causes on or off ThreeJars (Save the Children, CarbonFund.org, Whale and Dolphin Conservation Society, Nature Conservancy and many more.)
With ThreeJars, kids are also encouraged to earn extra dollars through one-time projects around the house, even lemonade stands. With more than 200 ideas on ThreeJars, parents can spur the entrepreneurial spirit in their child.
Parents can sign up for a 15-day free trial. After that, it’s just $30 per family per year.