“MoneyTrail is a free, online allowance and money management system for kids, teens and families. Our goal is to easily organize the financial transactions within today’s busy families and to help kids and teens learn and practice smart saving and spending skills. MoneyTrail does not handle your money. We just keep track of it for you. Our website is www.moneytrail.net.
Keeping track of money and making wise choices with it is a skill that takes practice. With a MoneyTrail account, kids and teens learn to track their cash, allowance, IOUs, gift cards and checks. Knowing how much money you have and knowing what you want to use it for reduces the chances of blowing your money on “impulse” purchases. MoneyTrail keeps kids and teens focused on their financial goals.”
“MoneyTrail saves time and frustration for parents by easily organizing the financial transactions within the family. No more writing allowance payments and IOUs on the kitchen calendar! It helps you teach smart saving and spending skills to your child by giving you an easy system to use and encouraging financial conversations. MoneyTrail also helps parents keep cash in their own wallets by paying your child with credit (IOUs).
The MoneyTrail Market allows kids and teens to create a Wish List of items that they are saving for. They can enter custom items (such as movie tickets, donations, etc.) or they can find items through a filtered search of Amazon.com. Having a Wish List keeps kids and teens goal oriented and prevent frivolous spending. When they have saved enough money for an item, MoneyTrail makes it easy for them to notify their parents and then the parents can choose to proceed with the purchase. Parents can also use the Wish List items as a source for holiday or birthday gifts and can easily share those ideas with relatives.”
Teaching your kids responsibility is a must! Teaching them to be responsible with money is a life lesson that will pay off for them (literally) for the rest of their life. I love how MoneyTrail makes it so easy to manage your child’s allowance and spending, all the while teaching them to make good choices when it comes to spending. See this screen shot (below) to get an idea of what MoneyTrail looks like when you use it. I don’t know about you but when it comes to my child’s allowance I find myself wondering ‘”How much allowance does he have left?” and not being able to remember. Having MoneyTrail to keep track of it all is really nice. I also love that they have a mobile version of the website so now when your at the store and your kids ask you to buy that toy, you can pull up your Moneytrail account and tell them exactly how much money they have to spend and let them decide if they want to spend it. But the best thing about MoneyTrail is that it is completely FREE to sign up and use!
MoneyTrail takes the work out of money management for teens and kids!
MoneyTrail gets Bragging Rights!
*This post is sponsored by MoneyTrail.net