ChoreMonster is an excellent tool for making chores fun. But have you ever stopped to think about how it is preparing your children for their futures? Ok, that sounds too dramatic, but in all seriousness, some real building blocks are being put in place that can help down the road. Today, we give you three ways that ChoreMonster can help prepare your kids for their first bank account.
1. Spenders & Savers – You probably already know if your kid is a spender or a saver. Up to a certain age, money doesn’t mean anything to kids. They get it in a birthday card and forget about it immediately or they lose it, or they spend it right away on whatever is right in front of them at the time. They don’t look at money the way they will someday have to look at it, and that’s alright. But with ChoreMonster, they have points they’ve earned. They have the power to make the decisions about those points. Do I cash in my hard earned points for IPad time or save them up to get that LEGO set I’ve been wanting? It won’t be long until the IPad time is a new skateboard and the LEGO set is a new car so our kids can’t learn this lesson soon enough.
2. Understanding The Digital Realm – It’s happening more and more every day, the way we handle money is becoming a digital process. We grew up with our parents writing checks and carrying cash. But the generation below us will do that less and less, if at all. We can pay for stuff at more and more stores using our phones. And now, more than ever marketers and banks are vying for your kids cash. Using ChoreMonster on a regular basis not only makes chores fun and allows your kids the chances to win cool monsters and rewards, but it also helps them become more and more familiar with the digital tools and processes that are becoming essential to our daily lives.
3. Kids Taking Ownership – Our kids don’t have ownership of too many things outside of their toys and clothes (which they don’t care too much about usually). While kids are young, their parents take care of everything, but someday it will be time for the kids to take ownership of not only their stuff but of their own money. ChoreMonster allows kids to take ownership of their points right away and make tough decisions, even though they might be about seemingly frivolous things.
These things won’t teach your kids about interest and writing checks and debit cards, but they will lay a strong foundation for those lessons, and plenty of others that are sure to follow.