Let’s face it. We are in a new era. We are raising children in a digital age. They are becoming more and more savvy when they are online. And this is by the age of 5! It’s unbelievable how much our children are not only learning, but growing, from being online. My daughter will shop to her hearts content and when it’s time to pay the bill, brings me cash and asks me to log into my PayPal account. She just turned 12 and has been doing this for a couple of years now. However, even though she knows my password to PayPal, she knows there will be serious consequences if she does not ask me first. I have to approve the purchase. I also show her how to look online to see if there is a discount code for a particular store that she is looking to purchase from. She loves that she has the knowledge of how to save a few bucks when doing her online shopping.
Virtual Piggy steps in and helps parents in raising children who are financially savvy. They are able to shop with merchants that participate through Virtual Piggy’s site. The parent is able to set up a monthly allowance amount that can withdraw from their credit/debit card, or through PayPal. The children can then either save or shop with Virtual Piggy (VP). Also, with VP, parents are able to set restrictions as to where the child can shop and the maximum amount they are allowed to spend. This is the monthly allowance amount you set when you are registering the parent and child account in the beginning. This amount can be changed at anytime.
When she knows that she really wants something and it costs quite a bit, this child then becomes another person’s child, lol. She will save her money until she has enough to get what she wants. She has shopped for items from her favorite internet sensation, MattyB, she has purchased memberships with online gaming sites, and she has given her dad or I money to shop for something big such as her iPod that she saved Birthday and Christmas money for, or the DS she bought another year with her Birthday and Christmas money. She saves very little money from these events. However, she tends to find change of mine laying around, puts it into her bank and off we go to the bank to make a deposit. I love that with VP, I can just directly deposit money into her account to do with, what she wants.
For the holidays, her favorite thing to do is make her wishlist. She will type it up and email it out. With VP, you can view your child’s wishlist and make your purchases for Birthday’s or Christmas, or any other gift giving occasion. You can view all, and it will name the child who wants it, or, there is a tab for each child you have a profile set up for:
Make sure to check out the great Member Value Program (MVP). These are sweet deals that are being offered at that time.
What do you do within your household to raise children who are financially aware?