 Family
Bank software is specifically designed for children to learn
how to keep track of their allowances, spending and savings
with the click of a mouse. Its features help young people
develop good spending skills while they're still at home. It
can also help make savings habitual, and teach children to
avoid debt. Family Bank software is an easy-to use tool to
help parents better prepare their children to responsibly
deal with their allowances and other earned income.
The program establishes a ‘virtual bank’ on the family's
home computer. Family Bank is designed to be used by
children ages 6 through 16 and is considered very user
friendly. Parents can establish an allowance account for
each child. The account specifies the weekly allowance
amount that includes a chart of expense and income
categories, the percentage of the allowance (deposits) to
place in savings, and interest rates for savings. Allowance
deposits are made to a child's account automatically each
week.
Children use their account to write checks to their parents.
Every deposit or withdrawal is recorded in a register, and
pie charts are created to graphically show each child's
spending patterns. Older children may write just one check a
week, for *Cash*, but the program will not deposit any
additional funds into the account until the child enters the
details of how the cash was actually spent.
The interactive software features financial literacy
activities that show young users how to write a check, make
a deposit, and balance a checkbook. A chore list is also
included to link the idea of money to work. Parents kick
start the program by depositing their child's weekly
allowance into a new account. Parents may also set up
non-interest earning reserve accounts so the youngsters may
save money for charitable donations, holiday gift purchases
or others special purposes.
Family Bank includes a set of rules that, when agreed to by
parent and child, and just as importantly, adhered to by the
parent . . . will help children develop the habit of sound
financial management. Family Bank is a system that, once in
place, stays in place. It guides parents and children and
when it's time for a change . . . it prompts the users..
Family Bank is unique for many reasons:
-
Family Bank is simple to use (a bright six year old
can use it).
-
It's never too late to start (16 year olds
don't find it 'juvenile' because there are no dancing
bears, it's a real application program)
-
Family Bank's objectives are important,
and if the rules are followed, will be achieved.
-
Family Bank encourages positive
parent/child interaction about money. Instead of the
computer in it's typical role of isolator, it actually
requires that the parent and child sit in front of the
machine at the same time and talk with one another.
-
Family Bank combines cognitive ("this loan will cost
you 12%") and experiential ("gee, if I wasn't paying 2.50
a week for that loan, I'd have enough money to . . .")
learning.
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Family Bank requires almost no time
actually at the computer in order to achieve objectives.
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It sets in place a process that could
(should) last throughout the child's adolescence
-
It alleviates family stress by removing
points of conflict and encouraging positive communication.
Family Bank software specifications and features:
Platform: Windows 95, 98,2000, ME, XP, and NT compatible
Creates as many accounts as users need or desire.
Each account uses a personalized chart of accounts, color
scheme, and assigned Wisdom Files (thought for the day)
Creates custom Wisdom Files using favorite quotes and
digital pictures Children can create Wisdom Files without
risk of damaging or deleting existing Wisdom files or
photos Access to web based financial learning from within
the application. Web access for children is 'link-safe'
Each Family Bank account includes:
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checking
-
savings
-
reserves
-
loan application and repayment.
Each account records transactions into it's own
register and displays it's own charts.
Click here to purchase “Family Bank” the cost is $49.95 |
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