The KidsWealth Program is simple, fun and easy to use for both parents and kids, ranging in age from 4-12 years old. It is specifically designed to teach kids the value of money, how to manage money, build smart money habits and develop a mindset for success! It is based on 10 key principles – but mostly on the fact that we learn best through real hands-on experience, which ultimately lasts a lifetime. The KidsWealth Program is about teaching financial competency at home vs. financial literacy in schools which simply does not work.
Just imagine teaching your kids to ride a bike by giving them a book with some explanations and theories on engineering, propulsion, balance and energy. Do you think your kids would ever want to ride a bike? Furthermore, imagine expecting them to learn how to ride a bike successfully without ever giving them a bike and helping them to balance, pedal, brake or steer for themselves. Would they have much success?
The KidsWealth Money Kit is like “training wheels” for money. For your kids to be successful with managing and handling money, they need REAL money, they need a structure and system, they need direction, they need to manage it themselves, and the ability to make decisions on their own. And, as always, they need love and support from their parents to succeed. This is exactly what the KidsWealth Money Program does.
The KidsWealth Program has 3 simple steps which take parents just 30 minutes to set up and less than 5 minutes per month – just to pay their kids. Yes, that’s right: Kid’s Pay:
Step 1: Determine Your Child’s Kid’s Pay Amount
The KidsWealth Program involves parents paying their kids a monthly salary – called a Kid’s Pay. This is NOT an allowance (*See Below). Your child’s Kid’s Pay is directly based upon your family income and lifestyle. So Step 1 in our program has parents evaluate how much they spend on their kids (wants vs. needs) and take a percentage and pay it to them ONCE a month as their Kid’s Pay on a selected payday.
* Allowances don’t work because the amount is generally too small, too inconsistent and is primarily spending money. For those parents who tie allowances to chores – research shows paying for chores does not teach kids about money and responsibility. It is a behavior modification tool – simply put, parents use money as a means to bribe kids to get stuff done around the house or to do well in school. Often these chores based programs are tedious and time consuming and bottom line a waste of time and energy that never produces the results intended. If it does, then results will only continue as long as the reward is available and meaningful, which changes for kids often.
Step 2: DetermineThe Amounts For Each Of The 5 Accounts
30% of their Kid’s Pay goes in their WEALTH Account – this is their Investment account. Money is this account is never to be spent, only invested in various ways to grow their wealth
20% goes in their PLAN Account – this is for your kids to be able to plan for and purchase more expensive items like a bike, game cube, Xbox or computer
20% goes in their LEARN Account – your kids use this money to buy books, education toys and games, trips to museums, parks, zoos, travel or anything that is educational in nature
20% goes in their FUN Account - this is your kids spending budget for the month for toys, games, movies, popcorn, snacks, or treats that they buy on their own with their own Fun money
10% goes into their ANGEL Account– this is their charity account, money to be used every month to donate to charity, tithing at church or helping other kids and people in their community
Step 3: Set Up The KidsWealth Money Kit:
The KidsWealth Money Kit contains everything you need – including a Parents Guide that helps you figure out an appropriate Kid’s Pay amount for your child, the amount for each account and tips on how to introduce money to your kids and set up the program. The Kid's Guide also helps kids understand each account and how the money should be used.
There is a Kid's Pay Agreement which is to be signed by both parents and kids, detailing the amount of your child’s Kid’s Pay, the date each month and how the money is to be managed. Kids can hang this on the wall or keep it in their kits.
Included in the Money Kit is a “Kal and Pal” Calendar and a set of Kid’s Pay stickers which your child uses to mark each payday for every month, so they know when they will be paid. (Note: In the Parent Center we have a Kid’s Pay Reminder – where you can enter your child’s pay date and your email address and our software will send you a reminder each month, a few days in advance reminding you to get your child’s Kid’s Pay)
Included in the Money Kit, are the 5 Account Wallets (WEALTH, PLAN, LEARN, FUN and ANGEL). Your child simply marks their name on the Money Kit Case and Account Wallets and everything is kept together in the Kit Case for safety and convenience. All accounts are color coded for ease of use, especially for younger kids.
Also included in the Money Kit is a calculator, 5 pencils and "Kal & Pals" decorative stickers. The KidsWealth Trackers are age appropriate activity books, that feature "Kal and Pals" and also include tracking pages for each account.
Once set up is complete, simply pay your kid’s their first Kid’s Pay in cash and start the program. It’s that simple! The program is designed to simply blend into your everyday life. For example, if you are heading out to the store, you simply tell your kids to bring their FUN wallets, or if to a bank, their WEALTH wallet if they have a deposit to be made. If to church, they take their Angel wallets, etc…
No more arguing, no more begging or asking – and no more saying NO! Your kids have their own money each month and they get to decide when and how to spend their money. This provides a safe training ground and real experience for your kids to manage and handle their own money.
The KidsWealth Program works and the results are 100% guaranteed. ou will see changes in the first 30 days that your kids are on the program and you will be amazed at how smart your kids become managing their own money.
When it’s your money it’s one thing, when it’s their own, everything changes. This amazing money and wealth-building program combines the best of financial training and personal development. The KidsWealth Program uses positive, affirming language like “Wealth, Plan, Learn, Fun, and Angel” and whose structure powerfully reinforces strong character development.
Remember, the key to being successful in anything, is to believe you can be successful. Then just make it happen! Your “mindset" creates your results.
“The only source of knowledge is experience.”
Albert Einstein
KidsWealth Kids will be the leaders of tomorrow. They will be confident, empowered and financially successful. They will have a financial “edge” over their peers because you provided them with an “advantage” at an early age. That advantage will carry them throughout their lives!
“An investment in knowledge always pays the best interest.”
Ben Franklin
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KidsWealth
