When I turned 12, my mother and I went to the bank and opened a checking account in my name. She taught me how to balance my checkbook and the importance of always knowing how much money was in there, and every month she would deposit money sufficient to keep me in clothes and modest entertainment.
She never had to hear me ask her for money for a movie or other weekend activities. Other than large items like winter coats, she didn’t have to suffer through my teen years with me begging for every single new and trendy outift.
I knew that if I had enough money, I could buy it, and if I didn’t, I should consider saving up for it. My allowance wasn’t extravagant — probably equivalent to the change at the bottom of Paris Hilton’s purse — but it was plenty for me start to understand the value of delayed gratification.
By the time I got to college, I was able to keep my checkbook balanced, pay my rent on time, and still have enough left to purchase my college staples. You know, like ramen and mac and cheese. (Good times, good times.)
Well, enter the 21st Century, and now you have a slightly more sophisticated way to introduce your kids to the power of budgeting and saving: the Pay Jr Visa Buxx Card. That is just a long name for a product which will simplify your life as the parent of a tween or teen.
Pay Jr has two different cards for kids depending on their ages.
They make it easy to track your kid’s chores and any other conditions on their allowance. For older children, they offer a debit card fully controlled and trackable by you. You see the statements, you add the money if and when you deem it appropriate.
PAYjr is an online allowance and chore system for kids. The program is designed to act as a tool for parents to help manage the age old activity of managing chore charts and allowances with kids. Once a child turns 13, we offer the optional PAYjr Visa Buxx Card, which allows parents to electronically move money to their teen with the click of a button.
In addition, we provide parents with complete visibility into card activity, giving parents an important peace of mind. Teens love the PAYjr Visa Buxx Card because they finally gain the independence and ability to shop online without borrowing their parent’s credit card.
In addition, the PAYjr Visa Buxx Card is the only card that allows teens to upload pictures and art to create their very own card design..a feature teens really love!
PAYjr has been featured on the Today Show, the CBS Early Morning Show, ABC World News, and in the Wallstreet Journal and Parenting Magazine.
It is really easy to sign up and get started helping your kids learn about money. I’m pretty sure that if this had been around when I was a kid, my mom would have signed me up too :)
I turned out OK — see if it can help your kids!
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