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Imagine how your daughter would feel if she was given less pocket money than your son? To mark International Women’s Day today and it’s theme of pay parity, we asked kids how they would feel. Watch their response and let’s change things for a more ‪#‎equalfuture‬

@ANZ_AU  #IWD2016 #PledgeForParity

For decades, children have been big business–the source for buying toys, games, clothes and now lots of high-tech goodies.  Marketers have tried to treat kids as young adults–unleashing an array of ad campaigns designed to get them to buy or “pester” their parents.  Media companies and marketers, for the most part, have opposed regulatory safeguards that would protect young people from such unfettered advertising (kids TV is a great example).  It comes as no surprise to anyone that one reason media and marketing companies want unfettered access to influence kids, especially on digital platforms such as mobile, are the financial rewards.  Last month, Digitas, part of the global ad giant Publicis, published a report (attached) which reveals that “Today’s little kids and tweens having buying power to the tune of $1.2 trillion per year.” 

Read the full report here

See the article here

No-one dreams of their kid growing up to go on Welfare, right! So why as parents do we hand out money to our kids or buy things for them without first making them earn it.

I’m not talking about cracking a whip and forcing them into slave labour.  I’m talking about real reward, for real behaviours that you determine and it doesn’t need to be difficult or even time consuming.

Kiddy Credits helps you teach your kids the basic principles of money management in a fun, interactive environment.  What’s more, making “cents” of money management can be done in minutes a day!

 

In order for kids to learn how to manage and value money, they need to have some. However, money doesn’t grow on trees so the first lesson they are taught through Kiddy Credits is that money must be earned.

It is well known that when somebody is given something for nothing they don’t appreciate it as much as if they had earned it themselves. In fact, experts compare giving kids an allowance for doing nothing to adults being on welfare.

Kiddy Credits ties the performance of chores to the payment of pocket money using a simple, colourful and interactive chore chart that will help teach your kids the relationship between money and the value of service.

Each chore chart is unique to each kid, and the amount they are paid for each completed chore is customisable to suit your family’s budget and your parenting style.

You wouldn’t like it if one week you were paid and the next you were not. How would you plan for the future, pay your bills or god forbid SAVE.

By taking the hard work out of managing the payment of pocket money, Kiddy Credits makes it easy and quick to ensure that your kids remain interested, and you remain consistent.

After all, learning that money must be earned is only part of the equation.  In order for them to learn how to manage and value it, the payment of that money must provide a regular and consistent income stream.

Manage all your kids from one page.  Monitor their progress, provide feedback and give them a nudge in the right direction.  What you do now helps determine your kids financial future!

Customising chore charts is a snap. Simply click and drag from the list of chores to create your child’s weekly chore chart! There is a wide selection of chores, tasks and behaviors for you to choose from. Can’t find the task you are looking for? No worries, you can quickly add it. As the chores are completed you or your child can mark them off, to help reach their weekly pocket money goal.  Remember, if chores aren’t your things you can reward for behaviour, school work or accomplishment.  But remember, we are all about preparing kids for the big, bad world where money most be earned.

“The Commonwealth Bank recently released a survey on pocket money; apparently it’s worth $1.4 billion each year!

They surveyed 1,023 parents of a child/children aged 4 – 15 years and found the following:

  • Almost 80 per cent of parents pay pocket money, with the average starting age at just over six years old.
  • Younger children save more of their pocket money than older children.
  • The most common chores for earning pocket money are tidying the bedroom and washing dishes.
  • Children are most likely to spend their money on food, snacks and lollies.

Read the full article here Kids and pocket money | Canstar.

Justine Davies on 28/02/2013