BusyKid reinvents chores as kids’ first jobs, key to their future financial success
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While generation after generation have faced many of the same challenges when it comes to raising children, it appears as if there has never been a more critical time than now in the development process to teach kids about a strong work ethic and managing money.
Currently millions of Americans have no savings, are weighted down with huge debt and can’t take advantage of a booming stock market. Studies have shown that a major contributor to these issues is a lack of financial education. BusyKid provides real “life lessons” through hands-on experience of earning, saving, sharing, spending, and investing real allowance each week.
BusyKid is the first chore/allowance app where children can earn, save, share, spend, and invest real money wisely. It is now available for free download in the Apple and Google Play stores and the timing couldn’t be better.
“Parents are raising children in a very difficult environment today,” said BusyKid Co-Founder/CEO Gregg Murset. “Being raised in a time when money transactions are invisible and handled remotely can be confusing for anyone, but especially children. Without the aid of schools teaching important financial lessons, it’s no wonder young adults are having difficulties managing money.”
Chores and allowance are two hotly debated topics among parents. Some feel their kids are worked hard enough between school and extra-curricular activities. Others expect their kids to help out around the house either for a reward or simply as a member of the family who needs to contribute to the happiness and well-being of the group. BusyKid takes a new approach, framing chores as a tool parents can use to set their kids up for future financial success.
“We suggest that parents help their children to overcome the challenges of being raised in the digital age by introducing chores as early as age three or four,” added Murset. “I also think using a system that functions like a real-world job instead of relying on chore charts or rewarding kids with stickers and points provides life lessons that will be needed soon enough.”
For example, BusyKid features pre-loaded chores based on children’s ages that parents can customize as needed. Kids easily log into their account, review their tasks and mark them off when completed. Kids receive allowance every Friday (Payday) after parents check the work to verify that it was completed and approve a text message to ok the transfer of funds.
After getting paid, children can save some money, donate some and use the rest to buy gift cards, get cash, buy shares of real stock or make purchases by using the BusyKid VISA Prepaid Spend Card.
BusyKid is only $14.95 a year for an entire family and is available in the Apple Store and Google Play.