Jeff Eusebio is the CEO and Co-Founder of FamilyMint.com. Jeff created Family mint to give families an easy fun way to teach children and teenagers how to manage their money.
Family Mint is a free website. The way it works is you, the parent, sign up creating a virtual bank. As owner of the bank you manage your client’s (your children) funds matching interest rates, handling deposits and withdrawls just as a bank would for you. Family Mint takes the stress off parents by automatically depositing your child’s allowance in their account. Allowance deposits can be made weekly or monthly.
Each child creates their own account to keep track of their progress. They can manage deposits, withdrawls, transfers and plan long and short term expenses and saving goals. As the banker you can help motivate your child to save by giving them interest for so much money they save or by offering to price match when they reach a decided goal.