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6 Days of Holiday Giveaways, Day 2: Help your kids save with Kidworth (and win $25 to get started!)

by Meagan Francis on November 29, 2011

We’ve all heard that we should simplify our Christmases, but it can be easier said than done. Even those of us who make a concerted effort not to go overboard with gifts can find ourselves buying stuff our kids don’t need just to have something to put under the tree. Add in grandparents, aunts and uncles and other relatives, and that “modest” gift pile can start to tower. At the end of it all, it’s easy to find ourselves looking at a pile of wrapping paper and wondering if some of that money spent could have been put to better use.

Sure, you can always give an older child cash, but where’s the fun in that? (Plus, as I’ve learned from experience, it’s only too easy for kids to pocket that $20 from Grandma, and then lose it in the wash or fritter it away on junk at the corner store.)

Even a small portion of the money you spend on holiday gifts could add up to big savings – and progress toward big goals – if it’s tucked away, but that’s often easier said than done. That’s why I’m excited to partner with Kidworth, a new site dedicated to helping kids share, save, and spend with help from parents and other supportive family members.

Here’s how it works: Parents register a free account and set up a page for each child with that child’s financial goals (buying a bicycle, starting a college fund, donating to a favorite charity, etc.) Then, parents can “share” those goals via email or social networking sites like Facebook with relatives and friends. For holidays, birthdays, or just because, your friends and family can help your child work toward his goal by purchasing a gift card. You can also pay for chores and allowances via a Kidworth gift card and the money will go into your child’s Kidworth account. Parents are notified of any gifts via email, and the funds can be withdrawn (via a mailed check) at any time.

I love that Kidworth lets kids follow along – and get fired up! -as they get closer to their financial goals, and provides an organized and trackable method for parents and relatives to give without worrying that that $20 will be stashed in a pocket, never to be seen again. Plus, since getting the money out involves a bit of a wait (plus permission from Mom and Dad) it’ll curb impulse spending. Even if you don’t want to ask your great-aunt Agnes to switch from her yearly Christmas cash-in-a-card to a Kidworth gift, you can easily deposit some of the cash and then “gift” it to your child’s account. The point is that Kidworth gives you a mechanism for keeping it all organized and helping your child set and stick to short- and long-term financial goals. Talk about a gift that keeps on giving!

As a gift to one of you, I’m purchasing a $25 Kidworth credit to get one of your kids started toward a savings goal. Here’s how to win:

  • To enter, simply leave a comment with a valid email address (in the email field, not in the body of the comment.)
  • For up to 3 extra entries:
    • Tweet about the contest, then leave an additional comment letting me know you did
    • Share the contest on Facebook, then leave an additional comment letting me know you did
    • Register a Kidworth portfolio, then leave an additional comment letting me know you did. Note: they’re running a great Facebook deal right now; the first 100 people to sign up will receive a $10 credit. Follow this link for details.

Contest will close at 1:00 PM EST on Saturday, December 3. Winner will be selected randomly using the “And The Winner Is” WordPress plugin and published on The Happiest Mom by Sunday, December 4.

All entries will automatically be included in this weekend’s drawing for a Motorola Droid Razr!

Good luck!

I’m working with Kidworth on a series of sponsored posts, but all words opinions – plus the $25 giveaway prize – are from me.

To welcome the holiday season, I’m giving gifts away for six days with a great grand prize drawn from all entries – a Droid Razr! Check out the intro post for more details, and Day 1′s post for a chance to win a $25 iTunes gift card.

Melissa@HomeBaked November 29, 2011 at 2:31 pm

Thanks for sharing this! Our kids have some saving goals, and this looks like a great tool for us to manage them.

Melissa@HomeBaked November 29, 2011 at 2:32 pm

I registered portfolios for all my kids! Thanks again!

Steph November 29, 2011 at 2:41 pm

Great idea for teaching kids financial literacy skills, which are sadly lacking in much of our society today.

heather bell November 29, 2011 at 4:23 pm
Clover November 29, 2011 at 5:06 pm

Good idea! I’m sick of seeing my daughter’s extra $20 evaporate into a lot of gum wrappers around my house!

AlaskaTeacher November 29, 2011 at 9:17 pm

I love the idea of kids working toward financial goals!

Mrs. L November 30, 2011 at 6:51 am

Never too early to add to the college fund!

c November 30, 2011 at 8:33 am

Great idea – thanks for the opportunity!

Sarah November 30, 2011 at 10:41 am

What a great idea!!!

Sarah November 30, 2011 at 10:42 am

Im a subscriber!

Marcy November 30, 2011 at 11:06 am

Thanks for this post.. I am very interested in learning more about Kidworth. I forwarded this to my husband as well. We have an 8 year old that is quickly learning about the value and importance of money. This could be just the thing to help with teaching her to be responsible! I look forward to your future posts on Kidworth!!

Melissa November 30, 2011 at 11:18 am

What a fantastic service! In addition to opening ones for the kids I may do one for our adult goals. It may finally be the method to get me to save for our new furnace and other needs. I just can’t seem to get engaged in savings.

Jen November 30, 2011 at 11:30 am

Thanks for the contest! Love this idea!

Melissa November 30, 2011 at 11:31 am

Just registered a new account through the FB link. Thanks!

Dana November 30, 2011 at 11:32 am

I really like this idea. My kids have bank accounts and piggy banks but this has the added benefit of providing a GREAT way to have others contribute to worthwhile gifts that might be out of one persons price range.

Ella November 30, 2011 at 11:34 am

This is a great website. Thank you for sharing! :)

Julie November 30, 2011 at 11:07 pm

What a great idea! It could lead to a few less stuffed animals around the house, since that is what my daughter always wants to spend her money on.

Lynda Q November 30, 2011 at 11:44 pm

This is a great idea. Thanks for the giveaway!

GabrielleIvan December 1, 2011 at 2:03 am

Thank you for sharing this idea! 25% is a great discount!

Becky December 1, 2011 at 7:32 am

Interesting. I’ve never heard of this before.

Brenda December 1, 2011 at 11:38 am

Perfect for my little saver. She’s only 11, but is determined to save for college. :-)

Crunchy Con Mommy December 2, 2011 at 12:25 am

My son is too young to articulate any financial goals yet (although he keeps repeating the line “no money, no tickets!” from the animated Frosty the Snowman” movie, lol) but I think it’s a great idea for older kids.

Mary December 2, 2011 at 10:46 am

Happy to know of this site – thanks!

Stephanie December 2, 2011 at 12:51 pm

Great idea! Reminds me I should also set up a 529 account for my kids…

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