Teaching kids to be Financially responsible with #virtualpiggy

My children all have cell phones and have access to our laptops and iPads. Because of this we have discussed the possibility of purchases made while online. It is important to be teaching kids to be financially responsible. Often kids do not realize they are buying a game or an app because it is so easy to do so these days. Many parents like me have their accounts already linked and authorized for purchase. If your children are online and you worry bout them making purchases you will want to check out Virtual Piggy. See info below.

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What is Virtual Piggy?

Virtual Piggy is the safest way for children to save, spend, and give online.

How Does it Work?

  • A parent registers their account, providing information such as their preferred credit card for future purchases, and a shipping address.
  • Then, the parent can create accounts for each of their children and establish detailed parental controls (such as approved merchants, transaction limits, levels of transaction approvals).
  • Because financial and shipping information is stored in the parent account, the child never has access to it.
  • The child is then able to check out at Virtual Piggy merchants, using only their username and password.

What Controls Do I Have?

Virtual Piggy provides you with lots of options when it comes to controls on your child accounts.

  • You can set monthly allowance amounts, savings targets and charity goals.
  • You also have the option to require approval on every purchase your child makes, or just some of them.
  • You can set a maximum limit per transaction, per day or per week, or restrict which merchants your child is able to shop at.

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How Does Virtual Piggy Teach Financial Responsibility?

Research shows that teaching financial literacy for their kids is a major concern for 97% of parents, but many are not sure how to start. By using Virtual Piggy, you can empower your child to make his or her own financial decisions within the budget and controls you set up. It’s a great way for parents and kids to sit down and discuss how to manage their money.

The child has to balance spending and savings goals, and can always see their purchase history. By putting your child into a real world environment where they’re able to make their own purchases, you’re giving them their first experience with managing a budget while keeping them within your boundaries.

Where Can My Child Shop With Virtual Piggy?

Virtual Piggy can be used at merchant websites that have integrated with our payment option – they go to great efforts to cultivate family friendly partners. You can visit their merchant page to see the full list.

Virtual Piggy also offers an online store with gift cards from major brands, such as Papa John’s, Foot Locker and Regal Theaters. Many of these gift cards can be printed and used at regular stores.

They are growing, and are signing new merchants every week.

What is the Win Your Wishlist Sweepstakes?

The Virtual Piggy service includes a Wishlist, where each child can add the products they want to either save up for, or receive as gifts. As a parent, you can always view their Wishlist, and can invite extended family and friends to view its contents (and buy as presents if they’d like!)

To celebrate the holidays, they will randomly select ten children to win the contents of their Wishlist (up to a value of $500). Families can gain extra entries by sharing Win Your Wishlist on social media, and getting friends to register and join.

Win Your Wishlist starts on November 12th, ending on December 14th. Please visit www.virtualpiggy.com/wishlist to see more

What is the Member Value Program?

Through their relationships with family friendly merchants, they are offering hundreds of dollars in discount holiday promo codes to families when you sign up for Virtual Piggy. Once you log in with your Virtual Piggy username and password, you’ll be able to see all the promo codes. This page will be updated regularly throughout the holidays, so keep checking back!

Note: The Member Value Program starts on November 12th, ending January 15th (though some offers will start or end sooner).

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How Can I Learn More?

www.virtualpiggy.com. Twiter @followpiggy and Facebook

 

disclosure-This is a sponsored post from Splash Creative Media on behalf of Virtual Piggy. All opinions are my own. 

Comments

  1. What a great idea! Love this! Such important learning. __Kerrie _www.familyfoodtravel.com

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