Tykoon helps parents teach kids about saving and spending

heraldextra Jul 24, 2012 Back to press

Tykoon is a tool to teach your kids about saving and financial planning, and the value of a job well done.

A free download for iOS devices, Tykoon lets parents set up an account that assigns chores and jobs to your kids, assign a monetary value, or another reward, such as TV or computer time. Kids know exactly what they need to do each week to earn their allowance. Once you’ve confirmed they’ve done that chore, you can reward them. That’s certainly better than giving your kid your credit card and free reign of the internet. No more arguments about what you should buy them, now you can work with them to set up goals — they will be in control of saving their money if they want to buy a toy or game.

Your kids can also propose new tasks for themselves that would earn them money that you can then approve.

Wish lists can be used to list things kids are saving up to buy, as well as to help extended family members know what the kids want most for the holidays, birthdays and other special occasions. Parents can control what products kids can see and the store requires parental approval and participation for every purchase.

With the Tykoon Spotted iPhone App, kids can snap pictures of what they want and add it to their wish list; parents have easy access to the app for approvals and chore chart updates.

Even better than that, they can give back by donating some of their funds to charities such as the ASPCA or Habitat for Humanity.

Tykoon is recommended for kids of all ages and is especially recommended for ages 8-12. It is certified by the kidSAFE Seal Program and 100 percent COPPA compliant.

See more at http://www.tykoon.com

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