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Best Guide On How To Use KiDebit to Educate:
Smart Money Smart Kids: Raising the Next Generation to Win with Money

Parenting Tip page is a collection of lessons, thoughts, real world examples of how KiDebit helps parents make their kids smarter about money! If you have an experience you would like to share with us about your KiDebit learning activities, please send us an email at

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I’m currently reading Dave Ramsey and Rachel Cruze’s book called Smart Money Smart Kids: Raising the Next Generation to Win with Money and below you’ll find a list of key learning points discussed in the book that demonstrates exactly how KiDebit really works to educate! Everything about KiDebit can be related from its creation to how KiDebit helps children learn about money. As I read each chapter, I’ll document specific points where KiDebit supports their books values, principles and has helped my own family learn important lessons about the value of money and the life lessons kids should learn early on about the real world.

KiDebit is the best educational tool that compliments the lessons taught by Dave Ramsey and Rachel Cruze in their Book “Smart Money Smart Kids”

Here’s How:

Point #1: Starts with the Title KiDebit’s original slogan created early 2013 by my friend Robin was “Smart Money for Smart Kids”! Considering all the names we could have picked, we picked the one phrase a year before Dave Ramsey and Rachel Cruze chose for their book title. It makes perfect sense too! KiDebit isn’t just an allowance manager, nor were we trying to be a chores and task payment manager for kids. We wanted to give kids something tangible and “money like” but better than a dirty dollar bill. We gave them a KiDebit Card or “Smart Money”. We also knew this was for Kids to make them Smart about money! So, Dave and Rachel, we concur the book title is perfect!

Point #2: Pay Commissions and Pay Immediately
One thing I realized when I was originally paying my kids an allowance was, I never wanted to make it seem like I was giving them an option to do family chores. The book describes exactly where parents should draw the line between family obligations and work. You pay kids for work (a commission, not an allowance), because it enforces a strong value in work ethics and what can be earned in life if you work hard for something. One problem I had was actually making the payments! I rarely had cash on hand, and if I did, it either wasn’t enough or was too much. Sorry, I’m not handing out $20 dollar bills for raking the leaves. A critical point their book made was, the younger the child, the quicker you pay them in order to associate the accomplishment with the earnings. KiDebit is a perfect solution to help solve this problem because the parent doesn’t need cash, but the app provides a feeling of gratification when adding the money to their account and watching their balance go up. **Thank you Moment** We are updating our app to include a better graphical visualization image of that “jar” of money growing. I don’t want to spoil the surprise, but it is going to be AWESOME, fun, and very creative. ***Thank You Rachel and Dave***

Point #3: Pay in 3’s Saving, Buying and Giving

Parent Shared Story #1 – Strategic Spoiling

My wife today explained to me how she felt guilty about “charging” or forcing the kids to buy some candy with their money using KiDebit, because she loves them and wants to say Yes! Feeling as though she should sometimes just buy them what they want. This brings up a common issue parents sometimes face, ignore or abuse. Can you spoil your kid? If so, how much is too much and when should you draw lines of financial responsibility and at what age?
She was pretty blunt to just say, I want to spoil our kids, because it makes her feel good to give them what they want. After thinking about this some more, I realized that what she wants is to express her love to them, and make them happy. I get it, as a father, and raising two girls. I love to spoil them rotten and have them call themselves Daddy’s Little Princesses. But why not make them happy and teach them a little about financial responsibility at the same time? I explained to my wife, that providing the children with something they want, using their money, is like the game monopoly. I don’t really want to charge them rent, or make them go bankrupt when they land on my hotel on boardwalk. But, that’s the game and in some ways, that’s a lesson for the kids to learn and get better strategically with their monopoly game investments. Why is the real world that much different? The money they use wasn’t earned necessarily through any “real” sacrifice. I mean, sure they fed the dogs, water the plants, took out the trash and occasionally just earned a $5 spot for good grades or being an awesome kid -Strategic Spoiling! When the child wants some candy, let them spend “their” money and you’ll see how the children still experience the happy emotions and sense of gratitude about being permissible to purchase candy. It’s natural to want to spoil your children and by all means spoil them while they are young and while they can actually appreciate a $5 commission. Buy them the candy, by rewarding them some cash first! By providing an extra $5.00 for helping with something out of the ordinary at home or a surprise $2 for getting an A on an assignment, you can enforce positive rewards and at the same time, enable them to “spoil” themselves and by that candy. So my Parenting Tip #1 is to allow yourself to spoil your kids indirectly. You won’t always say yes to candy, regardless if they have money or not, and when you say yes, you can always help enable them through positive rewards that help fund the smaller gifts they want to purchase. Remember, you always can buy them a gift! Especially if the gift is something they didn’t just ask for, because if you buy children everything they ask for, its no longer gift giving, its spoiling. Use KiDebit to your advantage, spoil them strategically and support their financial education.

Parent Shared Story #2 Empower Your Child

(Buy Real Apps)

Story #2 was introduced to me when my younger daughter asked to buy a virtual cake pop add on to a free app she was playing on my ipad. In a parenting Dad auto robot voice, said “no”. Two minutes later, the same daughter appeared with the ipad and this time, her KiDebit card. I have to admit, this totally caught me off guard and I had to fight the urge to just say No, again. Instead, she made me realize through her challenge, that I should indeed empower this child to make her own financial decisions. If she believes this $5 virtual cake pop add on was worth it, and she checked her balance, and wants to spend her money on this product. Then by all means, if it doesn’t jeopardize her health or kill brain cells, then why not! It’s the opposite of spoiling, its actually saying YES, when you wanted to first say no. Here’s the real kicker in parent tip #2. Five minutes later, her older sister came in with her card and another app and requested in almost amazement to buy another app of our own. I saw that she too was testing the system and saw by younger sibling example, this KiDebit card has some real value! Real empowerment to spend their money! They both love the purchases they made and a surprise to me which I would have never appreciated or discovered about those virtual addons. The kids definitely got their $5 worth of fun out of the apps, and it only occurred after I empowered them to make their own purchasing decisions. Plus, what a cool way to allow your kids to buy all those apps and virtual app add ons that you wouldn’t want to waste your “adult” money on. Yes! It is true, your kids want to play with different things than you do and still want to buy stuff on the appstore. But I would definitely stick to KiDebit and make the app store transactions with your apple id -don’t give them their own apple account just yet.

Parent Share Story #3 Parents Share Goals with Kids

Story #3 is all about supporting your child’s goal creations with KiDebit. It turns out kids change their mind often about what they want to buy in life. Not a real surprise to many of the parents out there, but its good to allow your child to set their own list of goals and prioritize those goals, and allow them to contribute their own virtual money toward the goals they want to save up for. Additionally, goals could be something they want to buy for a friend or relative too. What I decided to do for my kids, especially if they wanted something that was more expensive than what they could REALLY afford with their below minimum wage commission, I would tell them I would pay a certain percentage of the goal if they reached a certain amount first. This was a great way to weed out the goals that were spontaneous, commercial and the kid down the street had toys, from the toys, gifts, or things they really wanted and were willing to sacrifice some of their hard earned cash to save up for. Using goals as an incentive to save with help to meet a goal, is gratifying for the child. It makes the child feel accomplished and more importantly, appreciate how much that other percentage you contributed really meant in relation to the value of money.

Story #4 Here’s what KiDebit can TeachYoung Kids About Budgeting and Money

1. Saving money now means something in the future.
2. There’s never enough money to buy everything you want.
3. You have to prioritize.
4. Sometimes you have to wait before you can have something you really want.
5. Keeping track of your money gives you power.
6. Spending less on things means you have more money for other things.

KiDebit supports University of Cambridge Money Advice about “Habit Formation and Learning in Young Children”

Promotes mom and dad financial imitation with our kid card innovation

The kid card helps the child imitate mom and dad’s “debit card” usage in the real world, with their virtual account. Kids scan it and in the near future, swipe it to obtain their virtual balance, which is what they see mom and dad do all the time.
It ties together a physical activity for induction and their experience in scanning the card, adding and deducting virtual money helps promote what happens in the real world with digital bank dollars and debit cards.

Four Year old children can use it.

Our innovation can work with a 4 year old because a 4 year old now can check their balance, without a complicated username and password. They can literally use their self printed kid card to check their balance. It’s fun and most of all, it is motivating for them to have some self-efficacy with their actions. The card pushes their interest and engages them early on while also enabling them to have a feeling of self-determination. (It’s all about the card and the fun easy use of the app that promotes all of this).

Enables and improves a wide range of parenting practices and styles

The app also helps improve parenting practices and works with a variety of parenting styles because we make it easy enough for a disregarding parent to the child to use the core basics of the app, but we also contribute an aspect of the learning experience that empowers parents who push high demands and responsiveness for their child.

Encourages positive habits of self regulating and financial understanding

KiDebit supports their financial understanding by allowing a child to know their balance while they are out shopping with their parents and it enables parents to allow their children to spend money on the things they want. Kids who use this system find an enjoyment in what they are doing with their parents, and learn quickly the value of money as it relates to what they can afford over time and with earned money through working. It’s pretty awesome how motivating young children can become about finance. The app gives them counting concepts, conservation, concepts of earning and income and like you said “by four or five years, children understand they need to pay for merchandise they want” and don’t necessarily need to understand the specific values of coins and dollars to learn this lesson.

Enhances young children’s ability to make good choices.

Our app allows a child to set goals, plan ahead and again, by empowering the child to always understand their balance and the ability to easily view their balance by scanning a card they take ownership and pride in. They are learning the concept of future savings equals future tangibles they want to get.

My Kids don’t beg anymore for things.