Review: KidsSave by Kidnexions
Kids’ Savings and Money Management Software Program
Encourage children to develop good money management skills with this fun, easy to use software program where kids can manage their allowance and set savings goals.
Karyn and John Hodgens of Kidnexions believe that children learn best when they are engaged in interesting and relevant activities that are both fun and educational. They have applied this philosophy to KidsSave, a money management software program designed to help children manage money wisely.
Teaching Children Good Money Habits
KidsSave helps children to develop financial skills by providing them with fun, motivating activities that build good saving and spending habits. KidsSave allows children to manage their pocket money in a meaningful way, recording where they spend their money and setting savings goals.
By using this child and parent friendly software package, parents can encourage their children to become financially responsible and aware from a young age, equipping them for their future.
KidsSave Features and Benefits
- Optional PIN number access for children’s accounts.
- US, Canadian or Australian currency.
- Options for interest on savings or savings matching payments by parents.
- Option for parents to confirm all transactions on children’s accounts through Banker feature.
- Automatic allowance deposits to accounts.
- Option for savings lock on accounts at specified percentage of account balance.
- Deposits/withdrawals listed on statement.
- Pop-up instructions, icons and symbols for easy use.
- Projected savings feature from one month to 10 years allows children to see the long term results of their savings habits.
- Savings goal shows countdown to target amount and progress chart.
- Sort and count money feature helps familiarise children with notes and coins.
- What If? feature allows children to explore the consequences of increasing/decreasing their savings program.
Monitor Spending and Savings Habits
Each KidsSave program allows for multiple accounts. Parents are able to set the options for each child through a Banker account. Children can then choose their own colour profile to individualise their account.
Parents can set a regular allowance payment deposit. They also have the option of including an interest payment on savings in each account and/or a savings matching plan where parents offer to match savings amounts (several options including dollar for dollar, 50 cents in the dollar etc).
Children can set savings goals and view graphs to show them how long it will take to achieve their goal with their current savings program. They can alter figures to show what difference increased savings would make to their goal. The program only allows for one savings goal at a time.
KidsSave Version 1.2 System Requirements
KidsSave has the following minimum system requirements:
- Windows XP SP1 or greater, Windows Vista
- 300 MHz processor
- 128 MB ram
- 800 x 600 display resolution and 16 bit color
The purchase price of USD$29.95 includes free minor version and maintenance updates and free technical support. Each purchase is licensed to be used on up to five computers in a single household.
The software is available for download from the Kidnexions website (www.kidnexions.com). A free, full-feature trial download is available for 35 days. After this, a licence key is required for further use. Download instructions are clearly explained and easy to follow.
KidsSave – A Fun Way to Develop Important Money Skills
KidsSave is a user-friendly program ideally suited to achieve its aims to help children develop healthy financial habits. Kids will enjoy managing their own accounts and having instant feedback from their actions. KidsSave equips children with a basic awareness of money management that will act as a foundation for later life.
Best suited to primary school-aged children, KidsSave is useful for any children who is old enough to receive an allowance payment and could still be used through to early high school years.
