Tykoon | Helping Kids Make Wish Money Decisions | #MoneySmartKid

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Emma has been very interested in money lately and has learned to understand that things she wants take money to purchase them. Quite often she will ask me “how many” something is and she seems to understand when I tell her. Because she is great with numbers, she knows that something that is $1 is more obtainable than something that is $100. So when I heard about Tykoon I thought it would be a great opportunity to teach her a little bit about earning and managing money.

ABOUT TYKOON
• Tykoon is a financial services platform for kids using real money and real experiences to help educate
kids on how to earn, save, give and spend.
• Partners with parents to help teach kids the family’s values about money and instill a strong work ethic.
• Empowers kids to be confident and smart with money by teaching them what they need to know.
• Changes “I want!” arguments into “How do I earn?” conversations.
• Built by parents and kids for parents and kids.
• For kids of all ages and is especially recommended for ages 8‐12

Setting up the parent’s dashboard was simple and quick and soon Emma had her list of chores to do that would end with a weekly allowance.

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Once I have Emma’s tasks set up with their values she can sign in on her side for her list of activities to do and their values.

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Although Emma is a bit under the age range suggested for Tykoon, I can totally see this as being a valuable tool as she gets a bit older. Not only does it list her chores and other tasks she can do, but it keeps track of her money and allows her to do a little shopping (on their site) through their Amazon powered store. This will give her goals (making wish lists) to work for in regards to her savings.

FEATURES
Chore Charts: Parents set up activities on chore charts so kids know exactly what they need to do to
earn their allowance each week.
Allowance Tracking: Tykoon tracks how much allowance kids get each week but only with parental
approval, making sure kids are doing what they need to do to earn it.
Non‐monetary Rewards: Money isn’t the only thing kids want. Tykoon rewards also include minutes for
TV, Internet, gaming and staying up past bedtime.
Goal Setting: Kids and parents work together to set the right financial goals like regularly saving money,
saving up for wishlist items and donating to good causes.
Wishlists: Kids choose items from the Tykoon Store to add to their wishlists. Wishlists 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.
Giving: Giving back is important so Tykoon supports many charitable organizations and works with
Network for Good to process verified 501(c)3 charity donations through the Tykoon platform.
Parent Dashboard: Enables parents to set parameters, oversee their child’s activity, assign household
chores and approve all transactions before a child makes a purchase.
Parental Controls: Over 25 parental control and privacy settings that parents can set based on personal
preferences.
Kid Dashboard: Kids can track how much they have saved, set goals and shop online in a kid‐safe,
secure Amazon‐powered store that only lets them access what parents let them access.
Safe & Secure: Certified by kidSAFE® Seal Program and 100% COPPA compliant.
Tykoon Store: Enables kid‐safe, secure online shopping. Parents can control what products kids can see
and the store requires parental approval and participation for every purchase.
Tykoon Spotted iPhone App: Kids can use the app to snap pictures of what they want and add it to
their wish list; parents have easy access to the app for efficient approvals and chore chart updates

You can even take Tykoon with you on the go with the Spotted iPhone app. If you are looking for an online chore/task/money managing system for your children I suggest checking out Tykoon!

Sign up for free and start today!

Invite 5 friends to sign up and if they stay on for one month, you will get a $25 Amazon gift card!

“I participated in a campaign on behalf of Mom Central Consulting for Tykoon. I received a promotional item as a thank-you for participating.”

Comments

  1. Sherry Compton says:

    What a great idea! My grandson is almost ready for this. They do chores at their house to earn so many points to obtain items. This would take it a step further and show how everyone has to spend money to buy things. Love the turning “I want” into “How can I earn”.

  2. Amy Martin says:

    I’ve never heard of this before. We homeschool and my son likes earning money and saving it/spending it, figuring how much he’d have in various situations, so this could be great for that.

  3. Lynnette Watkins says:

    I liked the info on Tykoon. I needed some ideas on how to teach the kids about money. Especially setting up a chore chart.

  4. Abi R. says:

    Great info! Thanks for posting!

  5. Jennifer Hedden says:

    This is so great! I love the idea of chore charts and non monetary rewards! This would be great for my nieces! Thank you for sharing!

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