Save, Spend, Share

Save, Spend, Share is a system of teaching money management skills to children. It involves dividing an allowance payment into three categories -- saving, spending and sharing. The Save account teaches your child to put money away for future use or to pay themselves first. The Spend account tracks the amount of money that your child is able to spend within the guidelines of your family. Finally, the Share account tracks the amount of money that your child would donate or share with the charity or religious organization that your family chooses. It reinforces the habit of "paying it forward".

MoneyTrail’s Save, Spend, Share option provides this money management technique for families. You can choose to have your child’s allowance automatically divided into a Save Account, a Spend Account and a Share Account. You choose the amounts for each category. For example, if your child normally gets $10 per week for allowance, you could choose to divide it this way:

• $5 into Save Account
• $4 into Spend Account
• $1 into Share Account

Please note that MoneyTrail does not handle "real" money. We are a virtual money tracking system to keep up with the financial transactions between parents and kids. MoneyTrail will virtually “deposit” these amounts into your child’s accounts each week or each month so that you never lose track of how much allowance is owed or when it was last paid.