Tykoon is a free new parenting tool and reward bank to help parents teach their kids about money.
What you should know about Tykoon:
1. Tykoon is a tool for parents, that uses a reward bank app for kids to get virtual rewards for chores and tasks.
2. Tykoon empowers kids to be smart with money.
3. Parents use gamification in teaching kids money values.
4. Tycoon changes "I want" statements to "How can I earn?" questions from your tweens.
5. Tykoon is for all ages, but works especially well with 8 - 12 year old tweens.
6. When kids complete chores or responsibilities they can earn rewards such as badges, extra time on the computer, staying up later or any reward you can think up.
7. Parents can set up chore charts so that tweens know what they need to complete to get allowance.
8. Kids and parents work together to set goals and make decisions on saving, spending and giving.
9. Tweens can make wishlists with items from the Tykoon store.
10. The parent dashboard allows parents to oversee their kid's activity and use parental controls and privacy settings.
11. The kids dashboard allows tweens to set goals, track how much they've save and shop in the secure store when parents grant them access.
12. Tweens can use the iPhone app to take pictures of what they want for their wishlists.
Tykoon is running a contest with LearnVest in which you can earn $300 towards your kid's finances. Get more information about the Tykoon/LearnVest contest.
Tykoon is certified by kidSAFE® Seal Program and 100% COPPA compliant. Kids, teens and tweens loving gaming and one of the main reason is the rewards, even when virtual. Tykoon seems like a great way to teach your kids about the value of money in a fun way that they will enjoy.