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Online Piggy Banks for Your Kids

October 17, 2007

By MoneyRates Team | Money Rates Columnist

The folks at PiggyBankInc.com have set up a great online tool for parents looking for a little help in allocating allowances to their kids. The site allows parents to set a weekly allowance, interest rate, and enter deposits and withdrawals for each of their kids in separate account accessible online. No money actually changes hands between the site and their customers as it is strictly recordkeeping, but parents have the option to send weekly e-mail statements to their kids updating them on their balance. Looks like a great way to teach kids about savings (as long as they do their chores!)

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