More Web sites for teaching kids about money

Last week's column kicked off a review of some Web sites that teach children about money. The designated reviewers are my wife, Stacey, and my 8-year-old daughter, Emma, who spent several hours on the Internet as my research assistants.

We've already read their impressions of the YouthCents site of Deseret First Credit Union and the Early Earners site. This week, we'll move on to a couple more.

• Wells Fargo, www.handsonbanking.org. This site is available in English and Spanish and is designed to "engage and educate children to young adults and older adults about financial matters in a fun way," according to the Wells Fargo employee who sent me an e-mail about it.

Stacey said the questions posed on this site were a little confusing at times, but it offered hints and a second chance to answer correctly, so she and Emma had fun.

This site also let Emma try her hand at making her own budget. She included as income her $12 monthly allowance and $5.50 she plans to try to make by completing extra chores, with $1.75 for donations and $5 for "fun stuff" as expenses. She also took a quiz and was rewarded with a certificate of completion that she was able to print and keep.

Perhaps the best feedback she provided after looking over this site, however, centered on credit cards.

"This one was about how to manage money and checks and all the other stuff grown-ups use like credit cards," Emma said. "I think credit cards are cool but bad at the same time. If you use credit cards and you don't pay enough each month, the bank charges you interest, and I don't like that. It's bad. Very, very bad."

Now that's a lesson we all need to remember!

• Prosperity4Kids Inc., www.Prosperity4Kids.com. According to the Web site, Lori Mackey founded this company "on the premise that kids can be empowered to have true wealth — the freedom to have jobs they are passionate about, the financial ability to support causes they care about, and the security to see them comfortably into retirement — if, and only if, they are taught by doing at a young age."

On this site, Emma took a survey about money, which asked questions like, "Where does money come from?" Emma's first answer was, "A mint." But then she elaborated to say, "I get it from my parents and the ground sometimes." (I assume that last answer refers to finding money, which she does all the time.)

The survey also confirmed that Emma thinks she can be a millionaire when she's older. I would definitely support that, especially if she remembers to throw some of that cash back at the folks who raised her.