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Use Reimbursement Deals to Build Better Behaviors

Reimbursement request for book

One of FamZoo’s best educational and behavioral tools is hiding in plain sight.

It’s the reimbursement button, and only 18% of our families have found this little gem.

Most parents never see it because it’s only visible in the child’s view. Each purchase transaction has a little curved arrow button beside it. Kids can hit the button to request a reimbursement from a parent.

Why is the reimbursement button such a great opportunity?

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What Happens To The Chores Your Kid Ignores?

Chore Expiration Settings

What happens to a chore that is never checked off? (You know, like every lonely chore ever assigned to a rebellious teen.😬)

In FamZoo, the neglected chore either hangs around forever or expires.

For a chore to expire, you must explicitly provide an expiration timeframe when setting up the chore. Look for the Expires setting when creating or editing your chore checklist item. Fill in the number of days after the due date when expiration should occur.

Without expiration settings, neglected chores can really pile up on your checklists, causing important upcoming chores to get buried in the “All Open” view.

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THE Right Way For Kids To Earn Their Keep

Child washing FamZoo car

Kim B. sparked the hot discussion in the parent community this month with this question:

“I’m curious how your kids earn money. I feel like dishes, bathrooms, etc. are just part of living here, so I don’t want to pay them for it. But I’m struggling to find ways for them to earn money.”

Scores of parents weighed in with a diverse set of ideas.

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Split happens. Kids learn.

Spend, Save, Give Split Chart

Splitting funds between accounts earmarked for specific purposes is a valuable personal finance habit to learn.

New Year’s is the perfect time to introduce splits to the kids — or to revisit allocations if you’re already splitting.

Not using splits yet?

Consider adding another card for your child dedicated to something other than spending. Maybe an emergency fund card, or a charitable giving card, or a long term savings card with a generous parent-paid interest rate.