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FamZoo

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On the Stacking Benjamins​ show today, Joe and OJ discuss the cringe inducing story that's been lighting up the media: 22 year old college student blows her $90,000 college fund from her grandparents on clothes, a European trip, and more. The story gets even better when her parents won't bail her out. Need a good cringe? Listen in. As Joe says, those tough money conversations with your kids can either be a series of little ones now or a HUGE one later.
https://www.stackingbenjamins.com/buy-stocks-and-never-sell-j-david-stein/
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FamZoo

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Get a monthly summary of the latest in family finance - join the FamZoo newsletter => http://us1.campaign-archive2.com/?u=0afc42d729f6e8498c07cf626&id=e52d49d82d
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FamZoo

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The average weekly savings interest payment on FamZoo cards during the month of July was 77 cents. That's a pretty solid message to a kid about the power of compound interest.
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Cool! We made this list of 10 essential apps posted on Women 2.0​
http://women2.com/2015/07/27/apps-for-entrepreneurs/?hvid=1dVQrN
Some of them are right under your nose. By Caren Merrick (Founder & CEO, Pocket Mentor). As an entrepreneur, corporate board member, and mom of two teenage sons, I have ambitious goals that motivate and inspire me. I'm always looking for opportunities to streamline my work and get the important ...
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FamZoo

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Just added a new currency format for one of our International IOU account families. Hello Honduras!
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FamZoo

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It's never too early to teach your teen about an emergency fund. Consider creating a separate savings account with a specific goal - maybe as much as $500 - that can be used in case of the big "oopsie" - perhaps that first parking ticket, or massive data overage on the cell phone plan, or...you get the idea.
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FamZoo

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Now here's an expense that the parent of a college kid typically just wants to proactively reimburse right away. Hey, maybe it will become a habit... (A parent can dream!)
See how reimbursements work here: http://blog.famzoo.com/p/famzoo-card-faqs.html#how-reimburse-work
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Have them in circles
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FamZoo

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Yikes! Student money habits are trending in the wrong direction according to a 3 year survey by EverFi and  Higher One​. "Tom Arnold, professor of finance at the University of Richmond, says the results of the Higher One survey are disappointing, but not unexpected, because —according to Arnold — the problem with financial literacy starts at home. He says teenagers traditionally rely on their parents for financial guidance and support, so they haven’t been forced into making any real financial decisions."
Indeed!
http://thefinancialbrand.com/53228/millennials-students-financial-education-literacyliteracy/
When it comes to financial responsibility, younger Millennials in college are getting a failing grade. What can financial institutions do?
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Whether Albert actually said this or not, we believe it to be true!
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A good review and summary of key takeaways from Ron's book in case you haven't read it yet ( Ron Lieber and The Opposite of Spoiled​ ) We recommend you do...good stuff!
http://awealthofcommonsense.com/how-to-teach-your-children-about-money/
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FamZoo

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This is a good list of things to teach your kids from Catherine Alford at US News. We'd modify the first one to make sure the kids know about diversified low cost index funds (rather than gambling on individual stocks). We'd add: 
* learning to pay regular bills, and
* how top open up and contribute to a Roth IRA as soon as they get their first summer job.
http://www.businessinsider.com/what-to-teach-your-kids-about-money-2015-7
There is unfortunately a significant lack of...
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FamZoo

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Requesting money from parents is easy with +FamZoo  but your mileage may vary with the approval part...
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Preparing kids for the "wild"
Introduction
We help parents teach their kids good money habits with our online "Virtual Family Bank".

Credit unions, banks, advisors: check out our co-branded Partner Edition. We have 6 ways to partner on youth financial education. Would you like a demo via a private webinar? Schedule one here.

Bloggers: check out our affiliate program. We share ongoing subscription revenue.

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Oh, and the short link to our Google+ page is: