DoughMain.com Uses Tools and Games to Help Families Manage Money Online

By Rachel Schramm - 16/02/2012 07:00:00

DoughMain.com integrates financial innovation with the family sphere. It's a website designed to help families stay organized and educate children about money. Their innovative approach lets families manage all their finances holistically online. Parents track their expenses, coordinate their bank accounts, and teach children and teens about financial responsibility through educational games.^[1]

 

 This approach, which helps an entire family prepare for their financial future, could be the next step in financial innovation. Industry leaders may want to keep an eye on DoughMain.com's success and follow their example in financial education. Online banks may start to use this model to help their customers educate themselves and their families about financial responsibility. If DoughMain.com's approach works, tomorrow's youth will have key financial management tools ingrained in them, making them better equipped to take care of their money as adults. 

 

Since the recent economic crisis, it has become increasingly important to teach young people  how to control their funds. Online money management might be just what today's youth need to stay on top of their finances. Read on to discover how DoughMain.com is accomplishing those goals today.

  

Tools for Parents

 

DoughMain.com provides parents with useful money management tools that are available online and reward their children for good financial behavior.  

 

- Bank Link:

 

This tool allows DoughMain.com users to connect all their bank accounts, so they can easily see their balances right on DoughMain.com. Kids and teens can also use this tool to can check their own account balances without having to access their parent's information. This interconnectivity allows parents and children to work together to budget their money, learning about personal finances as they go.^[2]  

 

- Allowance Tool:

 

Parents who have trouble keeping track of their children's allowance will find this tool particularly useful. It's an online money management tool designed to help them personalize and track allowances for each child.^[3] The Allowance tool also lets parents reward their children with either cash, or "Dough Points," DoughMain.com's virtual currency. Kids can save up their Dough Points to make "purchases" from the Privilege Catalog, a list of rewards that parents customize so their child has a set of goals to work towards.^[4]

 

- Online Family Calendar:

 

A tool available on mobile devices and online, the Family Calendar allows families to plan for expenses as a whole. Whether it's saving for a family outing, or budgeting for a major expense, this tool gives entire families the opportunity to participate in online money management.

Tools for Kids 

 

By helping parents teach children about personal finance early on, DoughMain.com may help improve the economic outlook of the next generation. Their online tools, designed by teachers and financial advisors, take an innovative approach to financial literacy and education.

 

- I Rule Money:

 

This interactive part of the website addresses teen money issues without speaking in a parental tone. It features brief videos of friendly teens explaining basic financial topics that are essential to the transition from childhood to financially independent adulthood, like how to save money and handle bank accounts, as well as managing college loans, apartment bills, taxes, and even investments.^[5]

 

- Sand Dollar City:

 

Kids 8 and up can use this underwater adventure game to gain financial literacy. It's quests and challenges are designed to keep children engaged as they learn about earning, spending, budgeting, banking, and debt.^[5] 

 

- The Fun Vault:

 

Younger children can use The Fun Vault to play educational financial games designed by elementary and middle school teachers. They teach children about money basics like coin and bill recognition, budgeting, and how to make change.^[5]

 

DoughMain.com takes pride in the security of their website. They recognize how important it is for families to keep their information safe online. That's why they securely store their users' data and take other rigorous safety precautions to comply with the Children's Online Privacy Protection Act.^[6] 

 

 

References

 

[1] "Free Financial Tools for Kids at DoughMain.com." Finances Your Way. 10 02 2012: n. page. Web. 15 Feb. 2012. <http://finances.yourway.net/free-financial-tools-for-kids-at-doughmain-com/>.

 

[2] "Connected Bank Accounts." DoughMain. n.d. n. page. Web. 15 Feb. 2012. <http://www.doughmain.com/odmpublic/saving-spending/savings-accounts-for-kids.php>.

 

[3] "Organize Your Family With DoughMain." What's That Smell?. 12 02 2012: n. page. Web. 15 Feb. 2012. <http://accidentalmommies.com/organize-your-family-with-doughmain/>.

 

[4] "Allowance Tracker and Rewards." DoughMain. 12 02 2012: n. page. Web. 15 Feb. 2012. <http://www.doughmain.com/odmpublic/family-organizer/allowance-tool.php>.

 

[5] "Money Games." DoughMain. n.d. n. page. Web. 15 Feb. 2012. <http://www.doughmain.com/odmpublic/money-games-for-kids/>.

[6] "Our Mission." DoughMain. n.d. n. page. Web. 15 Feb. 2012. <http://www.doughmain.com/odmpublic/mission/>.