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Zefty Manages Allowances for Kids and Parents
Posted by Kevin Purdy at 8:00 AM on June 1, 2008
Web-based account manager Zefty helps kids understand spending and parents manage what they owe the little ones. Manually or automatically "deposit" money into kids' accounts, and they (and you) can see what they've saved. If your tyke's tech-proficient, they get their own login to enter what they withdrew and why, but parents get a super-user account as well. There's also "Zefty Checks" kids can request money with, and an allowance calculator that determines a reasonable pay rate. Zefty is free to use, requires a sign-up.
Comments (AU Comments · US Comments)
CITIZENDEE
Posted June 2, 2008 12:45 PM
Hmmm, these Web 2.0 micro managing sites are getting a bit much aren't they (probably wrong place to bring this up considering someone is sure to post about how they have set up a MySQL server and command line assembly code tool to allow their children to manage this remotely).
Maybe I should fund my own startup and get a web tool going that manages how many times I wipe my backside each day. Maybe call it Ars Wipe? Or what about the Bog Roll? Then when it gets really popular it will be called "bogging"! Better get to work on a glass toilet paper icon...
Chaoticfluffy
Posted 2:13 AM 2/6/08
I'm pondering whether this might make an interesting addition to my grown-up envelope budgeting system (otherwise known as a self-issued allowance). But then, can Zefty do anything for me that Quicken can't? Ponder, ponder...
Chaoticfluffy
antineutrino
Posted 3:25 AM 2/6/08
I've set up an Excel database which calculates and graphs my entire accounts history, with options on whether to include my income, expenditure and/or allowance in the calculations and graphs. Thus I can set it to graph only expenditure, or only income, or any combination. It gives me far more control than what any of these online budgeting systems provide, plus I can simply code in any features that I feel are missing.
antineutrino
kyel57
Posted 3:55 AM 2/6/08
@antineutrino:
But the fact is I didn't understand most of what you just said...so this could be a good tool for a common person to use.
kyel57
phoenix
Posted 9:50 AM 2/6/08
This isn't really a tool for personal budgeting - I did a review over here last week: [www.appscout.com]
The point of the service is to kind of create a virtual bank for your kids to learn how to withdraw and deposit money into. Like the post above says, kids can learn how to withdraw (they come to you for money and you update their Zefty account, which they can log into at any time) and learn to track deposits (when they get their allowance, it goes straight into Zefty).
There are tools in the service to help you calculate a reasonable allowance based on your household income, but nothing that would really help a grown up with a serious budget - especially since you have to enter transactions manually.
phoenix
dunn_blue72
Posted 7:35 AM 2/6/08
@antineutrino:
I would like to see a blank copy of that spreadsheet if possible. I've been looking for something very similar but have not been able to put one together myself. I have just began to use mint.com in order to see graphical results of my money management. Please send it to tylermdunn at gmail dot com
dunn_blue72
pezdaddy
Posted 12:09 PM 2/6/08
Not that this would be the ideal way to do it, but if you are on the envelope system, each kid could be an envelope.
I've got a nifty spreadsheet that I use for envelopes, but this could work for some people if they like that kind of thing.
pezdaddy
jedipunk
Posted 9:36 PM 2/6/08
We just use the check registers that come with check books. Each kids has their own and we track the credits and debits.
jedipunk