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Frequently Asked Questions (FAQ)

Getting to know FamilyMint

FamilyMint is an online money management tool for kids 6-16 where parents act as the banker.  

 
Do I need anything special to use it?  Can I use it on an Apple?

FamilyMint works on Windows, Apple, and other operating systems in any browser with Adobe Flash installed.

To install the Flash plug in go to http://get.adobe.com/flashplayer/

Here are a few links for Apple: http://www.apple.com/safari/download/plugins.html or alternatively the link from Adobe's website: http://www.adobe.com/shockwave/download/alternates/

For mobile or other devices that don't support Flash (such as an iPad), use FamilyMint mobile available at http://m.familymint.com.  The mobile version does not require Flash.

 

The application doesn't fully display or appears to be cut off.  What's up?

Make sure the zoom level of your browser is set to 100%.

 

How do I add another banker?

Refer to the Create User - Setting up a Child or Banker to use FamilyMint help topic for information on creating a new banker.

 

Can I edit a transaction once I post it?

No.  Just like an online bank, once it's out there, you can't edit it.  However, a child can cancel a transaction if it was made in error.  The banker can deny the transaction too if approvals are turned on.   This way, there is always a complete history of everything that happened in your bank.

 

How does the child get to spend the money?

Ultimately, the goal of FamilyMint is to learn how to plan ahead and budget for the things needed or wanted.  Once a goal is achieved, the child makes a withdrawal from FamilyMint, and the parent either gives the cash to the child or, if purchasing online, makes the purchase for the child.

What about those spur-of-the-moment purchases?  You can simply give them the cash when they need it for purchases, and have them deduct it from their account when they get home.  No more lost money and no more tears at the store because their money was left at home.

It is better for them to learn from poor money decisions now than later in life.  Let them make some mistakes.  The great thing about FamilyMint is their spending and saving is transparent.  With your guidance they will start to realize that spending $5.00 on a rash purchase will only make reaching their goals that much harder.

 

How do I upload a custom image in FamilyMint?

Refer to the Custom Image help topic to find out how to upload custom images for profiles and goals.

 

What's that Refresh button do?

If the banker and the child are both online at the same time and both making changes to the same profile or account, hit the Refresh button to bring in any recent changes made by the other user.

 

Can I lock a goal without matching it?

Sure!  Locking and matching go together.  On the Edit Goal window, select "Yes" next to "Match this goal" but leave the matching amount at 0%.

 

Why do you ask for birth date, zip code, & gender for child profiles?

As parents of young children ourselves, we take privacy and security very seriously.  Zip code is requested so we have an idea of where the user is located.  Different countries, as well as different states in the US, have varying regulations about the collection of any data from users, and the collection of zip code allows us to meet those regulations.  Birthdate is important for the same reason.  For example, we don't allow any user under the age of 13 to enter an email address which helps meet the requirements of the U.S. COPPA legislation. Gender is helpful to us to analyze usage and ensure both boys and girls are equally getting value out of the application and may be helpful for personalization options in the future. For more information on how we treat personal information please see our Privacy Policy.

 

Do you have a mobile/iPhone/Android app?

Yes!!  And it works with any phone or device with an internet browser.  Just browse to http://m.familymint.com from your mobile phone.  See the details here.

 

I have a Free subscription and I'd like to upgrade to a Premium subscription.  How do I do this?

Sign into your parent/banker account and hit any one of the Upgrade Now buttons. 

 

How do I update my credit card?

Sign into your parent account, select Settings at the top of the screen, then click the Manage Subscriptions button.  You can update your credit card information from the next Account Details screen. 

 

How do I cancel my Premium subscription?

First, we want you to know that we're sorry to see you go!

FamilyMint has won the Mom's Choice Award, the Parent's Choice Award, the prestigious Excellence in Financial Literacy Education (EIFLE) award, and tons of positive testimonials from parents that see a real change in their children.  Premium-only features such as Allowance and mobile access make our lives as parents easier and the Savings Plan can help your kids grow to think budgeting is simply a normal way of life without using the "b" budget word.

If you still want to cancel, sign into your parent account, select Settings at the top of the screen, then click the Manage Subscriptions button.  You can cancel your subscription from the next Account Details screen.

 

Premium for Life accounts

If you have a Premium for Life account, you will still see the Manage Subscriptions button (which is for managing recurring payments) but it will no longer apply to you because you have been granted access without expiration and without any recurring fees.

 

Can my child use FamilyMint without my involvement?

Yes, kids can use FamilyMint to track their own money without parental involvement.  All the parent has to do is turn off all approvals (under Bank Settings).  Any transaction entered by the child will from then on automatically be approved.  With this setup, kids hold the cash, but track it in FamilyMint.   There would be no real money being exchanged between you and you kids.  Parents can still take a look when they want to see what their child is up to and provide some guidance.

 

Can I use FamilyMint along with my children's youth savings accounts?

Absolutely.  In fact, we encourage you to do so!  See this topic for a short how-to.

 

I have an idea for you.  Where can I submit it?

Please send us your input, feedback, ideas, & suggestions here.  We'll love you for it!

 

Still wondering about something? 

Check out our help resources for more information!

2 Comments

  • Avatar
    Linda Doe

    Can I add a list of chores and pay my child for doing them?

  • Avatar
    FamilyMint

    One of the reasons FamilyMint has won awards and gotten so much positive feedback on ease of use is we've driven hard to deliver the core financial literacy funcationality for young kids without adding a lot of complexity.  It's easy to add functionality, but each layer of funcationality adds complexity that can drive away users that don't need or want that complexity (Quicken for example has struggled with this).  With this said, FamilyMint does not provide full chore management functionality built-in right now.  We have received a couple request for it, but many parents find it's easier to keep this outside of an online tool.  As an alternative and to pass along an idea... what we do (personally) is keep a list of opportunities to earn extra money on a list hanging in kitchen for all the kids to see, and then they submit it for approval in FamilyMint when complete.  It keeps the list of chores front and center in the kitchen, and FamilyMint is used to track and reward what has been completed... which is what FamilyMint does best.  Hope this helps!

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