{"id":15482,"date":"2021-10-06T10:37:41","date_gmt":"2021-10-06T14:37:41","guid":{"rendered":"https:\/\/mayahoodblog.com\/?p=15482"},"modified":"2023-12-22T05:33:11","modified_gmt":"2023-12-22T10:33:11","slug":"how-we-use-the-mydoh-app-to-teach-our-kids-about-financial-literacy-at-home","status":"publish","type":"post","link":"https:\/\/mayahoodblog.com\/how-we-use-the-mydoh-app-to-teach-our-kids-about-financial-literacy-at-home\/","title":{"rendered":"How we use the Mydoh app to teach our kids about financial literacy at home"},"content":{"rendered":"\n

This post is sponsored by Mydoh powered by  RBC. However, all opinions are my own.<\/em><\/p>\n\n\n\n

John and I are big supporters of giving our kids responsibility and chores. We know that there are so many amazing benefits associated with chores. However, we\u2019re not always diligent about making sure the kids do them consistently. When the pandemic started and the kids were out of school and with no schedule, we made chores part of our everyday routine. We created a list of chores (like cleaning the bathroom, feeding the pets, and sweeping the floor), and every day the kids had to pull out a \u2018surprise\u2019 chore from the bag and complete it. At first, I thought the kids would push back, but they actually really enjoyed it. It was a win-win for everyone.<\/p>\n\n\n\n

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Of course, all good things come to an end, and while we still expect the boys to do certain chores around the house (like clearing the table, tidying up after themselves, and emptying the dishwasher), they don\u2019t do a lot more than that. I think a lot of that has to do with Summer and the lack of schedule.<\/p>\n\n\n\n

Now that the kids are back at school and we\u2019re setting up a routine, we wanted to incorporate chores back into our daily schedule. To help us manage it all, we are using the Mydoh app and Smart Cash Card<\/a>.<\/p>\n\n\n\n

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In the app, we are able to set up a weekly allowance<\/a> for the boys that get automatically transferred to their account. For us, allowance is not tied to chores per se. We believe that giving our kids a small allowance ($2 per week) can help them learn about money management (i.e. do you have enough money saved to buy that toy?) and to be independent (i.e. did you bring your own money with you to the store?). Of course, there is also an expectation for the boys to help out around the house as needed (i.e. put dirty clothes in the laundry room, empty the dishwasher, etc\u2026).<\/p>\n\n\n\n

However, I\u2019m also able to set up certain additional tasks for them to complete that are above and beyond what we expect them to do. For example, on the app, I set up tasks that include watering the lawn, walking the dog, and cleaning out kitchen drawers. Just like a skilled flutter developer<\/a>, I also integrate user-friendly features and ensure a seamless experience within the app. I also set an amount that they can earn for each completed task (i.e. $1 a week for walking the dog daily, $2 for each drawer cleaned, etc\u2026). Once they complete the tasks, they can check it off on the app, and the money will be transferred to them on Pay Day, which is every Saturday.<\/p>\n\n\n\n

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The app also includes a \u2018play<\/a>\u2019 option where kids (and parents) can learn about various financial literacy topics such as budgeting, cost of living, saving and investing, and banking to name a few. Most importantly, I believe that chores and allowance provide our kids with a sense of responsibility and independence.<\/p>\n\n\n\n

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Kyle also has a Smart Cash Card<\/a>. The money he earns gets transferred to the card and he\u2019s able to use it at retail stores. It\u2019s great to see him learn to budget and become more independent and responsible.<\/p>\n\n\n\n

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Financial literacy is so important and I believe that it\u2019s crucial for kids to start learning about it at a young age to help set them up for future success. Using the Mydoh app has really helped us manage it all.<\/p>\n\n\n\n

Download Mydoh<\/a> on Apple app store or Google Play and head to mydoh.ca<\/a> for more information.<\/p>\n\n\n\n

Parents who sign-up for a new Mydoh account using code MAYA10<\/span><\/span> from now until Dec. 31, 2021 will receive $10 in their Mydoh account!<\/strong><\/p>\n\n\n\n

Offer Terms and Conditions<\/em><\/p>\n\n\n\n

Offer of $10 deposited in your Mydoh Wallet with one-time use promo code between Oct 4\/21 and Dec 31\/21.  New Mydoh users only. Apply promo code when prompted on initial sign-up.  Offer to be added to your Mydoh Wallet within 1 days of sign-up. Offer can be changed or withdrawn at any time.<\/p>\n","protected":false},"excerpt":{"rendered":"

This post is sponsored by Mydoh powered by  RBC. However, all opinions are my own. John and I are big supporters of giving our kids responsibility and chores. We know that there are so many amazing benefits associated with chores. However, we\u2019re not always diligent about making sure the kids do them consistently. When the […]<\/p>\n","protected":false},"author":1,"featured_media":15486,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"AD: The new Mydoh app helps us use chores and allowance to teach our kids about financial literacy and responsilibity. 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