I was wondering if this may be a useful service for parents.

Objectives:
* Help parents use allowence as a teaching tool for children
* Help parents moniter child's spending habits and encourage good
finance habits
* Offer an exciting, "Kid friendly", 1st banking experence

Customer:
Parents of school aged children

Profit:
Parents pay monthy membership dues to the website. I wouldn't handle actual money transactions... only keep the website.

Idea: web-based record keeping in the form of a "children's bank"

Parents buy a membership --> Using only "play money" the parent sets up an account children could use to do "banking" with their allowence.

An account could:

Monitor chores ~ A high-tech/ web-based chore chart, this way both kids and parents would have records of which chores were and were not accomplished

Set up Savings ~ A child could set aside 1% or $0.50 to give to church offering or a child could set aside money that would accumulate any interest % of the parent's choosing (7%, dollar for dollar, etc)

Print checks ~ The checks are "cashed" by the parents in the form of real money, allowing the child to get a real feel for purchasing

Summary for Parents ~ At the end of the month I'd supply the parents with a final total of how much the child has saved/spent. The parent would use this information as a "bill"/reminder of how much allowence to pay the child (or set into a real bank account). The summary would also give parents a great teaching tool to sit down and discuss with their children.

In addition to the "banking" I'd keep an updated research center. Kids can find information on money, banks, charities, and even scholarships (college and camp).



What do you all think?