Sow.com

Raising Kids Who Give, Save and Spend Wisely

Every Saturday is payday for my kids. They earn a small commission for jobs they have around the house and divide their earnings between tithe, savings and spending.

Sow.com

My oldest son is turning 16 and will take over managing his bank account online soon. To help him get comfortable with online money management, I set him up with a Sow account via isow.com. What I love about Sow is that their mission is in line with what I teach my kids about managing money.

Sow refers to it’s youth as sowers, which I just love. As sowers, young people (or adults) are able to “save with meaning and spend with purpose”.

Sow provides three areas for sowers like my son to designate their money. They are savings, sharing, and spending.

After setting up an Sow account, my son created goals for his 3 Sow categories.

These digital categories mimic the categories he’s used to saving for already. The only difference is he can now manage them online.

Now, when he’s paid or gets birthday or holiday money, he can allocate it to his various Sow categories.

Having this account makes it easier for family and friends to get involved with helping him reach his goals. They can log into his profile using his special link, and give him money.

When they view his profile they can see exactly how he plans to allocate his money.

Current Sow goals:

1. Saving: First car

2. Sharing: Red Cross

3. Spending:

Well-meaning people love to give gifts, but may not be sure what to give. On the other hand, some parents prefer to curtail physical gifts in lieu of helping children reach monetary goals. I believe the goals they reach will have a far greater impact than a toy or digital device.

“Sow transforms birthdays and holidays to be about goals instead of goods, goods, and more goods”.

My son is saving for his first car which is a big deal to him. Our family can see that and help him get there.

While another pair of headphones would be great, he doesn’t need another pair. Almost everyone remembers their first car, but the 13th pair of headphones they got for Christmas, not so much.Saidah Washington Sow

I had the pleasure of speaking with Tanya Van Court, the brainchild behind Sow. She passionately shared her story with me, and the “why” behind creating Sow. You can read the article on Fast Company.com.

Right now you can set up your Free Sow account for yourself or your kids here.

Connect with Tanya on  Facebook or Twitter.

Filed under: Homemaking, Proverbs Wife

Comments

  1. I think it is a great idea to have your children responsible for their “wishes” and their money.

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    A Proverbs Wife Reply:

    @Amanda McMahon, Me too!! We’re great moms!

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    Tanya Van Court Reply:

    @A Proverbs Wife, Amanda! Thanks so much for the nice words. I’d love for you to try out iSow.com and let me know what you and your family think! It’s free! 😉

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  2. I think it is so important to raise children who are fiscally responsible. I started teaching my boys early about the importance of saving.

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    A Proverbs Wife Reply:

    @Toughcookiemommy, Teaching kids to save is so important. We’ve tried to make it fun with designated piggy banks for saving, spending and giving.

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    Tanya Van Court Reply:

    @Toughcookiemommy, Toughcookie! I’d love for you to try out iSow.com – it’s FREE – and would love to hear what your boys think about it! Thanks so much for your support!

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  3. Thank you so much for your post and your support of Sow! I love that your son is saving for long-term goals but also using his Sow profile to share with others!!! 😉

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    A Proverbs Wife Reply:

    @Tanya Van Court, it was my pleasure to share the site. It’s a great resource. My kids of course got some stuff this year that they could have did without, but it’s a work in progress with my family.

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  4. What a great way to teach fiscal responsibility. I hadn’t heard of this but I’ll be sharing it with my siblings so they can use it for their kids too.

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    A Proverbs Wife Reply:

    @Liz Mays, I’m working with my family to get them on board. Online stuff is a bit harder for the grandparents.

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    Tanya Van Court Reply:

    @Liz Mays, Liz, I’d love to hear what your siblings thought of iSow.com! Please send me any feedback you or they have at tanya@isow.com. I’d love to hear from you!

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  5. That is a great idea. My kids need to learn how to save their money.

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    A Proverbs Wife Reply:

    @Amber NElson, I wish I would have learned how to better manage money at their age. I spent every penny I got my hands on.

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  6. It was much easier for teens to work at a real job and earn money when I was young. I think as those jobs have gone away it’s been a disservice to our teens, and given them fewer opportunities to learn to save.

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    A Proverbs Wife Reply:

    @valmg @ Mom Knows It All, a lot of older people are starting to fill those fast food jobs previously held my the younger generations.

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  7. Teaching kids to save and give is so important. I think it also helps when kids can see parents being financially responsible, as well as giving – but actually enjoy giving/serving.

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    A Proverbs Wife Reply:

    @Chastity, I agree. We involve our kids in our financial planning when it’s age appropriate.

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    Tanya Van Court Reply:

    @Chastity, Chastity…I’d love to hear what you think about iSow.com! Let me know if you set up an account for any young people in your life (it’s FREE!), and PLEASE give me any feedback you might have! Thanks so much!

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  8. We set up a bank account for our son when he was born (a savings account, and an education account.) He is only 4, but in the past year he’s become more interested in his piggy bank and we’re trying to teach him the value of saving and giving versus wanting all of the toys. Sow sounds like a really great program!!

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    A Proverbs Wife Reply:

    @Jaime, that is so smart. We’ve had accounts for all of our children, but haven’t been as diligent at funding them in the past. We’ve gotten better.

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    Tanya Van Court Reply:

    @Jaime, Jaime! I signed my 6 year old up, and he was so excited to see his goals being funded. I’d LOVE for you to set up your 4 year old (it’s free!) and let me know what he and you think about it! I’m at tanya@isow.com.

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  9. YOU are soo soo soo very smart to do stuff like this! We need to educate the young about money as soon as they know how to count!

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    A Proverbs Wife Reply:

    @GiGi Eats, I agree!!

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  10. I saw a similiar teaching on Sesame Street recently. I need to have my daughter divide up her piggy bank money into save, spend, and give jars.

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    A Proverbs Wife Reply:

    @Heather Johnson, that could be a fun DIY project. She should decorate her jars with paint or stickers to personalize it.

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    Tanya Van Court Reply:

    @Heather Johnson, Heather – we do the save/spend/give jars in the house too, and iSow.com was a great way for us to extend that concept to gift-giving since those moments represent SO MUCH excess in our home! I’d love for you to try iSow.com with your daughter and let me know what you think! I’m at tanya@iSow.com.

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  11. I love that you do that with your kids. My kids have no concept of the value of a dollar, so I really need to start working with them on the value of money.

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    A Proverbs Wife Reply:

    @Robin Masshole mommy, I think some things they’ll pick up naturally from you, but talking to them about money is definitely important.

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