Lemonade stands are so 2008 as kids are becoming more and more tech-savvy, so are their sources of income. Combining financial responsibility and eco-consciousness, a new online tool helps parents save on home energy costs with the help of their kids (for a little reimbursement to the little ones, of course).
The Moolah Maker just needs a few stats about a house to figure out an energy-saving plan for parents and a moneymaking plan for kids. The tool tells families how much energy they saved compared to the same month last year and calculates the difference. The kids' job is to reduce home energy waste, and the energy bill reports how they did. Parents and kids negotiate a pay out that represents a percentage of the savings, enticing kids to save as much energy as possible.
The founders of Energy Circle, a Website offering home energy efficiency information and products, developed the tool after seeing how excited their kids were about reducing energy waste at home. Peter Troast and Lisa Fahay were inspired by their kids, who would use a countertop electricity monitoring device to measure the effect of their actions, like turning off lights and connecting the entertainment system to a smart power strip. They also noticed their kids' game reduced the energy bill by 16%.
"It was one of those epiphany moments," Fahay said. "The kids are already motivated, because they understand the impact of energy use on the planet. But why not let them share in this financially?"
The family's savings led to a contract to reward the kids, which in turn led to the Moolah Maker, which gives other families a simple tool to reduce their own energy waste. The tool generates a child-to-parent invoice based on the amount agreed upon in each family and tells parents to "Pay up, dude."
The tool provides a great way for parents to save money, teach kids financial responsibility and promote a greener lifestyle.
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