December 21, 2010 10:02 ET
Kidworth Offers the Best Gift for Kids This Season: A Financially Stable Future
New Site Helps Parents Teach Kids Wealth-Building Skills -- Creating a Generation of Savers and Investors
LOS ANGELES, CA--(Marketwire - December 21, 2010) - In an effort to provide a productive alternative to mindless consumption, Kidworth (www.kidworth.com), was launched today. Kidworth is a free service that enables intelligent gift giving, especially during the holiday season, with a long-term objective of empowering parents to raise a generation of financially literate children. Targeting parents with cradle to college-aged children, Kidworth is focused on financial goal-setting and achievement by using technology and social media to help a generation identify, set and fulfill worthwhile financial goals.
In a generation, savings rates have plunged from 15 percent to nearly zero percent1. According to Kidworth, Kids will be gifted millions of dollars worth of toys and clothes this holiday season, which will likely result in millions of pounds of waste in a landfill in the near future, with no long-term net benefit. Kidworth offers an alternative to gross overconsumption while teaching valuable lifelong financial lessons.
Most kids encounter significant assets during the cradle to college years. This comes in the form of gifts, allowance, earnings and other support. However, most kids reach adulthood with very little to no financial base, little in the way of financial skills and poor habits and psychology about finances.
"Kidworth kids will transition into adulthood with a head start," said Kidworth founder Rudy DeFelice. "They'll have wiser consumption habits, a history of achievement and a financial foundation."
Based in Los Angeles, Kidworth is a company focused on financial goal setting and achievement for the "cradle to college" crowd, which uses technology and social media to help a generation identify, set and fulfill worthwhile financial goals. For more information, visit www.Kidworth.com.
1 Source: US Dept. of Commerce: Bureau of Economic Analysis