I want an app that lets kids track/budget allowance: parents schedule virtual deposits; kids decide amounts to save or spend, how, and on what; prints "checks"
Added over 1 year ago
Have you taken a look at KidsCash? It's not an app, but it's a website, and it uses actual money. The kids decide how much they want to save or spend, and all spending can be done in the KidStore, which is full of great, age-appropriate toys and games. www.kidsca.sh
I'd rather have an ap that uses "virtual" money, and keeps the actual money and purchasing under the control of parents.
When I was a kid, my Mom gave us a pretend checkbook and we recorded a "deposit" of our allowance into the checkbook register each week. When we wanted money to buy something, we wrote her a check, and she withdrew the money from her bank account to give to us. We kept track of our continuting balance and even reconciled our checkbook balance at the end of every month.
These days, so many parents and kids have iPods, tablets, and smart phones, it seems like a great idea to me to have an ap that would let parents use these new technologies to teach their kids about banking, budgeting, and saving.
I just want to clarify for you that on KidsCash, the kids can only spend what their parents deposit into their accounts, and parents can specify that they have to approve every transaction that their child makes. Along the way, parents are notified whenever their kids change how much they're saving, spending, or donating, and money can ONLY be spent in the KidStore.
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Date entered: June 28, 2012
learn about a financial topic