Setting your kids up for financial success as they grow and begin to take on more responsibility can be a challenge. Teaching your kids the value of money is something that every parent should take seriously.
In today's fast-paced world of emerging technologies, it is sometimes difficult to keep up with all the apps available for kids. Children of today gravitate to learning visually and are very comfortable using mobile apps. So it stands to reason that allowance that parents can meet their children at their level by using the latest technologies to teach them valuable lessons about money.
There are a variety of kid-friendly financial apps focused on teaching kids responsibility when it comes to their weekly allowance, chores, and other positive money habits. Many of these apps are catered to specific age groups and goals, meaning that there are plenty of options to choose from when it comes to finding that app that works best for your family. Credit.com took a look at some of the best allowance apps for kids in the infographic below, including what age group they are best suited for, the parental controls each app offers and the valuable lessons each app can instill in your children.
For example, Famzoo is an excellent app for larger families with older kids, as parents can control multiple accounts at once and can set up chore tracking to help keep their kids accountable. However, an app like Piggybot is best for younger kids ages 6-8, because it gives them reminders of when to save and how much, thus teaching them valuable skills that they can carry on into adulthood. Please take a look at the infographic below to get the inside scoop on 9 of the most popular financial apps for families and give one a go with your kids to help them learn to manage their summer allowance!
We would like to thank credit.com for the use of the following graphic.