If you want to know the best Money Apps for Kids, this article will really help.
It reveals a lot about money apps and those that are specifically helpful for Kids, when it comes to saving money and managing money.
Why Money Apps for Kids?
If you have young kids, you can teach them financial literacy early. This knowledge will help them manage their money in life.
They would know how to earn and spend wisely. Most importantly, they would also learn how to save, invest and build wealth.
There are many financial tools to teach kids about money. You may want to look out for money apps.
These are mobile phone applications that have features that users can apply to learn, save, invest or build wealth.
Money apps for kids are all over the place. Most of them can be used by both parents and kids to teach, learn and manage money.
12 Best Money Apps for Kids for Saving & Making Money
1. Savings Spree
Savings Spree is an award-winning app that teaches kids finance literacy. The app is suitable for children ages 7 and up.
They can learn how to save, spend, donate and invest money with ease.
This money app is presented in a game format and teaches kids how to make daily lifestyle choices about money.
Players are taken through six rounds that test their financial knowledge and help them build their financial skills.
This is one of the best money apps that parents can get and play with their kids.
According to the iOS review on this app, Savings Spree “game introduces the concept of earning money for the work that’s available and also guides the child through making choices with the money accumulated during the game.”
2. Renegade Buggies
Renegade Buggies is an app developed by the National Center for Families Learning (NCFL) and in conjunction with the Dollar General Literacy Foundation.
This is an app that allows users to run the aisle of shopping stores to grab things they need.
This app aims to help users – both adults and children – to become financially responsible.
The NCFL blog review on this app reveals that
“ride the back of your buggy (shopping cart) down the street and collect a specific amount of money and items—everything from shampoo to dog food to underwear—but be sure to dodge the cones, rolling tires, and puddles or you’re sure to crash.
Once you collect your items, hit the checkout phase of the game and decide which of the three shampoos you gathered will save you the most money.
The more money you save, the more power-ups and accessories you can buy for your buggy.
The game covers four concepts: unit prices, buying in bulk, coupons, and promotions. ”
This money app provides kids with a fun way to learn about shopping and being financially responsible.
3. FamZoo Family Finance
FamZoo Family Finance is a great app designed specifically to teach kids critical financial skills through hands-on experience.
Also, this app can save busy families time and hassle when managing their money.
FamZoo Family Finance works like a virtual family bank or an online family bank. Parents are the “bankers” while kids are the “customers” of this virtual bank.
This banking system is ultimately designed to help parents teach their kids how to earn, save, spend, and give money wisely.
It also teaches kids how to avoid debts and pay off their loans easily.
FamZoo Family Finance is an award-winning app that features two accounts:
- IOU account – This is an account that simply tracks money that parents hold elsewhere on behalf of their kids. FamZoo reveals that “The current balance in an IOU account is the amount that you currently “owe” your child. When FamZoo makes automated payments from you to your child for allowance, rewards, interest, etc., it credits your child’s IOU account.“
- Prepaid Card account – This is an account that sets real money aside for the kid. It provides a safe payment mechanism for the kid with non-risk of debt, donations, purchases, and other transactions.
This account reveals that: “Prepaid card accounts are subject to eligibility requirements and may not be available if you’re receiving our service through one of our partners who has chosen not to offer them.”
FamZoo Family Finance is available for both iOS and Android.
Also See: Best Legit Ways For Kids To Make Money.
4. The Game of Life
The Game of Life is an animated board game designed by the company named “Marmalade Game Studio”.
This is a money game app that kids can use to learn about finance.
With this interactive app, kids can learn about attending college and buying a home.
This game app has a multiplayer feature. A list of the features as shared by the Google Play Store include:
- Online Multiplayer – Match with other players and race to the final yellow square
- Local Play – Play with up to three friends on one device
- Fast Mode – A new, shorter game mode where you will be faced with a different victory condition!
- Minigames – Put your skills to the test and compete head-to-head in a variety of minigames
- Chat – Send players expressive emoticons during online matches”
Also See: How to Really Earn Money As A Kid.
Greenlight is a debit card and app for managing family finances.
It has features that allow both parents and their kids to be in charge of their finances.
Kids can save, earn, invest, spend and give money- with their parent’s approval with this app.
Also, parents can use this app to help their kids choose the exact stores where their kids spend, manage chores, and allowances.
They also get to use this app to set parent-paid interest rates and more.
If you are looking for one of the best debit cards app for kids then you should consider this app.
A summary of what this app can do for kids and teens as listed on the Google Play store include:
- Track balances in Save, Earn, Invest, Spend and Give accounts
- Receive money from friends and family
- Manage their budgets
- Invest in stocks of their choice and research their favorite companies
- Set savings goals
- Set up direct deposit for their paychecks
- Use Apple Pay, Google Pay, and Samsung Pay
IAllowance is a money app that can help parents manage their kids’ money.
This is one of the best money apps for kids because it has features that handle all financial kid’s financial transactions in an easy-to-use interface.
On this app, 30+ Million chores have been completed and 20+ Million allowances have been.
This app has been featured in popular magazines like Forbes and Money Magazine.
IAllowance allows kids to get involved with chores and ensure they get done.
It has reminders that alert the kids on the tasks even if the app is not running.
With the features of this app, kids are motivated when they have goals to work towards and rewards they can have.
IAllowance is great for both parents and kids to manage how they spend and save money.
RoosterMoney is one of the best money apps for kids.
It is an allowance app trusted by hundreds of thousands of parents and kids.
This app has been featured in many prominent media platforms like The Washington Post, The New York Times, HuffPost, Forbes, and WSJ.
RoosterMoney helps parents manage all their allowances in one place.
Also, it provides kids with the power to engage with their money and make spending decisions effectively.
Ultimately, this app allows parents to help their kids build good saving habits and will last a lifetime.
The key features of this app for kids include:
- They can take control of their allowance, pocket money, and chores.
- They can view how much money they have saved or spent by checking their statement.
- They can create savings goals via the family planner app.
- They can save money in your very own saving pot.
- They can customize the dashboard and make the RoosterMoney allowance manager their very own.
- They can get a head-start towards learning the true value of money and saving for the future!
Other apps you may check out include
10. Keep the Change Kids
The above are some of the best money apps for kids. These apps offer features that allow kids to save, spend, share, and invest money.
Most of these apps offer kids the opportunity to get rewarded after doing chores.
Also, they provide features that allow parents to help take control and boost the finances of their kids.