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Manage apps and devices10/30/2022 ![]() ![]() Parents set up an online account that’s linked to accounts for each child. Gohenry is another allowance management app featuring the use of debit cards. #Manage apps and devices plus#Greenlight Max, the highest subscription level, includes all of the features of the first two subscription levels plus extras like a Greenlight Black Card, priority customer support, identity theft protection, cell phone protection and purchase protection. It includes all of the features of the basic subscription but costs $7.98 per month. Greenlight also offers a subscription level that includes an investing platform for kids. You can even restrict card use at specific stores. With Greenlight, parents can manually or automatically transfer money to their kids’ cards instantly, receive notifications when cards are used, set interest and round-up rules for savings, create in-app chore lists and more. Parents control settings on how kids can use the debit cards and how much access kids have to their funds. A basic subscription to Greenlight costs $4.99 per month and includes debit cards for up to five kids. Greenlight is a debit card designed for kids that’s managed by parents. GreenlightĬost: Greenlight: $4.99 per month Greenlight + Invest: $7.98 per month Greenlight Max: $9.98 per month Parents have control over access settings to give kids as much or as little access to accounts as desired. ![]() ![]() You can set amounts for each task, and FamZoo automatically moves the funds as tasks are completed and checked off the list.Īs your children grow, you can add more complex features, like budgets and loans. The app features a straightforward interface parents can use to view accounts, transfer money and create chores and other checklists. You pay a monthly subscription fee with both account options. As an alternative, there’s an option to set up IOU accounts for your kids, which keeps track of their money virtually if you pay your kids outside of the app in cash or other methods. ![]() You have the option to receive prepaid cards that you can transfer real money to for each of your kids. The app helps parents manage finances for their kids as they earn or are given money. FamZooĬost: $5.99 monthly or a varied pay-in-advance feeįamZoo describes itself as a virtual family bank and is designed for preschoolers up to college age kids. Here’s a look at the mobile apps that need you to open a bank account. Some allowance and chore apps require setting up a bank account for your kids-and possibly you as well. Why not teach kids about money and work in a way that they may learn best? Allowance Apps That Require a Bank Account Apps that allow you to issue debit or prepaid cards to your kids may be more convenient.Īs our children continue to grow, the gap between old ways and new ones will widen even more. Many of us rely more on debit and credit cards than cash these days. Plus, cash may not always be the best way to dole out allowance. In addition to using your smartphone to communicate, you may also use it to bank, learn, stay informed, set reminders, keep track of appointments and other dates, keep tabs on family and friends and more. Just think about how often you use technology to manage your everyday life. Why not take advantage of that fact and use technology for good with your family. The reality for many families is that there’s more time spent on electronic devices than not. Also, it may help give your kids a sense of belonging and ownership. You can use your time together for teaching moments about money and life, work ethic, doing a job well and other things you may value. If it’s a family app that everyone has access to, it helps you stay connected with your kids. Whether you’re at home or work, you can check in on your kids’ progress and often communicate with them, too, from within the app. It Keeps You OrganizedĪllowance and chore apps give you a central spot to assign, track and manage tasks that used to be relegated to sticky notes and notebooks. Here are three ways family allowance and chore apps can help parents today. Personal piggy banks and chore charts work well enough, but, if you’re looking for a more modern way, mobile apps can help solve the problem. Keeping track of allowance and chores, especially with multiple kids, can be a challenge and a chore in and of itself. Why Use an App for Managing Allowance and Chores? ![]()
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