Best App for Managing Kids’ Money
Think green: Each child’s account screen shows his or her balance and transaction details. The red balance bar shows earned activities, time, and cash. The activity balance is, oddly, represented by an obscure icon of a potted plant, part of an unexplained plant metaphor (kids are “saplings,” for example). Tap the leaf icon at bottom to add interest earnings to reward your little sapling for saving his or her hard-earned allowance.
Bank on it: The Bank of Mom transaction screen lets you make dated deposits or withdrawals to your child’s account. Add a quick description and enter the amount of money or time to be added or deducted. If your child is banking an activity, enter the type of activity earned or spent in the activity field (once again identified only by the inscrutable potted-plant icon).
Bank of Mom
Website: Gomu Gomu
Bank of Mom lets you shift your kids’ allowance from a cash operation to a line of credit, teaching simple financial concepts along the way. Create an account for each child, and make cash deposits for chores or allowance. You can also bank activities like sleepovers, or time for TV or video games. If you reward your kid with TV time for unloading the dishwasher, for example, you can shelve those dishes in her account and let her “withdraw” when she wants to bliss out on Nickelodeon.
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