14 Best Money Apps for Kids (2024)

Teaching kids about money management is crucial, but schools often don’t dedicate enough time to it. Luckily, there are numerous money apps for kids that can help teach them valuable financial habits. This article will explore the 14 best money apps for kids in 2024, covering a range of features and age groups.

Key Takeaways:

• Discover the best money apps for teaching kids financial responsibility.
• Find apps suitable for different age groups and skill levels.
• Learn how these apps can make money management fun and interactive.
• Explore features like virtual banks, debit cards, and allowance tracking.
• Help your kids develop lifelong money management skills.

Bankaroo

Bankaroo is a virtual bank app designed to teach kids aged 6-8 about money management. However, children aged 5-14 can also benefit from this interactive platform. Whether accessed through the app or website, Bankaroo provides an accessible money management experience for kids without mobile phones.

With Bankaroo, parents have the ability to set up an allowance and easily add funds to their child’s account, promoting financial responsibility from an early age. Kids can actively manage their money, set savings goals, and learn about different financial concepts such as checking, savings, and charity accounts.

For an enhanced experience, Bankaroo offers a paid version that unlocks additional features, allowing kids to explore more advanced money management strategies. This includes the ability to allocate their money across various accounts, reinforcing crucial financial habits.

Bankaroo Features:

• Virtual bank app designed for kids aged 6-8 (also suitable for children aged 5-14)
• Accessible as an app or website
• Allows parents to set up an allowance and add funds to their child’s account
• Kids can manage their money, set savings goals, and allocate funds across different accounts
• Paid version offers additional features for more advanced money management

Bankaroo is an excellent tool for introducing kids to the world of money management in a fun and interactive way. Start utilizing this virtual bank app today to empower your child’s financial future.

Savings Spree

When it comes to teaching kids about money, interactive games can be a great tool to make learning fun and engaging. One such game is Savings Spree, a popular app that aims to educate children about the financial impact of their decisions. Designed for kids aged 7 and up, Savings Spree is available exclusively on the Apple Store, letting kids learn while having fun on their iOS devices.

The game covers important financial concepts such as saving, budgeting, donating, and investing, providing kids with a solid foundation in money management. By immersing themselves in the interactive gameplay, kids can develop crucial financial skills that will benefit them throughout their lives.

Savings Spree offers a captivating and immersive experience, allowing kids to make virtual financial decisions and observing the outcomes of their choices. Through the game’s scenarios, children learn the consequences of their financial actions and understand the value of saving and budgeting for future goals.

With Savings Spree, children can embark on a virtual journey where they face real-life scenarios and make financial decisions. For example, they might be presented with the choice of buying a toy immediately or saving the money for a more significant purchase down the line. By experiencing different outcomes, kids learn valuable lessons about the importance of delayed gratification and the long-term benefits of saving.

The Benefits of Savings Spree:

• Interactive and engaging gameplay
• Teaches important financial concepts such as saving and budgeting
• Encourages responsible financial decision-making
• Provides a safe space for kids to learn about money before handling real currency
• Develops skills in financial planning and goal setting

Savings Spree is a fantastic way to introduce kids to the basics of money management. By making financial decisions in the game, children can learn the consequences of their actions in a safe and educational environment.” – Parent’s Review

Overall, Savings Spree is an excellent tool for parents looking to teach their children about money in a fun and interactive way. By mastering the game’s financial concepts, kids can build a strong foundation for their future financial independence, ensuring they make responsible choices when it comes to their finances.

GoHenry

GoHenry is a comprehensive money management app designed to teach older kids about responsible financial habits. With GoHenry, parents can open an account for their children, providing them with their own personalized debit cards. This hands-on experience allows kids to learn the value of money and how to manage it effectively.

One of the key features of GoHenry is the ability for kids to earn money by completing chores. This not only instills a sense of responsibility and work ethic but also teaches them the importance of working for their own income. Additionally, GoHenry facilitates automatic allowance transfers, ensuring that kids receive their designated funds on time and in a consistent manner.

GoHenry goes beyond just giving kids access to spending money. The app also provides educational lessons that cover a variety of important financial topics. Kids can engage in interactive learning missions regarding investing, credit cards, entrepreneurship, and more. These lessons are designed to be engaging and educational, equipping kids with essential money management skills as they grow.

“GoHenry allows kids to have their own debit cards and learn money management skills in a fun and practical way.”

By using GoHenry, kids can develop a deep understanding of how money works, the importance of budgeting, and the value of making smart financial decisions. Through the app’s user-friendly interface, kids can track their spending, savings, and even set financial goals for themselves.

GoHenry provides parents with peace of mind by allowing them to monitor their child’s transactions and set spending limits. This helps teach kids about responsible spending and ensures they don’t overspend or make impulsive purchases.

For parents who want their kids to learn money management in a practical and engaging way, GoHenry is an ideal choice. With its combination of debit cards, chores, allowances, and educational lessons, GoHenry provides a comprehensive platform for kids to develop lifelong financial skills.

Pros	Cons
Teaches kids responsible money management	Available only as a paid service
Customizable debit card design	Not suitable for younger kids
Earn money through chores	Can only be used within the GoHenry network
Automatic allowance transfers	Only available in certain countries
Provides educational lessons on financial topics

Kiddie Kredit

Kiddie Kredit is a simple app that teaches kids about credit scores and financial responsibility. It’s never too early to start learning about money management, and Kiddie Kredit provides a fun and interactive way for kids to understand the importance of credit.

With Kiddie Kredit, parents can assign tasks to their kids, such as completing chores or finishing homework. Each completed task helps improve their “Kredit” score, which is a representation of their financial responsibility. Kids can track their progress and see how their actions have a direct impact on their credit.

“Kiddie Kredit not only teaches kids the importance of financial responsibility but also rewards them for their efforts.”

As kids reach different levels, they can earn rewards and master valuable lessons about money management. This app not only teaches kids about credit scores but also cultivates a sense of financial responsibility from an early age.

While Kiddie Kredit may not be as comprehensive as other money management apps, it serves as a great tool for introducing responsible credit usage to children. It’s important for kids to understand that financial decisions have consequences and that good credit habits can benefit them in the long run.

Parents can use Kiddie Kredit as a stepping stone for their children’s financial education journey, laying the foundation for future money management skills.

Greenlight

When it comes to teaching kids about money management, Greenlight is a top choice. This comprehensive money management solution offers kids their very own debit card, empowering them to make responsible financial decisions from an early age.

With Greenlight, kids can earn money through completing chores or receiving allowances. They can then use these funds for spending, saving, or even investing, learning the importance of budgeting and goal-setting along the way.

This app also provides cashback on purchases, giving kids an incentive to make smart spending choices. Parents can set spending limits and receive notifications, ensuring they maintain control while allowing their children to develop essential money management skills.

What sets Greenlight apart is its focus on education. The app offers access to a range of educational materials that teach kids about saving, investing, and making wise financial decisions. By engaging with these resources, children can build a strong foundation of financial literacy that will benefit them for years to come.

With its user-friendly interface, Greenlight makes money management fun and interactive for kids. It allows them to gain hands-on experience with real-world financial scenarios, preparing them for a lifetime of financial success.

Greenlight empowers kids to take control of their finances while providing parents with the tools to guide them towards smart money management. This all-in-one solution combines convenience, education, and financial empowerment, making it an ideal choice for families looking to foster financial responsibility in their children.

FamZoo

I’ve discovered another incredible app that combines allowance management with prepaid debit cards – FamZoo. This app offers a versatile and comprehensive money management solution for kids, helping them learn valuable financial skills while having fun.

With FamZoo, parents can easily set up allowances and chores for their children. Payments can be allocated into various accounts such as savings, giving, and spending, teaching kids the importance of budgeting and saving.

FamZoo also allows parents to pay interest on their child’s savings, encouraging them to save even more. Kids can set their own savings goals and track their progress, learning the value of setting and achieving financial targets.

One unique feature of FamZoo is the ability for parents to charge their kids interest or fees for borrowing money. This valuable lesson helps kids understand the consequences of borrowing and reinforces responsible financial behavior.

FamZoo is designed to be user-friendly and accessible to both kids and parents. It provides a safe and secure platform for children to learn about money management in a fun and interactive way.

If you’re looking for an app that combines allowance management, prepaid debit cards, and comprehensive money management features, FamZoo is definitely worth considering. Give your kids the tools they need to become financially responsible individuals with FamZoo.

RoosterMoney

RoosterMoney is a simple and user-friendly allowance app that empowers kids to track their money and set savings goals. With RoosterMoney, parents can easily manage their children’s allowances and help them develop healthy financial habits.

The free version of RoosterMoney allows parents to set up allowance schedules and track their child’s money. They can also split payments into different accounts, such as spending, saving, and giving. This feature helps children learn the importance of budgeting and allocating their money wisely.

For those looking for even more functionality, RoosterMoney offers a premium version. The premium version includes a chore tracker, which allows parents to assign tasks to their children and track their progress. This feature instills a sense of responsibility and work ethic in children as they earn money through completing chores.

Additionally, the premium version of RoosterMoney includes interest payments. This means that children can witness the power of compound interest as they save money over time. It’s a fantastic opportunity for kids to learn about long-term financial planning and the benefits of saving.

RoosterMoney is designed to be intuitive and engaging for kids, making it an ideal tool for teaching financial responsibility. The app’s user-friendly interface and interactive features provide a hands-on learning experience that empowers children to take control of their finances.

Benefits of RoosterMoney:

• Easy allowance management
• Tracking and setting savings goals
• Chore tracker to promote responsibility
• Interest payments to teach long-term financial planning

Testimonial:

“RoosterMoney has been a game-changer for our family. It has made managing allowances and teaching financial skills so much easier. My kids love setting savings goals and watching their money grow!”

– Jennifer, parent

Features	Free Version	Premium Version
Allowance Management	✓	✓
Savings Goals	✓	✓
Chore Tracker	–	✓
Interest Payments	–	✓

Step

Step is a teen debit card that provides them with a free FDIC-insured bank account. With the Step app, parents can easily set up recurring payments for allowances or make one-time transfers. Teens can send and receive money instantly and use the card for everyday spending. The app allows parents to monitor their child’s account and teach them valuable financial lessons.

Step offers a convenient and secure way for teens to manage their money. The FDIC-insured bank account ensures that their funds are protected, giving both teens and parents peace of mind. With instant transfers, teens can quickly and easily send money to friends or family members. Whether it’s for splitting a bill, repaying a friend, or receiving an allowance, Step makes it effortless.

Parents can also use the Step app to set up recurring payments for allowances, making it a hassle-free way to provide financial support. The app allows parents to track their child’s spending and set spending limits, promoting responsible money management.

Step’s teen debit card is widely accepted, allowing teens to use it for everyday spending wherever Mastercard is accepted. It’s a great tool for teaching teens the value of money, budgeting, and making smart financial decisions.

With Step, teens can take control of their finances and start building good money habits. The app provides an interactive and intuitive platform that encourages financial literacy and independence. Parents can use Step as a teaching tool, empowering their teens to make informed financial choices and prepare for their future.

Key Features of Step

• Free FDIC-insured bank account for teens
• Instant transfers for quick and easy money transactions
• Convenient allowance setup with recurring payments
• Parents can monitor and manage their child’s account
• Spending limits for responsible money management

Current

When it comes to empowering teens to manage their own money, Current is an excellent choice. This app offers a range of features that not only provide financial freedom to teenagers but also give parents peace of mind.

With Current, parents have the ability to set up scheduled transfers and instant transfers to their child’s account, allowing them to automate the transfer of funds. This feature ensures that teens have access to the money they need when they need it.

In addition, Current provides spending restrictions and alerts for parents, giving them control over their child’s spending habits. Parents can set spending limits and receive notifications whenever their teen makes a purchase, ensuring responsible financial behavior.

One of the key features of Current is the use of a debit card, which allows teens to learn valuable financial management skills. By using the debit card and budgeting their money, teens can develop a strong sense of financial responsibility and money management.

Overall, Current is an excellent option for both teens and parents. It offers the convenience of scheduled transfers and instant transfers, while also providing spending limits and parental control. With Current, teens can gain practical financial experience while parents can stay involved and guide their child’s financial journey.

BECU Youth Savers

Introducing BECU Youth Savers, a specially designed savings account created with kids in mind. With this account, children can start their financial journey and learn the value of saving money from an early age.

This savings account offers a high APY (Annual Percentage Yield) on the first $500 deposited, allowing kids to watch their savings grow and experience the benefits of interest. They can see firsthand how their money can work for them.

One of the standout features of BECU Youth Savers is that it has no minimum balance requirement. Kids can open an account without worrying about meeting a certain threshold, making it accessible and easy to get started.

BECU Youth Savers also doesn’t charge any monthly service fees. This means that kids can save without any additional costs eating into their hard-earned money. It’s a hassle-free account that encourages consistent saving habits.

The account is jointly owned by parents and kids, allowing parents to provide guidance and oversee their child’s financial progress. It’s a collaborative effort that fosters responsible money management skills and sets a foundation for future financial success.

Kids aged 13 and above get the additional benefit of free online and mobile banking access. They can conveniently monitor their account, track their savings goals, and learn valuable financial skills on their devices.

With BECU Youth Savers, children can embark on a savings journey that will shape their financial habits for life. Start teaching them the importance of saving money and watch them thrive.

The Benefits of BECU Youth Savers

• High APY on the first $500 deposited
• No minimum balance requirement
• No monthly service fees
• Jointly owned by parents and kids for guidance and oversight
• Free online and mobile banking access for kids aged 13 and above

Start Saving with BECU Youth Savers Today!

Open a BECU Youth Savers account today and empower your child to become a smart saver. Help them develop healthy financial habits while enjoying the benefits of high interest rates and a hassle-free savings experience.

Account Features	Details
APY	High APY on the first $500 deposited
Minimum Balance	No minimum balance requirement
Monthly Service Fees	No monthly service fees
Ownership	Jointly owned by parents and kids
Online and Mobile Banking	Free access for kids aged 13 and above

PNC ‘S’ is for Savings

PNC ‘S’ is for Savings is an account that brings the joy of saving to life with the beloved Sesame Street characters. Designed specifically for kids, this savings account offers a fun and interactive way to teach important financial concepts. With PNC ‘S’ is for Savings, children can start building their financial literacy from an early age.

One of the key features of PNC ‘S’ is for Savings is that kids can earn interest on balances as low as $1. This encourages them to save even small amounts of money and witness the growth of their savings over time. It’s a great way to instill the habit of saving early on.

Moreover, PNC ‘S’ is for Savings offers online and mobile banking access, making it convenient for kids to manage their money. They can check their account balances, make transfers, or even set savings goals right from their devices. By giving children control over their savings, they can develop a sense of financial responsibility and independence.

One of the unique aspects of this account is the inclusion of visual jars for spending, saving, and giving. Kids can allocate their money into different jars based on their financial goals. This helps them understand the concepts of spending, saving, and giving in a practical and visual way. It’s a hands-on approach to money management that engages and educates.

PNC ‘S’ is for Savings provides a highly engaging and interactive way for kids to learn about money. Whether they are saving for a new toy, contributing to a charity, or setting aside money for future goals, this account helps them develop a strong foundation in financial management.

With PNC ‘S’ is for Savings, children can embark on a journey of financial discovery with their favorite Sesame Street characters. The account offers a safe and user-friendly environment where kids can learn valuable lessons about spending, saving, and giving. By starting early, kids can develop lifelong habits of financial responsibility and make wise choices with their money.

Conclusion

These 14 money apps for kids offer a range of features and benefits that can help teach children valuable financial habits. Whether you’re looking for virtual banks, allowance apps, or debit cards, there are options available for kids of different ages and skill levels.

By introducing these apps to your children, you can assist in developing their money management skills and fostering financial responsibility from an early age. These apps provide an interactive and engaging way for kids to learn about finances, making the process enjoyable and educational.

From teaching the basics of saving and budgeting to introducing more advanced concepts like investing and credit scores, these money apps offer a comprehensive learning experience. Parents can use these tools to guide their children on their financial journey and instill important financial values.

Consider exploring one or more of these money apps for kids to make learning about finances a fun and interactive experience for the younger generation. Start early, and give your kids the tools they need to become financially savvy individuals in the future.

FAQ

What are money apps for kids?

Money apps for kids are educational applications designed to teach children about money management, saving, budgeting, and other financial concepts in a fun and interactive way.

Why are money apps for kids important?

Money apps for kids are important because they help children develop valuable financial habits, such as saving, budgeting, and responsible spending. These apps can lay a strong foundation for their future financial success.

Are money apps for kids safe?

Yes, most money apps for kids have strict security measures in place to protect children’s personal and financial information. However, it’s important for parents to research and choose reputable apps from trusted sources.

Can I use money apps for kids for multiple children?

Yes, many money apps for kids allow parents to create multiple accounts for their children, making it easy to manage allowances, savings, and financial goals for each child individually.

Can money apps for kids be accessed on different devices?

Yes, many money apps for kids can be accessed on various devices, including smartphones, tablets, and computers. Some apps even offer both app and web versions, providing flexibility for children without mobile phones.

Are money apps for kids free?

Some money apps for kids offer free versions with limited features, while others require a subscription or in-app purchases to access all the features. It’s important to research the pricing structure of each app before making a decision.

Can money apps for kids be used by children of different ages?

Yes, many money apps for kids are designed for specific age groups, ranging from early elementary school to teenage years. It’s important to choose an app that is age-appropriate for your child to ensure they can fully understand and engage with the content.

What financial concepts do money apps for kids teach?

Money apps for kids can teach various financial concepts, including saving money, budgeting, setting financial goals, understanding interest, learning about credit scores, and even introducing basic investment principles.

Do money apps for kids have parental controls?

Yes, many money apps for kids offer parental controls, allowing parents to monitor their child’s financial activities, set spending limits, and approve transactions. This feature gives parents peace of mind and helps them guide their children’s financial decisions.

Can I customize money apps for kids to fit my family’s financial rules?

Depending on the app, customization options may vary. However, many money apps for kids offer flexible features that allow parents to set up personalized rules, such as chore schedules, rewards, and savings goals, to align with their family’s financial values.

Our Friends

• https://www.bark.us/blog/money-apps-for-kids/
• https://www.parents.com/kids/responsibility/money-management/allowance-and-budgeting-apps-for-kids/
• https://millennialmoney.com/money-apps-for-kids/