8 Money Apps for Kids to Learn Money Management

Like so many other life lessons, it’s a good idea to start money education while your kids are young. Not only could your child learn about healthy investing but they can also learn how to live within their means and stick to their budget. Let’s face it, the same way taxes aren’t taught in school (they totally should be!) there’s other valuable knowledge, like money management, that’s also not covered.

Well, one way to help your child understand money matters is with money apps for kids that can help them get a better sense of finances. Chances are your child is already spending time on their cellphones anyway, so why not install these kids money apps for them so that their time is spent on something educational. After all, apps are the ultimate life hack.

These are the 8 best kids money apps

1. FamZoo

Set up allowances, chores and spending accounts all through this one app. You can also teach them how interest works, create prepaid cards and even charge them for borrowed money. The latter might be handy for older kids on family cell phone plans!

2. RoosterMoney

The free version of this app allows you to do a lot, such as: tracking money, setting goals and creating allowance schedules. Plus, you can also keep four separate accounts: spend, save, give and goals.

3. Current

Get spending notifications, set spending limits, block certain merchants and even set up recurring transfers.

4. Greenlight

Get real-time spending alerts with this app that gives your child a debit card and gives you flexible control. If your child is 13 and older they can also use Apple Pay through this app or if they’re 16 and older they can use Google Pay.

5. Acorns

This is a popular app amongst those who want to teach their kids about proper investing. Depending on your subscription it can help you invest spare change or act as your bank account.

6. Step

Designed with teens in mind, this app provides a free FDIC-insured bank account. Parents can see their child’s account and have important conversations about money.

7. Ketshop

Parents can approve purchases, send money to their children and kids can shop independently, without breaking the bank.

8. GoHenry

Signing up for this app gets your child a prepaid debit card. Parents can set up which stores kids are allowed to shop at, block and unblock the card as needed and manage the money in the account.

Tags:

Budget, Saving money