Teaching kids about money can be a real challenge, especially if you’re not that great at money management yourself. I’ve researched some great pocket money apps for kids to get you started. The apps listed here are for kids pocket money in pounds sterling.
1. Pigby’s Fair is Nat West Bank’s highly entertaining smartphone and tablet app produced and designed by the makers of Wallace and Gromit, Aardman Animations. The app stars money saving heroes, Pigby and Friends. The characters embark on adventures around an animated fairground where they are challenged to save or spend. The app, aimed at 4-6 year olds, is free to download here.
2. The GoHenry website and app are designed to encourage money confidence in 8-18 year olds. Parents create an account for each of their children who then receive ‘bank’ cards in their own name. GoHenry recommends pocket money amounts according to the national average (if you are unsure) and the amount is automatically credited to your child’s account every Saturday. GoHenry are currently running a one month free trial after which it costs £1.97 a month per account to run.
3. iAllowance (Free) is a brilliant tool for tracking pocket money, chores and rewards. You can run multiple banks for different children, set up specific chores and rewards that run on a regular basis. The fabulous graphics include pie charts showing long term and short term saving progress. This version is free.
4. The Kids Money Pocket Money Calculator is a nice app with appealing graphics that allows your children to input a target saving amount. They fill in the details of how much pocket money they get and any extras they may receive and the app lets them know how close they are to being able to make their purchase. Simple and sweet.
5. The Roosterbank Pocket Money Tracker allows parents to manage multiple kid’s pocket money accounts while children get their own Pocket Money Dashboard online. Parents can boost pocket money for certain achievements and completed chores. The app also has a lovely feature where photos of that dream purchase can be uploaded into the saving target area. The basic app is free with in-app purchases available.
KidStart is the online shopping club for parents that lets them earn money back from over 2,300 retailers including John Lewis, eBay, TUI, H&M and more. The money you earn will top up your child’s savings account. Learn more here
.Meet Beanstalk, the newest member of the KidStart family. It’s our app-based Junior ISA that makes saving and investing accessible for families of all shapes and sizes. It has low fees, no minimums or regular payments required. We’ve packed it with awesome tools including round ups, KidStart and the ability to invite friends and family to gift money directly through their own version of the app. Find out more about Beanstalk here! Capital at risk.
Happy saving!