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Top-Rated Money Applications For Children

One of the most important things you can do as a parent is to teach your kids financial literacy. By teaching kids financial literacy, you are giving them a valuable life skill that will help them become successful and responsible adults. If you are looking for an effective way to teach your kids about money, try one of these money apps for kids that include parental controls.

12 Best Money Apps for Kids

These apps will teach your kids to make smart financial decisions, now and in the future:

Debit Card Apps for Kids

Giving kids their own cards is a great way to teach them about money. It can help equip them with the knowledge and skills necessary to make informed financial decisions in their adult life.

You can teach kids how to make smart financial decisions early in life if you give them a card to spend how they want. By teaching your children how to use a pre-paid card, you can help them gain valuable financial skills that will set them up for success in the future.

1. FamZoo

Famzoo is a prepaid debit card for kids and an allowance app that handles the family’s finances. Parents can use the Parent Funding Card to transfer funds to their kids instantly. This card helps parents keep track of their child’s spending, so they can make sure money is being used ethically.

Money can be sent for chores, compound interest, rewards, or money requests in the app. Money can be sent to friends and family within the app. Money can be sent to parents for missed chores, family bill sharing, or loan interest. Cash or check can be used to send this money.

If you don’t want to use debit cards, you can set up IOU accounts, which can be used to pay your kids in cash or purchase desired items.


$5.99 per month, or you can prepay for a specific number of months:

  • $4.33 per month if you prepay six months
  • $3.33 per month if you prepay 12 months
  • $2.50 per month if you prepay 24 months


  • Parents have control and visibility of all family accounts
  • Parents set the bank rules to earn or owe money
  • FamZoo automatically moves money for completed chores or other tasks specified in the app when a child completes them


2. Greenlight

Kids managed by their parents can use the Greenlight card. Parents have complete control over how the money is spent with each subscription. Parents can easily monitor their children’s spending habits and set up notifications to alert them when a purchase is made. Parents can set spending limits, transfer money automatically or manually, or restrict use at certain stores. Parents may be able to receive notifications when their children use the card, so they can stay informed about where and how it is being used.

Automatic round-ups or interest payments can be set up when kids save money or are tied to specific chores. In real-time, you can set up alert for any activity on the card. You can receive notifications on your phone or email so you don’t miss anything.

The investment option for kids is included in the top tier. The investment option provides a fun and interactive way for kids to learn about the stock market. Kids can invest with their parents. Investing can involve risk and losses so it is important to understand the market before making a decision.


  • Core – $4.99/month includes a debit card, educational app, and 1% on savings
  • Max – $9.98/month includes a Greenlight Black card that earns 1% cash back on purchases, 2% on savings, and investing options for kids
  • Infinity – $14.98/month includes everything in Max with 5% on savings, family location sharing, and crash detection


  • Includes top-notch parental controls
  • Kids can have their own brokerage (custodial account)
  • Pays cash-back and interest on savings


3. Chase First Banking

Chase First Banking makes it easy to teach kids about money. The Chase mobile app is your one-stop shop to handle all Chase accounts, including your child’s First Banking Card.

It is possible for parents to set spending limits, alert them about transactions, and even restrict spending at certain locations.

To open an account, parents must have a qualifying checking account with Chase, such as Chase Total Checking or Chase Secure Banking. You can apply for a free account with a debit card for your child once you have an account. This is a good way to teach your child how to manage their money.


Free with a qualifying checking account


  • Includes easy-to-use parental controls
  • There’s no fee for the kids’ account
  • Kids can send money requests in real time for parental approval


4. Current

Current is an excellent debit card option for teens. The Visa debit card can be used anywhere Visa is accepted, but parents control where teens spend their money and how much they spend. When using a Visa debit card, parents should make sure their teens understand the importance of spending within their means. Parent controls help teens learn to save, spend, and give money, while parents help kids learn where they spend. Additionally, parents should provide guidance and discuss financial values with their teens to help them manage their money.

Parents can assign chores for teens to complete to earn money. Teens can use their money to build a savings account or invest in stocks. The Current app makes it easy to manage the card, freezing it if your teen misplaces it, and parents can send transfers in real-time when kids request money while out.


Free with a parent’s Current card


  • It gives teens the freedom to learn how to save, spend, and give money
  • It gives parents complete control in the parental app to guide teens when making financial decisions
  • It’s free for teens


Investment Apps for Kids

Kids can learn to invest at a young age. High-yield savings accounts are just as good as investing if you don’t want your child to have a brokerage account. These accounts can be used to build a nest egg for your child.

Explore the top investment apps for kids. Before investing any money, it’s important to consider the features and fees associated with each app.

5. BECU Youth Savers Account

The BECU Youth Savers Account is easy to use. Kids can learn the basics of money management with the BECU Youth Savers Account. There is no minimum balance or monthly service fees, and it pays high APYs on the first $500 deposited. It’s easy to open an account.

Kids and parents own the account together, and kids over 13 get free online and mobile banking access.

Parents must be members of the BECU to open an account. Your child can apply for the Youth Savers Account once you become a member. It’s a good way to teach them how to save money.


No monthly service fees


  • Kids can earn high APYs encouraging them to save
  • It’s free
  • The account includes a free ATM card


6. PNC ‘S’ is for Savings Account

Sesame Street characters can be used to entice kids to learn more about saving. It’s easy for kids to start saving with the lack of a minimum balance and monthly service fee.

The bank pays interest on account balances. Savings accounts have higher interest rates than this one. Kids have online and mobile access to their accounts, and the account has visual jars to show how they manage their money.

The account has a learning center that helps kids learn about savings and personal finance. The learning center has strategies for parents to help their children understand money management.


$0 if owned by a child under 18


  • The app makes learning about money fun
  • Kids only need a $1 balance to earn interest
  • It teaches the concept of spending, saving, and giving


7. Capital One Kids Account

The Capital One Kids account is free. It teaches kids the basics of financial responsibility, which can be peace of mind for parents. There is no minimum balance required for kids to earn a 3% APY. Parents can keep an eye on their kids savings with the app. Automatic deposits can be made in the kids accounts, and parents can set up chores that coincide with the payments. It is possible for parents to teach their children how to budget and manage their money.

Kids can have more than one account, setting up individual accounts for each goal, and parents can easily transfer funds from their Capital One or external bank account to the kids’ accounts. It can be done in a matter of minutes, giving parents peace of mind that their kids are learning how to save and manage their money.


No fees


  • The app makes saving fun and free
  • It pays high interest on any balance
  • The app is user-friendly for kids and adults

8. Fidelity Youth Account

If you have a teen ready to learn about investing, let them have a Fidelity Youth Account. It’s similar to the adult Fidelity account and allows teens to invest how they want. The brokerage account is for teens ages 13 to 17 and allows them to buy stocks, Fidelity mutual funds. Fidelity mutual funds are a great option for investors.

The account has a free card so teens can learn to manage their finances. The debit card makes it easier for teens to shop safely online. There are no account fees for using the debit card. With no hidden costs, using the debit card is a great way to manage your money.

Parents can follow along with the activity of their teen. They can use this to make sure their teen is safe online. Teens can use the app to build their own portfolios. It gives parents peace of mind that their teens are in control of their finances.


No fees


  • It gives teens first-hand knowledge of investing
  • Teens can buy fractional shares
  • Includes a free debit card

Allowance Apps for Kids

Tracking allowance can take a long time and kids lose interest fast. One of the best allowance apps for kids makes it easy to track money earned and motivate kids to do their chores to reach their goals. It is easy to set limits, provide rewards, and teach money management skills with these apps.

9. Homey

The Homey allowance app helps kids learn how to work. It encourages them to save. Homey teaches kids how to work toward what they want by setting goals and working toward them. You can help them learn how to manage their money by transferring funds from their checking or savings account. At an early age, this is a great way to teach budgeting and money management.

The Homey app lets family members know when chores are due. Family members can assign rewards for completing tasks and track their progress. It helps the family work toward their financial goals by keeping everyone on the same page. It helps to eliminate potential surprises when it comes to budgeting and spending.


Basic functions include accounts for up to three family members to track their chores. It’s easy for busy parents to manage their family’s responsibilities. You can link your checking account to the kids’ accounts to transfer funds for completed chores with an unlimited account.


  • It helps keep the entire family on the same page
  • It helps kids learn delayed gratification
  • Parents get help around the house


10. iAllowance

Track and pay for your child’s chores with iAllowance. iAllowance can be used to help your child learn the value of saving. You can set the chore and automatic transfers on the app. It makes it easy to manage household tasks by assigning chores and rewards to family members. For example, link your child’s bank account and set up times for automatic withdrawals, or you can handle them manually.

Money earned and spent are tracked by iAllowance. It allows parents to reward their children for learning financial responsibility. If you know your child’s financial situation with a quick look at the dashboard, you don’t have to worry about having cash available. It’s easy to budget for your child’s expenses.


$2.99 for the app


  • It simplifies paying allowance
  • Parents have control over how money is received and spent
  • Kids can learn how to earn money by completing their chores


11. BusyKid

BusyKid is for kids and teens. It helps kids learn important financial skills, like budgeting and saving, as they earn money for their hard work. It helps kids of all ages learn how to manage their money.

Kids are paid an allowance as they complete their chores. Kids can learn about money management and budgeting from this allowance. It can be either automatic or manual. Different levels of comfort and convenience can be provided by automatic or manual operation. Up to five pre-paid cards are included in the app, which encourages kids to save, spend, and give. It gives parents a way to keep an eye on their children’s spending habits.

Kids don’t spend what they saved if parents pay parent-paid interest or lock money in certain accounts. It is easier for parents to teach their children the value of saving since they can easily monitor their progress. Money can be added as gifts by friends and family. It is possible to show your love and appreciation for someone special with a gift of money.


$3.99 per month


  • It motivates kids and teens to do their chores to earn an allowance
  • Parents can follow along, helping kids and teens learn financial literacy
  • Teens can use the debit card anywhere Visa is accepted


12. GoHenry

GoHenry is for kids and teens. It helps parents set limits on how much they can spend with their children. Each child in your family has a bank account with a card. This will teach them how to budget and save money. The debit card can be used by kids, but parents have control over when and how it can be used. Parents can keep an eye on their child’s spending habits to make sure they use the card in a responsible way.

Push notifications are given when children use debit cards, and parents set spending limits. They keep an eye on account balances to make sure children stay within their budget.


$4.99 per month


  • It has strong parental controls
  • It helps kids learn the importance of working for what they want
  • Kids can create money missions (savings goals) to work toward


Should Parents Use Money Apps with Kids?

One of the best ways to teach kids about finances is through money apps. Kids love to use their devices to learn. Digital natives are people who have grown up in a world with technology. Money apps teach kids how to save, spend, and invest their money. By teaching kids how to use money apps, they can become more responsible with their finances.

There are many money apps for kids to use to learn how to work. The value of money and how to manage it can be better understood with the help of these apps. Kids can invest in stocks with some apps. The basics of budgeting, investing and money management can be learned through this.

Kids are always learning about money and how to manage it. Teaching them basic concepts and skills can help them become financially literate adults. The more you teach them about personal finance, the more natural they will become. Children will be more likely to make smart financial decisions if they are taught the basics of personal finance early on.

Pros and Cons of Using Kids Money Apps

Kids money apps have pros and cons. It is important to be aware of both before making a decision. The use of money apps encourages kids to spend more time on their devices, which is a big deal for some parents. It is important that children are supervised when using these apps. There is educational value in the apps I suggest, helping kids to learn to manage their finances. The basics of budgeting, money management and financial responsibility can be learned with the help of these apps.


Everyone needs to be on the same page when teaching kids about money. If you are giving your kids the freedom to use their debit cards, you need a way to monitor their actions. Setting up parental controls that allow you to monitor their spending is a great way to do this.

Instead of watching over their shoulder or questioning their every move, most money apps for kids have parental controls that keep parents in the loop in real-time. The app makes it easy for parents to keep an eye on their children’s finances. This helps keep everything organized and allows parents to help their children understand their finances. It also helps to teach children the importance of financial planning and budgeting for their future.


It keeps you connected when you both have access to the app and you are on the same page with your finances. When it comes to money matters, this can help to foster a stronger understanding between you and your child. It will be easier for your kids to come to you with a problem. It is possible to create an open and trusting environment for your kids.

You can see their transactions in real-time, so you know what to say to your kids. It is possible for parents to make sure their children are spending within their budget. chore apps help teach kids the value of doing their responsibilities to earn what they want You can use chore apps to reward your kids with experiences, such as family outings or activities they enjoy, as an alternative to monetary rewards. It helps eliminate the instant satisfaction many kids have today.

The Digital World Kids Live In

There is a downside to the fact that the apps are digital. Digital apps can be vulnerable to cyber threats, which can lead to data breeches and other security risks. You are encouraging kids to use their devices more. It is important that time spent on devices is balanced with other activities. If you want to spin it in a positive light, the time spent is educational, and they will digest more information from the app than they would be listening to a parent lecture. This can be a great opportunity for parents to discuss what they have learned with their child.


Kids love and hate learning. Learning can be rewarding and challenging at the same time. When they are home, they want to relax. Money apps can be used to take advantage of other learning opportunities. Money apps teach the basics of budgeting and how to manage their finances in a fun and interactive way.

If they have to work to earn money, you might see some resistance at first. Encourage them to think about the long-term benefits of learning how to manage their money. Most kids enjoy learning how to manage their money. Kids who are taught to make wise financial decisions early will have a better chance of succeeding later in life.

Tips for Parental Control

It is easy to go too far with the parental controls, but remember that this is to help kids learn on their own. It’s important to remember that parental controls should be used as a guide, not a hard and fast rule. Use parental controls with caution, because this doesn’t mean you should set your child up for failure. Talk openly with your child about what you are doing and why, so they understand the reasons for setting parental controls.

  • If you see destructive habits forming, use the controls as a guide. You can teach your child what they could do better next time. If you scold your child for making mistakes, they will feel worse.
  • Let your child know that you are following their financial decisions and that you will step in if necessary. You will be happy to answer any questions they may have, and remind them that you are there to provide guidance if they need it.
  • If there are places you don’t want your child to spend money, feel free to restrict those stores. If you want, you can use parental controls to limit the amount of time your child spends online or playing video games. It will be difficult for your child at first. Explain to your child that you are there to help them navigate their emotions and that the boundaries are important.

The Importance of Financial Literacy for Kids

The earlier kids learn financial literacy, the easier it will be for them to manage their finances as adults.

I want my kids to be able to buy a car, save for a house, and feel financially secure before they move out, but I don’t know about you. I want to make sure I set a good example for my kids so they can be financially independent when they’re older. It is a tall order, but teaching kids finances early will make them more likely to reach their goals. You are giving your children a strong foundation for a secure future by instilling the right financial habits early on.

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