Kayleigh and Ethan are both getting to an age where money (especially pocket money) is becoming more and more of a thing in our house.
Luckily for us, both seem to understand the concept of money and how it doesn’t grow on trees however with most of their money transferred into their bank accounts they find it hard to understand how much money they do have to spend on their treats.
RoosterMoney is a clever app that you can track your children’s pocket money and they can set their goals to what they would like to save for.
I’ve been trying out the Plus version with the kids, you can get a free 2-month trial of it too if you sign up though my link here (you must add at least one child and log back into the app within 7 days for it to stay active)
With the plus version you can have multiple guardians, so if both you and your partner are responsible for the pocket money you can do it this way.
One great feature with this is as well as adding money to their pocket money account you can also take it away. So, if behaviour has become acceptable it is an option, thankfully neither of my two have got to that point yet!
You can also add chores to the app too, so if you give your children £5 a week pocket money but they can add more to this with the help of the app. Each one can be set to have a price earned and then once this has been completed with a simple click of a button it can be added to their “accounts”.
From a personal point of view too it reminds me just how much pocket money they are both owed! I don’t tend to have cash on me so I can transfer the right amount to their bank from my account.
The one feature the kids really love though is their goals. If there is something they are saving for we can set it up on the app, with the cost. Then when they earn or receive some money this can go against their goal or into a wallet, whichever they prefer. It means they are aware of just how much more money they need to go to get their toy.
This is a great app to get children into the understanding of money and all that comes with it alongside savings and earning. Don’t forget you can get your free 2 month trial with this link.