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Managing pocket money can be made easier with a pocket money app. If you have the app on your smartphone, you can manage your pocket money digitally and flexibly.
The pocket money app Knax
The “Knax” app is an app designed to enable your child to keep track of their own finances.
- With this app, it is possible to have the pocket money set between you and your children booked automatically. For example, if you have agreed on an amount of 5 euros every second Monday, you can have this automated in the app.
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In the app, it is also possible for your child to create savings goals. For example, they can set an amount they would like to save up to buy something they have longed for.
- In the app, it is also possible for your child to set savings goals.
- Compared to other apps, it is not possible here to digitally set different savings pots. So if savings are made for different things, this cannot be separated in the app.
- To keep the app secure, it is possible to set a parent pin. This means that only you, as the parent, can debit and credit funds.
- A big advantage of the app is that it is free. A list also suggests to your child what they could spend their pocket money on. This way he or she can look for inspiration.
- How your child could earn more pocket money is not suggested in this app.
- Prior registration is required to use the app. Due to the child-friendly design of the app, it is especially recommended for primary school children.
The app Rooster Money for pocket money
Another app designed to encourage independence and responsibility in your child is “Rooster Money”.
- Rooster Money is an app where you can also have weekly or monthly recurring pocket money booked automatically. This makes it easier to manage the “income”.
- Your child can set different savings goals in the app. The different goals can be assigned to so-called savings pots, which makes saving for the wishes clearer.
- This app also does not allow your children to add or withdraw amounts themselves. With the help of a parent pin, you can tackle these processes together with your child.
- Rooster Money is a free pocket money app. It is available in both German and English. If your child is a little older, they can also use the English version to expand their language skills.
- In the app, you can find lists that suggest possible incomes and possible expenses. For example, you could consider together with the child whether you want to pay him or her for small household chores or the like.
- Rooster Money also requires you to register in advance. The app is especially recommended for slightly older children, as they can save for various wishes. If your child has a smartphone, the app can also work on this.
Managing pocket money with the app Finalino
Managing their own pocket money can also be made possible for children with the app “Finalino”.
- Unlike the other two apps, it is not possible to book pocket money automatically. So you have to enter the pocket money manually every week. This may not be very practical if your child always receives the same amount.
- In Finalino, your child can also assign their different wishes to different savings pots. This makes it easier to keep track of savings goals.
- The parent pin ensures that your child uses the app appropriately. After all, the purpose of the app is to teach your child how to handle money responsibly.
- You don’t have to register in the app and you get the features for free for the first month of use. After this month, you pay €9.99 for a full year.
- You do not have a suggestion list for sources of income in the app. There is also no list for possible expenses in this app. However, your child can divide their own ideas among the savings pots as they wish.
