![]() Managing Allowance and Choresĭo you want to give your child a regular allowance? What about offering money in exchange for household chores and tasks? ![]() However, regardless of how old your children are or how long they’ve been learning about finances, there are a few specific areas of focus to consider when browsing apps. ![]() The financial app(s) you choose will vary depending on your child’s age and experience with money. (Personal Capital is now Empower) Key Lessons Now, if you’re considering a money app for your child, teen, or young adult, below are a few of our favorites. It’s free and has a ton of features to help you get your financial life in order. One of our favorite tools for adults to use to track their finances is Empower. These apps allow parents to pay their children for chores or allowance, track their spending, teach them about saving and budgeting, and even guide them into their first investments. Parents today have the opportunity to do so much more for their kids’ future, and they have the incredible tools - like money apps and platforms to help them do it. We didn’t have much financial education in school, either, with only a few days dedicated to things like writing a check and calculating interest. Unfortunately, most of these were learned by watching my parents make bad decisions that I was determined not to repeat. I grew up learning many financial lessons from my parents. This content has not been provided by, reviewed, approved or endorsed by any advertiser, unless otherwise noted below. We may receive compensation from the providers of some products mentioned in this article.
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