Kid-Friendly Online Banking Apps

Here’s a cool way to teach your kids about money: mock mobile banking apps. These popular tools expose kids firsthand to the concept of digital money—which is still money and needs to be managed responsibly. With mock mobile banking apps, kids can manage virtual money, set savings goals, and even earn interest. It’s like a financial playground where they can learn without real-world risks.

Try out these apps with your child to explore mobile banking together. There are many out there, below are just a few examples.

Bankaroo

For kids ages 5-14, try Bankaroo. It offers a virtual bank where kids can set savings goals, track chores, and learn budgeting basics. Getting started is easy:

1. Visit https://bankaroo.com/
2. Create a parent account.
3. Add your child’s profile.
4. Set up virtual accounts (checking, savings, charity).
5. Establish an allowance system.
6. Help your child set goals.
7. Explore together!

Till

For teens, check out Till. It offers a real debit card linked to a digital account. Here’s how to begin:

1. Visit https://www.tillfinancial.com/
2. Download the Till app from the App Store or Google Play.
3. Create a parent account.
4. Add your teen’s profile.
5. Link your bank account.
6. Order a Till debit card for your teen.
7. Set up an allowance or rewards system.
8. Explore together!

Jar at Home Money System

Here’s a fun and easy way to teach your kids about money: the 3-jar money system! With this method, your child will use three clear jars to divide their money into three categories: spending, saving, and giving. This simple and visual approach helps kids learn about budgeting and how to prioritize their financial goals.

• Spending Jar: For things they want to buy now, like toys or treats.
• Saving Jar: For bigger things they want in the future, like a new bike or a special trip.
• Giving Jar: For helping others, like donating to a charity or buying a gift for a friend.

By using these jars, kids can see their money grow and understand the importance of planning and making thoughtful choices with their money.

Whichever method you choose, start small and focus on basics like saving and budgeting.

Happy banking!