Phoenix, AZ –BusyKid, the first and only online chore chart where children can earn, save, share, spend and invest real money, has created a Challenge Coin to recognize children who have successfully demonstrated the ability to earn and manage money through the BusyKid app. Nominations for the BusyKid Challenge Coin will come from parents or grandparents, and each month a child (or children) from around the U.S. will be selected to receive the 2-inch wide coin.
“We wanted to create something to recognize the significant achievements of children who work hard for a weekly allowance,” said BusyKid Co-Founder & CEO Gregg Murset. “In doing so, these children will also see another example that hard work pays off, and feel our appreciation for the commitment they made to practice the basics of finance.”
Dating back to the Roman Empire, Challenge Coins were awarded to soldiers for their achievements in battle or in performing other duties. Nowadays, Challenge Coins have become a long-lasting, highly-collectable way to show appreciation and allegiance to a group. Heavily used by multiple branches of the military and law enforcement, Challenge Coins have also been minted by U.S. Presidents and many civic organizations.
The recipient of the first BusyKid Challenge Coin was 10-year old, Spencer Arana of Chicago, IL. Spencer has completed more than 200 hundred chores and averages about $16 in allowance each week, some of which he has invested in Apple stock.
Using BusyKid, children get to make the critical decisions regarding saving, sharing, investing and spending weekly allowance. This important hands-on experience helps children build sound routines they will need when facing serious financial decisions as adults. Only $14.95 annually for an entire family, BusyKid features pre-loaded chores based on children’s ages, automatic allowance allocation, investment opportunities in real stock and the BusyKid Spend Card – a prepaid Visa® card for kids of all ages.
*The BusyKid Visa® Prepaid Spend Card is issued by Stride Bank, N.A., Member FDIC, pursuant to a licensee from Visa® USA Inc. All cardholder’s funds are insured by the FDIC in accordance with the FDIC’s applicable terms and conditions. For more information about the card’s terms and conditions including the Visa® Zero Liability policy, click here. One BusyKid Visa® Prepaid Spend Card is included with a paid family subscription, but additional cards cost $7.99/yr with a linked bank as a funding source. A small $.55 transaction fee will be added to orders using a credit card. There may be some additional fees associated with the Spend Card, please see our FAQ’s for more information.