These budgeting apps will help keep your finances organized and your wallet full.
As most of us are still trying to work from home, it’d be nice to get the kids to help around the house and earn an allowance. There’s a fairly new app that helps accomplish that, called “Busy Kids”. Founder of the app, Greg Murset says he hopes the app helps kids learn some fundamental skills.
According to a 2018 National Financial Capability Study, 48% of individuals in Nevada lack a “rainy day” fund to cover emergencies such as sickness, job loss, or economic downturn.
Confession: I could never keep kids’ chores and allowances straight. I tried sticker charts; I tried whiteboards; I even tried apps. Each model failed because the chores assigned didn’t translate to the chores worked and definitely didn’t translate to the allowance paid to kids or even money spent by kids.
Whether you are a new parent or a seasoned pro, having kids means your life will never be the same. Lucky for you, there’s a whole slew of apps will help any parent navigate the world of baby care on up through the school years. From medical advice and nursing to tracking precious moments and keeping the family organized, here are the best apps for parents. Scroll down to find out more.
Many adults make New Year’s Resolutions every January, but the sad reality is only about 8 percent of people actually achieve the goals they set. Of course no parent wants to set this as an example for children. So instead of doing individual resolutions this year, why not do family resolutions so you can all keep each other accountable?
Managing money can be challenging for many adults, and an even more difficult task is teaching financial literacy to their children, but a Utah-born financial planner has developed a solution that could help parents show their kids the basics of earning, saving and investing their hard-earned dollars.
BusyKid ($12 per year) is a web-based service that teaches children fiscal responsibility by encouraging them to perform household chores. For $12 per year, parents assign tasks to family members, placing a cash value on each chore and allowing children to determine how money is spent or saved
BusyKid is an allowance management platform for families that keeps track of the work children do around the house. The company just launched the BusyKid Spend Card, a reloadable Visa card that teaches kids how to manage their money.
If your New Year’s resolution involves getting your financial life in order, financial expert Gregg Murset, CEO of BusyKid, has some advice for you. To get on the right track—January is Financial Wellness Month, after all—Murset recommends starting with more specific goals instead of resolving to pay down debt or save for retirement without an actual plan. Then, at the end of each month, review your progress honestly and do it all over again.
Saving money and dealing with finances seems to be a lost art-form these days. Americans are struggling to build on their savings.
A recent study by GOBankingRates showed that 57 percent of Americans have under $1,000 in their savings accounts. Even worse, 39 percent have no savings at all.
Sometimes, teaching kids about money is not always easy, and that is why a Scottsdale company developed an app for parents to give their kids some real life experience, when it comes to managing their cash.
With the BusyKid app, families are able to work together to prepare children to face financial realities when they get older.
If you have kids you know you’re on the hook for their spending, at least for a while. What you might not know is that you’re also on the hook for their financial education, too.
With only 21% of parents regularly talking about money with their kids and only 10% interested in teaching them about managing credit cards or investing, according to a study from the money app BusyKid, it looks like parents need some hel
It can be tough for busy parents to stay on top of their finances and just as tough for them to find time to teach their kids about money. However, there is one Arizona-based company that is offering a way to do both. With BusyKid, chores, allowances and finances all come together into one easy solution.
Many children as young as 4 and 5 can grasp the concept of being responsible with chores, budgeting allowances and keeping important paperwork, according to one official.
With the current tax season upon everyone, now is the perfect time for parents to teach their children how to do weekly chores, monitor their allowance money and learn how they can eventually become productive, skilled adults, said Gregg Murset, CEO of the Scottsdale, Ariz.-based BusyKid and its accompanying website, www.busykid.com.
When we were kids, a weekly allowance was something we tucked away in a drawer, piggy bank, jewelry box, you name it—really anything we could cram our change and crumpled bills into. Then there was that feeling of accomplishment when we’d dump all that hard earned cashola onto our beds to see if we had enough to buy that new toy we were eyeing.
It’s never too early to teach children about money management. In a cashless society, technology plays a large role.
There are dozens of smartphone applications making it easier for kids, and parents, to balance chores and financial responsibilities.
“I think students should learn both what it’s like to operate with cash as well as — like most of us operate — with credit cards or debit cards,” said Jodi Bloemker, director of community investment with the United Way of St. Joseph. “You need to have an understanding of both.”
The objective of the new chore app “Busy Kid” is relatively simple: make parents have to nag less while teaching kids about money.
For each chore a kid completes, Busy Kid transfers money from their parents’ checking account into their own account. There, kids can manage it through three different options: save, share or spend.
NEW YORK — “I have to wipe down bathroom cabinets, clean the toilets. Feed Tofu.”
Like most kids, Sterling used to complain about the chore list but he’s changed his tune since his work began showing up on his phone attached to an account all in his name.
“I was like yes!”Like this is my own bank and I can access it myself without my mom having to give it to me instead,” he said.
While the debate rages on about whether screen time is good or bad for kids, we can at least compromise by giving them apps that might teach them a thing or two, right?
While allowance has long been a tool parent have used for teaching kids the value of hard work and money management, tossing your kid a weekly five- or ten-dollar bill leaves out a lot of modern financial education. Good thing there’s an app for that.
Teaching financial literacy to kids is more than just piggy banks and cash allowance for chores. Learning to save and spend has become more difficult in this time of plastic money.
“No one carries cash,” Dawn McCord, a mother of three told CBS11 “And, it is really inconvenient paying cash for chores and looking for change etc.”
Raising a financially literate child doesn’t have to be difficult. In a world of credit cards, online banking, tax codes, investments and retirement plans, keeping up with money can be tough for adults, and even more so for kids. So, for the many parents who want to teach their kid economic ideas and prepare them for their financial futures, where the heck is the starting point?
Wouldn’t it be nice to not have to nag kids to do their chores? For some parents, that day may have just gotten a little closer.
Eleven-year-old Mia Han takes out the trash. She’s fairly honest about how she feels about it. “It’s not the funnest thing in the world, but I’ll do it if I have to,” said the Mountain View sixth-grader.
Big brother Nicholas pretty much felt the same way. Then his parents told him about BusyKid.
Gregg Murset has six children. From Murset’s perspective, it made “cents” to teach his children how to make money at a young age.
“They learned early that they had to do chores to earn money to buy the things they wanted,” said Murset. “They had to mow the lawn, feed the dog, and perform other chores. By aligning their chores with incentives, I was able to motivate them easily. But I had to stick with it.”
Before girls even get a chance to move into the working world, where they will earn 79 cents for every $1 men earn (and less if she’s a woman of color), they’re already being stiffed by their parents.
Data analyzed by BusyKid.com found that parents pay boys twice as much for doing chores per week.
Boys take home an average weekly allowance of $13.80 for their chores.
Girls? Just $6.71.
Companies have taken a lot of heat about the gender pay gap, which results in women making just 82 cents for each dollar a man earns. But mom and dad play a role as well, according to a new study indicating the pay gap starts at home.
Parents pay their boys more than twice as much allowance as they give their girls. That’s a finding from an analysis of millions of transactions conducted by 10,000 families on the online allowance platform BusyKid. The pay gap is present, though not as dramatic, even when parents pay their kids “bonuses,” said BusyKid Chief Executive Gregg Murset.
Making good decisions is no small feat, especially for little ones who tend to fall more on the impulsive side (every kid). It’s up to us parents to guide them in the right direction. To help you out, we’ve gathered practical tips for letting go at the right time, and small ways you can help your kids assert their independence in order to become confident people ready to tackle the world.
Subscribe to BusyKid and if for any reason you are not happy with the performance of our app or cards within the first 30 days, we will refund your subscription, as well as, any money inside the app or on a card.
COPYRIGHT © 2023 BusyKid®
Privacy & Terms
* BusyKid Debit Card is issued by MVB Bank, Inc, Member FDIC, pursuant to a license from Visa®️ USA Inc. Cliq® is registered ISO/MSP of MVB Bank, Inc.
All cardholders funds are insured by the FDIC in accordance with the FDIC’s applicable terms and conditions. For more information about your card terms and conditions including the VISA Zero Liability policy go here. Cliq®️️ is registered ISO/MSP of MVB Bank, Inc.
*BusyKid can not refund any stock purchases made. Only the subscription paid will be refunded. Guarantee applies to new subscriptions only.
Brokerage services provided by Apex Clearing, an SEC-registered broker-dealer and member of FINRA /SIPC.
Investments in securities: Not FDIC Insured • No Bank Guarantee • May Lose Value. Investing in securities involves risks, and there is always the potential of losing money when you invest in securities. Before investing, consider your investment objectives, charges and expenses. For more details, see our Form CRS, Broker Check and other disclosures.
Actual annual cost is $49.74 when a credit or debit card is used as a funding source. There is no transaction fee when a bank account is used.