I have to believe this is the next big thing in the world of tech as well as parenting. This new app, BusyKid, teaches young learners to be financially savvy with a mobile allowance system. Parents are able to set up a weekly chore chart and assign certain tasks with a designated time frame. Parents can keep track of tasks, rate how they were performed, and transfer cash over to your kid’s account on ‘payday’, which happens to be every Friday. For the modern parent, this is a revolutionary way of teaching your children to be organized, independent, and understand the value of money. BusyKid even takes it a step further...
The genius behind BusyKid is that it also lets your kids have financial freedom with the money they make. Within the app, they can chose to save their earnings, invest in actual stocks (and sell those stocks when they please), spend their cash on gift cards from over 250 retailers, or even donate to charities such as the Boys & Girls Club or Autism Speaks. Their money is backed with bank-level protection and their funds are held in a FDIC bank account. These features will allow your kids to be creative and systematic with their earnings, and who wouldn’t want to their kids to know how to invest?
Overall, I speak very highly of this program and once my children are of age, I will try this app with the family. The best and brightest in the business world started at a young age, and with platforms such as BusyKid, we could teach the next generation business practices that are invaluable. I’m also curious as to what companies my kids would invest in… ?
