Every once in a while there is a new app available that makes me sit back and take notice. The new Family allowance app from TD labs is one of those apps.
The Family Allowance App is designed to teach kids the basics of financial literacy. Unlike some of the other apps and products I have tried this app is easy, and allows the learning to happen naturally. Kids work towards goals they set be it a new toy or simply cash in hand. They can track their earnings and when they have reached their goal make a withdrawal from the bank of Mom and Dad to make their purchase. It’s truly an interactive experience that uses regular family activities like managing allowance and chores, as a way to help teach kids savings concepts and encourage savings behaviour.
As a beta tester over the past month, I have been actively testing and giving feedback on TD Lab’s Family Allowance app. It’s been fun to see them take the feedback that I have left in app and applied it to app updates, even little suggestions like more theme options.
This isn’t your ordinary chore tracking app. It features:
- 3 fun themes for kids to choose from with the chance to earn their way to others.
- Track an unlimited number of children. This is especially handy for parents or caregivers to many.
- A separate Parent/Guardian area where you can get an overview of your child’s achievements, how much they have earned, add chores, set up an allowance and more.
- Kids have an active role in tracking of their allowance. They can see how close they are to saving for the things they want, watch those savings GROW, and LEVEL-UP to earn rewards.
One of my favourite features of the app was a suggestion from a fellow beta tester. She suggested that chore be offered “Up for Grabs”. With so many kids we don’t assign chores there is just a list for them to choose from. With this option I can set the chore to be up for grabs daily or weekly and let the kids pick what they want to do to earn their way to rewards. It’s been interesting to see who is motivated to save and it helps create a little friendly competition which has meant less pestering from me to get things done. It works so much better than the sticky notes I was using.
TD labs wants you to have the opportunity to shape the app too. Simply download the FREE app from the Google Play Store and start using it. Anytime you find an error, wish something was different or have an eureka moment for a new feature, simply shake your device to activate the feedback survey. The great team over at TD Labs takes that suggestion and may apply it to future app updates.
The TD Family Allowance app has earned its spot on the front page of my phone. This family management app gets two thumbs up from me and each of the kids for ease of use and functionality. To download the TD Family Allowance app visit – http://bit.ly/1MwVwdC.
Disclosure – I was asked to be a beta tester of the Family Allowance and was compensated for my role and this post. All opinions expressed are my own.