For the last couple of months I have been using a new app called Rooster Money for managing my kids pocket money.
The reason I wanted an app to do this is because when I was doing this manually (putting some money into a jar every week) I would forget sometimes and so I wanted something that would be automatic. I also had hoped that there was something out there that would enable me to add extra pocket money for jobs completed.
Rooster Money does all of the above and more. So when I emailed them to ask if I could review it for free, in exchange for writing a blog post about it, and they replied to say that would be fine, I was very happy.
So a little bit about the app and what you can do:
- Set up a pocket money routine for your kids (weekly, monthly, or however you want to do it)
- View balances and statement so you can keep track of kids money
- Boost pocket money for jobs, achievements or as gifts
- Remove pocket money and hand it to your kids in cash
- Take pictures of things at the shops and set these as savings targets for your kids to save up for
- Lock their allowances
Key features for kids:
- Take control of your pocket money
- Know how much money you have and how it has been saved and spent by checking your statement
- Create goals to save for, and upload your own photos
- Save money to add to a Savings Account
- Customise your Dashboard and make your account your own
- Get a head-start learning about money
This is what the main dashboard looks like – it gives you an overview of how much pocket money each child has:
Then when you click into one of your children’s accounts, here is what you see:
The kids have the option of saving some of their pocket money:
They can also set up goals, for things they want to save up for:
With the RoosterPlus account you can set up additional jobs. These can either be jobs they need to do in order to get their allowance, or jobs that they can do to earn EXTRA pocket money. These jobs can be customized.
So you can either choose from a list of options that are already set up, or you can create one from scratch.
Here is what the statement looks like:
Overall, I love using the app. The kids can also install it on their own tablets or phones so they can manage their own accounts.
I would definitely recommend this as a way to manage your kids pocket money.