Description: Bank of Allowance is an allowance management tool for parents and children. Automate allowance deposits, setup bills, encourage saving, introduce investing and more.
allowance (168) chores (63) manage allowance (4) teach saving (4) kids allowance (3) teach finace basics (1) teach investing (1) childs allowance (1) child allowance (1)
Just to be extra clear, we are not an actual bank. Parents hold onto to any cash deposited by their children and hand out cash when children request a withdrawal.
With Bank of Allowance there's no risk of children losing cash they are saving. Children can even earn interest on the funds in their virtual savings accounts (Parents choose the interest percentage).
Parents can schedule automated debits to simulate a bill being auto-drafted. Parents control the amount and frequency of allowances and any "bills" they setup for their children.