A lot or a little?
The parents' guide to what's in this app.
What parents need to know
What's it about?
ROOSTERMONEY ALLOWANCE MANAGER helps kids manage their money, track their chores, and consider charitable giving. The free version of the app supports two adults to help manage accounts and the ability to add a separate account for each child. Kids set a PIN for their account that they'll need to remember. Account managers set up a regular allowance and can also post individual gifts/payments for each of the kids. It also allows kids to distribute their money into three pots: Save, Give, and Spend. Kids might want to set goals for something they are saving for, and they can track that as well. If they choose to place money in the Give pot, they can choose a charity of their choice via JustGiving. Parents may even choose to have the allowance automatically split between what kids can spend and what they should save each week. A chart helps kids see how they are spending and how their other pots are growing over time. Money can easily be added or subtracted on the fly, such as during a shopping trip. With the exception of the charitable giving, the money is all virtual. The Plus subscription includes the ability for adults to add interest to the Save pot, the ability to assign/track chores on a regular basis, and the ability for kids to request jobs/chores to earn extra money and to report on chores completed.
Is it any good?
This is a great tool for educating kids about financial responsibility. As adults add or subtract money, kids can see their balance grow or shrink over time and can work toward goals in a visible way. The line chart that tracks the ups and downs of each pot's balance provides another way for kids to understand their finances. Families will also appreciate that they can choose whether or not to provide the Spend and Give accounts. They may start younger kids with a single account and then add on as kids grow older. The overall interface is streamlined and allows users to focus on the task at hand. There are occasional tasks and actions that aren't as intuitive, however. For example, the option to switch from a parent account to a child account is located in a different place than the one to switch from a child account back to the parent. Families who are looking for an allowance tracking tool will likely find all that they need in RoosterMoney Allowance Manager. As a bonus, the free account feels just as polished as the Plus version. Those who don't yet need chore tracking or other premium features won't feel the need to upgrade simply to have a more positive experience.
Talk to your kids about ...
Families can talk about saving in general and with apps like RoosterMoney Allowance Manager. Why should kids save their money? What might they save for? How does interest work?
Discuss charitable giving. Does your family make donations? How do you decide what and where to give?
- Devices: iPhone, iPod Touch, iPad, Android
- Price: Free
- Pricing structure: Free ($2.99/month, $18.99/year for all features)
- Release date: November 5, 2018
- Category: Productivity
- Size: 26.70 MB
- Publisher: World Learning Ltd
- Version: 3.14.2
- Minimum software requirements: iOS 9.3 or later; Android 5.1 and up
- Last updated: June 19, 2020
Our editors recommend
For kids who love time-management and money apps
Common Sense Media's unbiased ratings are created by expert reviewers and aren't influenced by the product's creators or by any of our funders, affiliates, or partners.