Many of us grew up receiving an allowance for chores, which is really a simple exchange of effort for money. But that model, while beneficial in teaching the work-for-reward concept, often stops short of deeper lessons about financial literacy – saving, investing, delayed gratification, and tracking spending. P arents on Android or iPhone, as detailed below, can assign tasks, automate allowance, and review activity together , turning weekly chores into teachable money moments. Not only can these apps teach kids the basics of financial literacy along with valuable life lessons about money, they may also increase their enthusiasm for chores and earning money on their own. This is often bound to happen once they see how they can increase their purchasing power beyond the initial amount they’re given. Parents can use them too to help their kids to start to save, build assets, and maybe eventually invest. Find additional tips and ways to set up investment accounts for kids .
Why use, and benefits, of Chore Apps when it comes to financial literacy
Research shows that chores paired with financial incentives teach kids more than work ethic alone . In a 2024 essay from VACU (Virginia Credit Union) , chores are described as tools not just for tidy homes, but for building financial foundations. The apps also help encourage kids to set savings goals (e.g. for a toy or game). When their allowance supports that vision, they learn delayed gratification. Experts caution: if allowance is given unconditionally, children may not internalize the work-to-money link. Apps like BusyKid and Greenlight help bridge that by tying pay to chores. Still, technology is not a substitute for ongoing conversations. Apps offer structure and feedback, but values, money mindset, and deeper skills come from daily family practice, modeling, and dialogue.
Allowance & Chores Bot (Android, iOS)
If you have more than one child with different chore lists and allowance amounts, this app keeps it simple, lets you drag-and-drop schedules, and shows savings projections . Children get to choose a custom cartoon avatar for themselves, and get a daily list of chores to tick off. Parents can easily move chores to different days or swap them between children by simply dragging and dropping. Added features include a projection graph that shows kids how much they’ll save over time based on their schedule, and parents can add special bonus reward conditions. The core app remains free with optional in-app upgrades. Unlocking all of the features requires a subscription of $3 per month or $20 for a year paid in advance. Apple version is here
:
https://apps.apple.com/us/app/chores-allowance-bot/id629797415 Google version is here
:
https://play.google.com/store/apps/details?id=com.wingboat.AllowanceBot&hl=en_US
Acorns Early (iOS / Android)
Acorns has integrated chore and allowance tracking into its children’s financial literacy offering . Note the app was formerly known as GoHenry. Parents can set chore tasks and tie payouts, and kids can round up spending into investments or autosave. It’s ideal for families already using or familiar with Acorns’ financial literacy and investing products who want to unify money tools. Learn more about the Acorns app here https://www.acorns.com/
BusyKid (Android, iOS and Web based)
BusyKid combines task tracking with real money. After chores are completed and approved, the app allows a child to route earnings into spending, saving, giving, or investing (via a custodial account). As even investing $1 a day can allow a kid to become a millionaire , if they start early. he app can help kids learn about investing, a critical financial literacy skill. Parents link up a bank account so that all of these transactions are happening with real money. Pricing is subscription-based. BusyKid advertises family plans rather than per-card annual fees, and investing is available in-app. This is excellent for middle-schoolers or teens who can treat allowance as a mini “portfolio” to manage and monitor. Learn more on BusyKid https://busykid.com/
Famzoo (Android / iOS)
Famzoo is possibly the most comprehensive chore, financial literacy and banking app for families with kids, and has won a number of awards from financial publications and competitions. It’s been around in one form or another for over 10 years now and is definitely one of the most popular apps of this type out there. Famzoo’s centerpiece is a highly detailed chore management system that lets parents do things like assess penalties for missing chores and set up automatic matching contributions to savings. The feature list is much richer than most of the other options in this category. You can opt to run Famzoo either on an “IOU” system that uses virtual money, or by using the platform’s MasterCard debit card to move real funds around. The pricing structure for this app is interesting; it’s actually cheaper to use the debit cards than the IOU system! FamZoo’s subscription covers the whole family and is $5.99/month with discounts for prepaying (e.g., $59.90 for 12 months with a free trial). Card-related fees can apply in specific cases (expedited shipping, extra replacements). Apple
:
https://apps.apple.com/us/app/famzoo-family-finance/id399321476
Google Play
:
https://play.google.com/store/apps/details?id=com.famzoo&hl=en
Greenlight (Android, iOS)
Greenlight is another c hore allocation and spending app that is tied to a debit card, but this one allows parents to block spending at specific locations if desired. They can also set individual spending limits on single transactions, total weekly spend and ATM withdrawals. When kids fire up the app they see at a glance how much they’ve spent for the current week, how much they have in savings and what paid chores are still available to them. One unique feature of Greenlight is that it teaches kids about interest; they get an APR rate on the money they allocate to savings, the payments for which come from the parent account. Greenlight also has added savings goal options, and the app’s developers also allow for investing in fractional shares of stock. Plans start with Core at $5.99/month per family (up to five kids). Families can activate Savings Reward that pays 2% (Core), 3% (Max), 5% (Infinity), or 6% (Family Shield) on kids’ savings balances up to $5,000 per family, paid monthly, with ACH funding required and other conditions. Custom card images are available for an extra fee. More information on Greenlight is here https://greenlight.com/
HomeRoutines (iOS)
HomeRoutines is another good option for Apple users who jus
- want a free and basic chore and allowance tracker
. You can schedule regular repeating weekly chores, set a timer for individual chores, and set automatic reminder messages among other features.
Homey (Android, iOS)
Homey is similar to comprehensive chore and banking apps like FamZoo and Greenlight, but one big difference is that it allows chore money to be directly transferred to a child’s bank account rather than using a prepaid debit card system. It’s thus best for kids who are old enough to handle the responsibilities of a joint bank account. The subscription cost is $5 per month to get access to the app’s full range of features. A free tier exists for smaller households. Learn more about the app here: https://www.homeyapp.net/
S’MoresUp (Android, iOS)
If your focus is more on family management than bankin g, S’MoresUp might be the one for you. But there are some basic, easy to learn features about the basics of financial literacy. In addition to chore lists, this app lets you manage family appointments and events. A “level up” system lets kids earn points for their completed chores and gradually unlock new bonuses. S’MoresUp asks a subscription fee of $3.99 per month or $24.99 per year.
Sweepy
While not a strict financial app, Sweepy gamifies home cleaning and other chores with points and tasks that can be redeemed for rewards. It can complement more finance-oriented apps by making chores more fun while also showing the rewards for doing chores and working hard. It’s less about money lessons and more about task completion and family cooperation, with details here https://sweepy.com/
Chores can help kids save and invest
All of these smartphone apps have pros and cons. No matter which one is used, the point is to start early. Having your kid(s) do some chores, paying them allowance, and helping them manage their money are all very important financial literacy skills. The younger a child starts to learn, the better. The biggest reason to start early is time. Investing a small allowance, at an early age, will allow children to benefit from compound interest as their investments grow over the years. Even starting with a small allowance from a chore app is enough to get started. Or find other tips on how you can start to invest . As using allowance and apps to assign chores is but one way. By
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