pocketmoney

pocketmoney – children learn to handle money, parents keep track Make pocket money dependable – and easy to follow. You agree on the account rules, the app posts them by itself, and on their own device your child sees exactly what you see: what came in, what went out and why. ACCOUNT AND POCKET MONEY • One account per child, with its own amount and its own payout day • The app posts the pocket money itself – nobody has to remember • Weekly or once a month • Add entries by hand at any time, paid in or paid out, with a note • You pick the account currency yourself – 36 to choose from INTEREST THAT MAKES SENSE • Interest rate per month in percent, set by you; posted on the 1st of each month • A cap limits the amount interest is paid on • Two ways to calculate it: the lowest balance during the month or the one on the last day – the first makes clever timing pointless • Interest is never charged on a negative balance ACCOUNT RULES THAT STAY VISIBLE • Before you save, the app shows what changes: “Pocket money: €15 → €18” • Every change becomes a line in your child’s account – with before and after • New rules apply from the next payout onwards, never retroactively • A settled month stays untouchable, so what interest was paid on can still be checked later SAVINGS GOALS AND REQUESTS • A savings goal with an amount and a name, plus a forecast of when it will be reached • Your child can ask to withdraw and say what it is for • You decide in the app – with an answer your child can look up later • Requests that were turned down stay visible too, reason and all SPENDING YOU CAN SORT • Every expense gets a category: Food, Leisure, Clothing, Other – or one of your own • A pie chart shows where the money went, by week, month, year or all time • Beside it stands what was left over – saving is the remainder, not a category DESIGNS THAT ARE EARNED • 16 colour worlds, each with its own pattern and mascot • Twelve are earned through milestones – sticking with it, saving, reaching the first goal; four come with the full version FOR THE WHOLE FAMILY • Up to two grown-ups manage the same accounts; they sign in with their Google account • Children’s devices are paired with a one-time code – children need no Google account • With no connection the app shows the last state and says that it is old DATA MINIMISATION pocketmoney does not ask for a surname, a date of birth or an age. The display name may be a nickname. There is no advertising, no tracking and no sharing with third parties. The only permission the app asks for is internet access. FULL VERSION The app starts with a three-month trial in which everything is open. After that the account, the balance, the history and the payday remain; a month later the account rules fall back to their basic setting – at most €10 a month, no interest – and entries by hand are no longer possible. The app names the date beforehand. The full version is a yearly subscription: account rules, entries by hand, savings goals, withdrawal requests, all designs, the appearance settings and the interfaces in the browser. BACKGROUND In 2023 the European Commission and the OECD International Network on Financial Education (OECD-INFE) published a joint financial competence framework for children and youth. It considers it important to lay the foundations early – competences from six years of age, explicitly also “from the earliest possible age” – and counts planning and managing finances, with saving, among its four content areas. This app is not an educational programme and is not affiliated with these institutions. Source: European Commission and OECD-INFE, Financial competence framework for children and youth in the European Union, 27 September 2023, section 1.2.3.