Are you worried that your children not knowing how to manage their money and would spend recklessly, but you lack the tools and resources to teach them properly? FinPod is here to help! In our materialistic world, there are temptations everywhere and countless things to spend money on – toys, clothing, snacks, you name it. Children who don’t have a solid understanding of money are surely at risk of spending their savings all in a heartbeat, and that might have more lasting impacts than an empty piggy bank that you could imagine if proper money management isn’t taught at a young age and kids are allowed to just spend freely with virtually unlimited resources.
Let your kids learn healthy money management through everyday tasks
By transforming daily parenting routines such as housework, homework, and other chores into tasks and missions while rewarding your child for finishing them, the FinPod App integrates financial management into daily life. You may transform your child’s constant desires into a gentleman’s agreement and a source of learning motivation by defining objectives and goals together.
The current generation of children is much more attached to cell phones more so than game consoles and comic books, hence creating an opportunity for parents to leverage the cell phone as a platform for financial education. Through the FinPod App, children can track all their tasks, savings and objectives progress easily with the FinPod App’s graphical and chart-based platform, in addition to the FinPod proprietary-developed mobile game that makes learning about money management engaging and enjoyable for children.
3 Quick Steps to Create Your FinPod account
#1 Download the FinPod App
#2 Register your FinPod account as a parent
#3 Input your e-mail and password
Create A FinPod Account for Your Child
By entering your children’s names, genders, and ages, you may instantly create a unique profile for each of them. Your child can access the FinPod App from your cell phone, or when he/she is old enough to own his/her own cell phone, FinPod can be installed on your kids’ own cell phones and paired with the parent’s account to allow syncing of account information, so your kids can check on their accounts at any time, effectively bringing their own financial management toolkit everywhere.
“Parent Mode” – 5 Core Features to Teach Kids about Finance
#1 Send Money and Rewards
FinPod makes it simple to send pocket money/allowance, or as a one-off reward to your kids! In the App, you may set up recurrent transfers (either as stars or allowance), such as weekly allowance, as well for transfers that are scheduled on particular dates, like birthdays or Christmas. Additionally, you can offer one-time rewards, say for positive behavior.
#2 Assign Task
Simply fill out the task details and set a deadline will allow you to assign tasks and objectives for your child. You have the option of setting the reward for each task, stars and/or money, and design your reward schedule together with your children. For younger kids, you can start by using stars as the reward system to introduce them to the concept of working for a reward, and once that concept is established it can be transitioned to a combination with money so children can start learning about financial concepts.
#3 Review Task
The tasks assigned to your children are listed on a dashboard, allowing you to quickly evaluate the numerous assignments and see whether they have been performed or not. To review and rate each task individually, you can tap on the task details. Once the tasks are reviewed, the pre-agreed rewards will be automatically registered to your child’s account.
#4 Track Tasks and Saving Progress
Lost track of your child’s to-do list? FinPod allows you to keep track of all your child’s daily chores, their completion status and what requires attention in real-time, allowing you to stay on top of their progress and give your kids timely reminders. Additionally, you may check on your child’s savings balance and incoming/outgoing transaction history at any time.
#5 Add Wishes
Manage your children’s desires through communication and agreeing with them on defined saving wishes – set a timeline and target amount, whether it be in money or stars, and let them work toward their goal and stay motivated.
“Kids Mode”- 4 Core Features for Children to Learn about Money
#1 View and Submit Tasks
FinPod allows kids to view, submit, and report completed tasks to parents. Additionally, the notification feature serves as timely reminders for children on outstanding tasks, reducing the need for parents’ constant chasing up on finishing the tasks.
#2 Withdraw Money and Redeem Rewards
Children can withdraw money or redeem stars from their virtual account recorded in the App and managed by their parents to purchase snacks or stationery. Let your kids decide how to spend their money and rewards so that they can gradually learn about money management.
#3 Save to Wish
Children can save their money into different wishes, apart from simply withdrawing it or exchanging stars, which allows them to gradually learn about saving, planning, and trade-offs which are essential skills in money management.
#4 The FinPod Game (Coming Soon!)
Education and entertainment can be the best combination for engaging children to learn while having fun. FinPod will soon launch its proprietary-developed mobile game that brings children through the journey of learning about finance in a series of quests and virtual worlds. This will be in addition to all the bookkeeping and task functions as mentioned and connected to the app, so kids can actively and enjoyably increase their understanding of financial management through an entertaining game.
Add-Ons to Make Financial Education Engaging!
#1 FinPod Academy
Parenting and money management lessons in frequently updated, bite-sized blog posts on tips to help you teach money management to your kids, offering advice on organizing and developing your children’s saving and spending habits.
#2 FinPod Events (Coming Soon!)
FinPod will organize a variety of members-only events if you’re interested in learning more about money management. The topical workshops, seminars, fun fairs etc offer a holistic experience across a variety of wealth and financial management areas and for you to better organize your family finances and raise money-smart kids!
#3 Bank Connectivity (Coming Soon!)
The current version of FinPod of recording money and transactions virtually and will be expanded to include family banking functions that incorporate internet banking into your day-to-day interactions with your kids. Please stay tuned for updates!
Download FinPod Today!
Be the first to experience FinPod! Download and create your account in just 5 mins.
The next-generation super app to organize family tasks, rewards, pocket money and entertainment for your children.
More questions about FinPod?