FamZoo is an Android application that helps families develop good financial habits. Special tools allow both adults and children to manage the common budget.
The app uses a game form with real amounts. It is a family bank designed to help parents teach their children how to earn, save, spend and give money. The same goal is presented in the Greenlight Card.
Parents define the rules of the family banking system in a way that is consistent with their values. For example, adults can encourage children for routine work or good grades at school. At the same time, mom and dad withhold wages in case of non fulfillment of household duties.
In addition to a simple system, there are options for complex interest rates, the dangers of debt and the importance of charity. These methods enable parents to teach their children how to properly allocate their budgets.
To use this method, you need to order special debit cards on the official website for yourself and the child. After that, you may attach the necessary information and start monitoring.
It is worth noting that the child has the opportunity to spend money online and offline. All data on these transactions will come to the parents to ensure control over the childrens spending.
- setting up a virtual bank to your family values;
- the ability to teach children to manage money wisely;
- the app is free to download;
- compatibility with actual Android versions.