Family Bank FB1.1

Benjamin Bruhl – Commercial – iOS
out of 4 votes

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Teaching children about financial management is a fundamental aspect of parenting, yet it often presents challenges that can lead to frustration for both parents and children alike. Common issues include:
<ul>
 <li>Overlooking allowance distribution schedules</li>
 <li>Losing track of total allowance owed</li>
 <li>Inadequate cash availability</li>
 <li>Children misplacing or forgetting their money</li>
 <li>Forgetting how funds were spent</li>
</ul>
A potential solution to these issues is the app designed to function as a 'virtual bank.' This tool allows parents to manage their children’s allowance without needing to establish a traditional account with a financial institution. Within the app, parents assume the role of the banker, gaining the ability to allocate allowances across multiple accounts, track purchases, and categorize funds into areas such as savings, charity, and personal spending.
This approach not only simplifies the management of finances but also serves as an educational platform where parents can guide their children in understanding essential money principles. Notably, the app includes features such as:
<ul>
 <li>The ability to create multiple accounts for each child</li>
 <li>Comprehensive access for parents to view or modify all accounts</li>
 <li>Detailed tracking of account balances and expenditure history</li>
 <li>Options for depositing or withdrawing money from a child's account</li>
 <li>The capability to split deposits or withdrawals among different account categories (savings, charity, fun)</li>
</ul>

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