Acorns Early is a kids’ banking application designed to help children and teens learn money skills in a fun way. This Android utility allows parents to manage their kids’ spendings and savings. It is developed in collaboration with Acorns investing platform.
Card and tools
The app is primarily designed for children and teens aged 6 to 18 years old. It allows them to automatically open a debit card and personalize it with more than 35 designs. This utility is equipped with educational tools and resources. It includes interactive lessons that simplify complex financial concepts. Therefore kids can understand saving, spending, and investing.
Parental control
Parents have full control over the accounts created for their children. They can set limits on spending, monitor transactions, and so on. It is possible to connect a bank card to a child’s profile to quickly transfer money.
Opportunities
Moreover, children can set up specific savings goals, for example, educational expenses, vacations, toys, or other milestones. There is an opportunity to perform various tasks including household chores and get rewarded. Also, kids may adjust autosaving, including rounding up expenses to the nearest dollar. It is possible to track the progress in a separate tab.
For children over 13, advanced functionalities are offered, including the ability to conduct financial transactions. There is an option to transfer funds and request their receipt.
Features
- allows to open a debit card and personalize it;
- parents have full control over their kids’ accounts;
- children can set up specific savings goals;
- it is possible to perform various tasks and get rewards;
- the app is free to download and use;
- compatible with current Android versions.
