It’s been quite the first year at BusyKid. In just its first year, the
chores and allowance app which helps kids prepare for financial
decisions in the real world, has seen kids complete over one million
chores and earn about $1.3 million in allowance.
While generation after generation have faced many of the same challenges
when it comes to raising children, it appears as if there has never been
a more critical time than now in the development process to teach kids
about a strong work ethic and managing money.
BusyKid is the first chore/allowance app where children can earn, save,
share, spend, and invest real money wisely. The just released BusyKid
app is available for free download in the Apple and Google Play stores
and the timing couldn’t be better. The new BusyKid app is a complete
redesign of the original platform and features an enhanced calendar,
chore tracking, parent dashboard and push notifications instead of
relying on text messages.
Studies continue to show that millions of Americans have no savings, are
weighted down with huge debt and fail to take advantage of a
mostly-positive stock market. These issues stem a great deal from the
lack of financial education in the U.S., but BusyKid has been designed
to provide real “life lessons” through hands-on experience earning,
saving, sharing, spending, and investing real allowance each week.
“I’m not sure if there has ever been a more critical time for financial
education,” said BusyKid Co-Founder/CEO Gregg Murset. “It’s not just
about counting pennies or having dollars in the wallet anymore.
Technology has made money invisible, and handling it remotely can be
confusing for anyone, especially children. For the majority of our kids,
schools will never teach them the important financial lessons they need
to navigate adulthood, so they make it up as they go. This is why it’s
critically important for parents to jump in as soon as possible to make
sure they’re ready.”
Chores and allowance have been linked together as long as peanut butter
and jelly. However, many parents view chores and allowance in varying
ways. Some feel their kids work hard enough between school and
extracurricular activities, so they don’t give their kids chores. Others
expect their kids to help out around the house simply as a member of the
family who needs to contribute. BusyKid takes a new approach, framing
chores as the first job for the child with parents as the employer.
“When it’s time for your child to get a job, how will they know how to
act, perform or meet expectations if they’ve never done it before,”
added Murset. “We want to end the chore/allowance debate by changing the
way they have been traditionally considered. Think of chores as the
first job, the allowance as the paycheck and the parent as the employer.
Then it all becomes a training ground for our kids who will need to face
thousands of financial decisions in their lives.”
More About BusyKid
BusyKid features pre-loaded chores based on children’s ages that parents
can customize as needed. Kids easily log into their account, review
their tasks and mark them off when completed. Kids receive allowance
every Friday (Payday) after parents check the work to verify that it was
completed and approve a notification on the phone to ok the transfer of
funds. After getting paid, children can save some money, donate some and
use the rest to get cash, buy shares of real stock or make purchases by
using the BusyKid VISA Prepaid Spend Card. BusyKid is only $24.99 a year
for an entire family and is available via Apple Store and Google Play.
For more information about BusyKid, visit http://www.busykid.com.