You’re never too young to start learning good money habits, but sometimes it can be hard to know what to do or stay on track. Thankfully, like pretty much everything else, there are apps to help out. So we’ve found a few apps to help you manage your money we think are interesting and put them into this blog for you to check out.
Why is it important to manage your money?
Let’s be honest – managing money isn’t the most exciting topic when you’re in high school. Between study, sports, friends, and everything else going on in your life, thinking about budgeting and savings probably isn’t high on your priority list.
But learning good money habits now can set you up for success later on. Whether you’re saving up for something special, managing your part-time job earnings, or just trying to make your pocket money last longer, having control over your finances gives you more freedom to do the things you want to do.
Plus, the skills you develop now (like budgeting, saving, and making smart spending choices) will be super valuable when you’re dealing with bigger financial decisions in the future. Think of it like building muscles at the gym – the more you practice, the stronger you get.
We’ve rounded up some of our favourite money management apps to help you get started. If you don’t find the right one for you on our list, a simple search will probably provide you with a ton more options.
For young people and families
Managing money when you’re young can be tricky, especially if you’re still learning the basics. These apps are specifically designed with teens and families in mind, offering features like allowance tracking, parental controls, and ways to learn about money while you use them.
FamZoo
If you don’t have a bank account, FamZoo could be handy to help you and your parents keep on top of all things financial. With options to mark when chores are completed, send lunch money reminders to your folks, see when and where you’ve spent money, and let your parents pre-load a virtual debit card with funds when you need them.
There is a fee for this app, and be warned parental involvement is required. In fact, they get to more control than you do, and could even turn off your debit card to protect you from fraud (or as a punishment).
iAllowance
iAllowance helps you keep track of chores and pocket money you’ve earned, plus get rewards which you can track and cash-in when you reach your goals.
Get your allowance transferred direct to your account, set up different “banks” for different funds like travel, lunch, phone, etc., and track your spending from each bank. Keep track of your rewards online and convert them into real world treats or extra money.
Busykid
Busykid helps you save, share, spend, and invest your allowance.
Loaded with features to help you learn great money habits, you can even donate part of your earnings, start your own investment portfolio and buy shares, and learn to spend responsibly. There’s no subscription fee when you sign up either.
Greenlight
Greenlight does have a monthly subscription fee, but it’s for the whole family (including up to 5 children) – it can help you learn even more about your financial health and habits.
It includes a debit card per child, automated allowances, instant transfers to your card, real time updates about your spending and account balance, customised savings goals, and your parents can even limit which stores you’re able to use your money in (handy if you have a weakness for one particular shop).
For everyone
Ready to take your money management to the next level? These apps are used by people of all ages to track spending, set budgets, and reach their financial goals. While they aren’t made specifically for teens, they can be super helpful if you’re earning your own money or want more advanced features.
Got a bank account?
Most banks have their own apps, and if you have an account with them, chances are it will be free to download and use. If you don’t have a bank account yet, then maybe this a timely reminder to get one sorted – then you’ll be able to access their free services (including apps) too.
Bank apps allow you to manage your funds, check your balance, transfer between accounts, pay for stuff, and budget your money. You could also check if the app has other handy features, like a savings tracker.
Credit Karma
If you’re serious about your finances, have your own bank account and are earning a wage, or have goals and targets that you’d like to hit, Credit Karma (formerly Mint) could be the app for you.
It offers a wide range of features, including budgeting tools, expense tracking, and provides insights into your monthly spending habits to help you see areas where you can save. It could help you understand exactly where your money goes and make it easier to rein in your spending.
Pocketguard
If you’re a chronic over-spender whose money is always burning a hole in your pocket, then Pocketguard could put the brakes on for you.
It links to all your accounts and tracks your spending, gives you a breakdown of where you spend money, and even suggest ways to save you money and improve your financial health.
Ready to start managing your money?
It’s okay to try out a few different apps until you find one that works for you. The most important thing is to start developing good money habits now, while the stakes are lower – so when you’re dealing with bigger financial decisions in the future, you’ll already have the skills you need.
Looking for more information? We have lots of other money saving tips and tricks on our website here.
