Bank of Mom is the ideal iPhone and iPad app for all you mothers out there who feel like a living, breathing ATM as it provides you with the tools you need to give your kids virtual bank accounts so that they can gain a better understanding of where money comes from and where it goes.
Although I’ve seen this kind of concept before, I really like the way the developer has presented this app think it should go a long way towards settling or even preventing disputes over allowances and who is permitted to do this and that.
This is a fantastic app for parents that enables you to easily keep track of your kids’ spending through the medium of virtual bank accounts, providing you with a clear way of helping your kids learn about money and how to use it appropriately.
You can set up as many virtual accounts as you need for each of your children, meaning that you can add checking or savings accounts, and you can even apply to each account to factor in money being deposited into savings accounts.
Monitor your kids' money
Track Finances and Activities
Bank of Mom provides features for recording individual transactions so your kids can see exactly where their money is going, and all of these records can be shared with your spouse or kids online via email so that everyone has access to the data.
What’s more, the developer has been good enough to also include tracking facilities for individual activities and time-based entries, including things like watching TV, playing video games, having friends over, going on trips, and so on.
Easily keep track of your kids’ spending through the medium of virtual bank accounts
Provides a sensible way of helping your kids learn about money and how to use it appropriately
Add as many accounts as you need for each of your children
Add interest to each account to factor in money deposited into savings accounts
Record individual transactions so your kids can see exactly where their money is going
Also includes time and activity tracking features for video games, parties, trips, TV, and so on
Share your records with your spouse online via email
I really like the idea behind this app but there have been a few reports of intermittent crashing; I haven’t personally encountered any issues like this but it is important to bear in mind before deciding to download it
Add extra details to each entry
Bank of Mom is a wonderfully executed iPhone and iPad app that, although not without its flaws as seen above, should hopefully help you achieve a slightly more consistent state of peace in your household!