We are currently living in the information age. By using devices such as smartphones, we can access the Internet along with other resources so as to get and manage information. Applications are popular digital tools that we use for management of this data. We can utilize them to handle our finances as well. They can be connected to our bank accounts and provide us with a way to interact with our money directly from the smartphone or tablet. There are some financial applications that are designed for teens. They have themes that are attractive to them and features which can help this demographic to handle their finances. Read on to discover some of the top apps for managing your finances for teenagers.
1. Toshl Finance
This is essentially a digital checkbook. By using Toshl Finance, teens can enter their debit card balances, record expenses and set budgets every month. The application allows you to create a user account. Having done so, it logs and categorizes the information which is saved inside. By using Toshl Finance, a teen can learn how to be financially responsible the 21st century way. This application is available for both Android and iOS.
Manilla is developed to be a digital file folder. In addition to that, this application acts as a bill pay service. Not only does it track spending by allowing a teen to record their expenses, Manilla also facilitates the payment of bills. The application is easy to understand and operates efficiently. A teen can customize the application to fit their bank account and nature of spending. They can also get alerts whenever upcoming bills are due or outstanding ones require attention. Manilla is available for iOS.
The objective of BillGuard is to help you to create more transparency in your financial matters. The application allows you to enter details about your day to day expenses. In addition to that, it provides an opportunity to enter hidden charges such as membership costs of prepaid debit cards for teens, monthly and auto-renewal fees. In doing so, BillGuard provides you with a clear picture of your financial situation. This application is versatile and detailed. It is also available for the Android operating system.
Specially designed for teens, this application helps you to track your money. The iAllowance application provides features where you can enter details about your day to day expenses. You can also enter data about your savings patterns, bills and any extra charges that you may have. An interesting feature of iAllowance is that it can create a joint platform for parents and their teens to handle the money together. This provides an opportunity for practical money management advice to be shared. The iAllowance application is available for iOS.
5. P2K Money
This is a specialized application that is developed to assist teens in handling their day to day finances. P2K Money is powerful and allows them to document their finances on a transactional basis. The application allows them to create accounts for savings, allowances, bills and other purposes as well. An interesting feature of this application is that it has a category that allows a teen to earn money by performing household chores.
An application for managing your money is a time-saving and effective way to learn and bolster financial management skills. There is a variety of apps that are designed to help teens keep track of their money. Some of the most effective ones are indicated above.