Zift Advisory
PiggyBot is a virtual allowance app that allows parents to dole out allowances and kids to make decisions and learn how to control their money.
PiggyBot is only available for download in the App Store and is rated for users of all ages. This app does not feature any in-app purchases or advertisements. This app is safe for kids.
What is PiggyBot?
PiggyBot is a virtual allowance app that allows parents to dole out allowances and kids to make decisions and learn how to control their money.
PiggyBot is only available for download in the App Store and is rated for users of all ages. This app does not feature any in-app purchases or advertisements.
PiggyBot is a collaborative app for parents and children that replaces actual money with virtual currency in a piggy bank. With the PiggyBot, users can track allowance amounts, how much money was spent, and how much is left. Kids can tell PiggyBot what they’re saving up for (such as a new toy or game console), and the app will keep a record of their progress.
It can even predict how long it will take for kids to reach their monetary goal based on their allowance and spending habits. Parents can take advantage of the app to hold their children accountable for IOUs or any unwise spending. PiggyBot teaches young kids how to develop money habits they’ll hopefully keep with them as they grow into adults.
The app comes from Kasasa, a financial servicing company that has developed other apps, such as Money Island and the Kasasa App. PiggyBot is a financial literacy app that has earned critical acclaim and was the #1 app for kids in the App Store. It has a user average rating of 4 out of 5 stars and many parents praise it. Some common issues that users report include glitches and lags.
Is PiggyBot safe for my kids?
PiggyBot is safe for kids and can work well for elementary aged children and older.
PiggyBot gives parents the option to allocate their children’s money. There are three different ways to use the allowance: save it, spend it, or share it with someone else. The app uses positive reinforcement to encourage kids to save up, deeming them a “Goal Getter” once they achieve their saving objective.
Kids are welcome to snap pictures of what they want to save up for, and the app keeps a record of past purchases so children can learn the differences between wants and needs. PiggyBot works best if both parents and their child have it downloaded to their iOS devices.
PiggyBot had over 50,000 downloads in its first three weeks and was featured in USA Today. It has been featured in 19 iTunes “Best Of” lists and is considered a fantastic way for parents to open up the conversation about money with their children.
Many parents use to track their kids’ chores and the progression of what they’ve done to earn cash. The app doesn’t sync up to actual bank accounts, so personal info stays safe. Plus parents don’t have to worry about their children losing actual dollar bills; no more wasted or forgotten money! Apps that are similar to PiggyBot include My Piggy Bank Tracker and Kidsbank, both on the Google Play Store.
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