How you Can Start Tracking your Teen's Allowance

How you Can Start Tracking your Teen's Allowance

Over the past few years, prepaid cards have seen growth in popularity, particularly due to their flexibility of use. Individuals and families use them as a budgeting tool for groceries, dining out, saving for summer vacations, and even allowances. Yes, the Akimbo Prepaid Mastercard® can serve a purpose as an allowance tracker. Allow your children to save what you give them in one convenient and secure location (no more desk drawers or piggy banks) and spend their allowance easily and digitally. And, you can keep tabs on where and how your little ones are spending the money you’ve given to them.

Little Jimmy worked hard doing his chores around the house this week. He pulled those pesky weeds, made his bed each morning and unloaded the dishwasher. Now it’s time for Jimmy’s parents to pay his allowance. Thankfully, Jimmy’s parents gave him an Akimbo Card. Paying Jimmy is simple, and being able to track the amount he has on his card and what he’s spending it on is easy.

Here’s how it can work:

  1. Jimmy completes his chores for the week. Yay!
  2. His parents pull out their phone, tap to open the Akimbo app, and load $10 to his Akimbo Card.
  3. Jimmy gets his funds instantly and uses his Akimbo Card to buy a ticket to the movies just an hour later.
  4. Jimmy (and both of his parents) get text updates when he purchases the ticket. This gives all parties full visibility into Jimmy’s spending.

It’s simple and seamless, and it makes paying, managing and tracking allowances easy every step of the way. The Akimbo Card even lets parents automate their children’s allowance payments, so if Jimmy is reliable in doing his chores, they can set up recurring loads of $10 every Friday. That means mom and dad don’t have to remember to pay Jimmy every week, and Jimmy isn’t left asking where his allowance money is – so everyone’s a happy camper.

Do you think the Akimbo Card could work for your family? 

Give it a try today.