Best Apple App Budget Planner for Teenagers: A Comprehensive Review

As a parent, it's essential to teach your teenager about financial literacy and budgeting skills to prepare them for adulthood. With so many apps available on the market, finding the right one can be overwhelming. In this review, we'll explore the best apple app budget planner for teenagers that offers features like savings, investments, and spending tracking.

Greenlight: A Simple and Secure Option

Greenlight is a simple prepaid debit card and app designed specifically for teens, with few fees and budgeting features to help young adults practice money management. The app has no minimum age requirement, making it an excellent choice for teenagers who want to learn about personal finance.

Greenlight offers three plans: Core, Max, and Infinity. The Core plan costs $4.99 per month and includes all parental controls, chores, 1.00% APY on savings, and limited investing options. The Max plan is priced at $9.99 per month and offers additional features like 2.00% APY on savings, 1% cash back, and more investing options.

The Infinity plan is the most comprehensive option, costing $14.98 per month and offering 5.00% APY on savings, as well as paying interest on savings. All plans support up to five kids, making it an excellent choice for families with multiple children.

Copper: A Comprehensive Bank Account and Investing App

Copper is a feature-rich money management platform that offers a prepaid debit card, built-in allowance and chore tracking, savings goal-setting, and peer-to-peer (P2P) transfers between other Copper members. The app is designed for kids and teens to manage their money while giving parents full control and visibility of the account.

Copper offers two plans: the basic plan starts at $4.95 per month, which includes all the above features. For a higher monthly fee, Copper users can invest in low-cost exchange-traded funds (ETFs) with asset allocation determined by a risk assessment questionnaire.

When choosing a budget planner app for your teenager, consider the following key features:

* Prepaid debit card: Allows teens to spend money responsibly

* Budgeting tools: Helps teens track their spending and set financial goals

* Investing options: Provides an opportunity for teens to earn interest on their savings

* Parental controls: Gives parents full control and visibility of the account

* Chore tracking: Encourages responsibility by allowing teens to complete tasks to earn allowance

In conclusion, Greenlight and Copper are two excellent apple app budget planners for teenagers that offer comprehensive features like savings, investments, and spending tracking. Both apps provide a secure and user-friendly experience for kids and teens, while giving parents full control and visibility of the account.

When choosing between these two options, consider your teenager's financial goals and needs. If you're looking for a simple and secure option with few fees, Greenlight may be the best choice. If you want a more comprehensive bank account and investing app with additional features like P2P transfers and ETFs, Copper may be the way to go.

By teaching your teenager about budgeting and financial literacy using these apps, you'll set them up for long-term financial success and independence.

Best apple app budget planner for teenagers