Personal finance apps for teens and young adults

Teens and young adults have grown accustom to relying on technology for a variety of lifestyle aspects. From streaming music to sharing photos with friends, there’s an app out there for almost everything. With phones and devices always within reach, they have become supplemental teachers and enforcers of valuable life lessons, such as money management.

Listed below are multiple recommended money management, financial literacy and budgeting apps geared toward teens and young adults:

  1. Savings Spree
    Winner of the Parents’ Choice Gold Award, this app designed as a game introduces lifestyle choices that add up to big savings or big expenses. The game show format tests players’ financial knowledge while building up money saving skills.
  1. P2K Money
    As an education tool for parents, an overview of budgeting, spending, saving and wish list items are available. By working together, parents can encourage their teens to take the fast track to financial responsibility and independence.
  1. SmartyPig
    This progress-tracking app lets users view the status of each goal, view friends’ goals, access transaction history and transfer additional money directly from their bank account – right from their phone.
  1. iAllowance
    Manage your child’s finances while teaching him or her about financial literacy. This app allows for automated allowance payments, chore reminders, reward tracking, parental controls and so much more.

With the help of digital applications and games, it’s never been easier to start learning money management skills. So whether you have a young saver or a frugal teenager, during the month of April we are matching the opening deposit of any MoneyWise Primary Share account up to $10!* 

 

Editor’s note: Segments of this article were taken from businessinsider.com and msgen.com. TruStone Financial does not endorse these companies or applications.