* Allowance tracker
* Syncs across all devices (Android, Mac, and Web)
* Unlimited accounts for each child
* 4 different account types - Cash, Savings, Loans, Credit
* Recurring deposits and Withdrawals on any schedule
* Transfers between accounts
* Configurable currency settings
* Configurable interest amounts for each account
Family Penny allows parents to act as their family's bank. They can create an unlimited number of accounts for their children such as Checking, Savings, Loans and Credit accounts. Then parents and kids can create one time and recurring transactions which represent the financial interactions between family members. The easiest example would be a recurring weekly allowance, however, Family Penny can be used to track everything from College Savings to a Clothing Allowance.
Having a system to seamlessly manage the financial transactions between you and your kids is not only a major stress reliever, but also helps to educate your children about how finances work in the real world.
Family Penny is the best allowance tracker in the market and nicely separates allowance from chores which is the method recommended by most financial experts. If you have been searching for the best allowance app, allowance manager or allowance tracker, you just found it.