BusyKid app teaches children how to be financially responsible
A local family says this app has been a lifesaver
GREEN BAY, Wis. (WBAY) - During COVID-19, many people were forced to take a closer look at their finances, even giving them a wake up call.
An app launched a little over a year ago, BusyKid, aims to help kids learn how to earn, save and spend money.
Using technology to keep your kids busy and active during the pandemic, is what helped Melanie Jorgensen and her family in many ways.
They say the app helped her 13-year-old son, Richard, learn the concept of money.
“We were trying to find a rewards system for Richard because he’s been diagnosed with autism since he’s been 2 and a half” his mother, Melanie Jorgensen says.
She says she downloaded the $19.99 a year app and signed her son up to complete those daily chores.
“I just wanted to start him off on just basic daily routines like brush your hair, get dressed, brush your teeth and take the dogs out” says Melanie.
Gregg Murset, the creator of BusyKid, says showing kids at an early age how to tie work and money together is important.
“You as a parent would give your kids chores to do around the house, they do the chores, they click them off, we keep track of all that stuff and then on Friday you’re going to get a message that says ‘hey it’s pay day’” says Murset.
Once complete, the money is transferred from the parents bank account into their kid’s BusyKid account, where they can put the money in three different areas.
“We divide the money into savings where they can buy fractional shares of stocks, sharing where they can give to charities, and spending where they can load money onto a card just like adults do” says Murset.
Richard says his parents helped him set up a plan of where he’ll put his money.
“I put 70% into my savings account, and 10% goes out to charities so while I’m earning money, I also give back to the community. And the rest 20% I spend on video games and other things” Richard says.
Richard’s savings through the app, actually helped his parents in a time of need.
“When the pandemic hit and we had to wait for his unemployment to come through, his savings actually helped us out” Melanie says.
Her family says they would recommend this app to any parent and any school-aged child.
“If I learn how to save now, it won’t have to be a problem in the future” says Richard.
CLICK HERE to learn more about the app.
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