ORLANDO, Fla. – The 21st century version of earning an allowance for chores around the house has evolved from a checklist on the fridge to a chore app complete with a debit card to calculate your work, along with how much money you’ve earned, saved and spent.
The app is called Busy Kid, the idea of financial planner and father of six Gregg Murset.
“Honest truth, all five of them that have left the nest had more than $10,000 saved up,” Murset told News 6.
When we asked him what inspired the Busy Kid venture, Murset smiled and said, ”I have six kids. I wanted them out of the house.”
The Busy Kid selling point is “allowance simplified,“ something Sharron Rodriguez, of Orange County, has developed for the last seven months with her daughters, 9-year-old Layla and 6-year-old Melaya.
“Overall, I think it is a great starter to teach kids about managing and making money,” Rodriguez said. “However often you want that child to do that chore, you can assign it.”
Layla had already earned well over $100 when we met with the family in October.
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Rodriguez said she just “Googled it” as she searched for apps that tracked allowance and chores.
She told News 6 the whole process has been a success because the girls understand that the more they save, the more they have to divide for savings, investments and things they want.
“Every time I pay Layla her allowance, 40% generated is to spend, 50% automatically goes into her savings account,” she said.
Murset told News 6 after families develop a routine “it’s just a matter of practice.”
“They save and invest a little bit, they share a little bit and they spend the rest,” he said. “They use a card or their phone. This is how the world works.”
The spp is free for the first 30 days and costs about $4 a month -- billed annually -- after that.
For more information, go here.
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