PennyPod

PennyPod is a virtual ledger where kids make deposits (to the Bank of Mom & Dad) and the parents set the interest rate, even a generous one if parents want their kids to see the power of compounding sooner. Parents are freed from managing spreadsheets or pen and paper alternatives and kids get to watch their lemonade stand money grow. The app runs automatic interest calculations on a daily, weekly, or monthly schedule. Kid Mode hides the admin stuff and shows kids a growth garden and a chart of how their money has grown. Time Machine projects today's balance to any future age, so the kid can see what $10/month deposited becomes at 18 (or 65 if you want to hear them howl). It's a teaching tool with the parent holding the cash as an alternative to setting up actual bank accounts. Completely free for one kid with a lifetime $6.99 family upgrade for multiple kids.