Busykid teaching kids how to earn and save money

CHATTANOOGA, Tennessee (WDEF)-Getting kids to do chores around the house can be tough. BusyKid is a financial app created by financial expert Gregg Murset. His app allows kids to see on their devices what money they have earned from doing jobs around the house.

“Help her remember that she’s got chores to do around the house. And when you do the chores what do you get? Money! She’s excited to get paid to do her chores.”

“You teach kids by giving them chores to do. Let them learn how to earn their money.”

The Rodriguez family has been using the app. She gets money from different jobs and it gets divided up into three categories.: spending, saving, and giving.

“I get to share the money with the people who need it. Before busy kids there will be times she would say hey can I have this. I would say you know that cost $20. Maybe we should see if someone else has it cheaper. Now that she’s got to spend real money she’ll do that. She’ll say wait how much is that and we checked Amazon, Target, Walmart?”

The app also links up to a credit card so kids get the experience of handling money as most adults do, cashless.

“The world is changed. We are a technology-driven society. We have to teach kids about what I call invisible money. That’s what it is. It’s not money you stick in your pocket anymore it’s just a little number on the screen.”

“We as adults are transferring money electronically and hardly ever see a dollar bill anymore, checks anymore. That’s just a way of life for all of us. So to be able to introduce that to her to make her feel comfortable and making purchases and thinking about how much something costs it’s just truly valuable.”

Categories: Education, Local News, Technology