Math for Money - Pocket Money Tracker

Note: MathforMoney is not a financial services provider, therefore no money is transferred via the app and acts only as means to track what is owed and spent.

MathforMoney is a tool that incentivizes children to do math in order to unlock their pocket money. The purpose of the app is to get kids to earn while they learn, teaching them both the value of money and the importance of saving. Money habits are learned from as young as 7, so it is our responsibility to ensure our kids are developing positive ones that they will carry through to adulthood.

How Does It Work?

*Parents set a weekly pocket money amount and interest rate

*Children receive a series of math challenges which they need to complete before the end of the week to unlock their pocket money

*Parents can track their child’s progress to see where their strengths and weaknesses lie, as well as check their savings balances

*Parents will receive a notification from their child when they wish to withdraw some of their pocket money, which parents can then pay in the manner which is convenient for them.

Why Math, Not Chores?

It has been proven that good number sense equals good money sense. Studies by the OECD, The UK Money Advice Service, and Harvard Business School find students who have a strong foundation in mathematics perform better on financial literacy assessments, so we focus on developing basic math skills to help drive better financial decisions. Furthermore, this helps children gain confidence in applying their math competency to the real world.

We believe that rewarding for learning instead of paying for chores builds far healthier habits in children. Remunerating your child for contributing to the family develops an expectation rather than teaching your child basic responsibility.