An easy-to-use app to help your child learn to manage money
With Pennygem, children earn money by receiving regular allowance and rewards for tasks. They manage money in a simulated banking environment with chequing and savings accounts. Finally, children learn to budget and responsibly spend by shopping at the Pennygem online store. As a parent, you have complete control over your child's experience.
How It Works
1
Open an account in minutes
Open an account on the Web, iOS, or Android app. Only the parent's email address is required.
2
Customize account
Activate and customize features such as transaction limits and fees, savings rates, and many more.
3
Earn and save
Set up regular allowance and rewarded tasks. Your child can set up saving goals and see their progress towards them.
4
Financial education
Enroll your child into a variety of age-specific courses on our platform and reward them for successful completion.
5
Personalized online stores
Browse a variety of items in the Pennygem Store, and select the ones that you approve for your child.
6
Controlled spending
Approve or decline purchase requests in one click. The parent makes the final purchase.
Safe and Secure
Parental controls
Custom
settings
No real money involved
Personalized stores
-
Highly customizable accounts.
-
Only the parent's email address is required to register.
-
No actual money involved for children. All payments and charges are in virtual units.
-
Children only access the items that parents approve for their online stores.
-
Final purchases at the online store are made by the parents using their payment of choice.
Features
Support your children in learning to manage their finance with Pennygem's unique tools.​
​Help children learn to manage money
​
-
Create custom account settings
-
Transaction limits and fees​
-
Balance limits
-
Account fees
-
Interest rate
-
-
Set up regular allowance.
-
Set up regular charges.
-
Set up recurring and on-of rewarded tasks.
-
Approve task completion.
-
Enroll children in rewarded financial literacy courses.
Navigate children's spending​
​
-
Browse through many products available at Pennygem's store.
-
Access the unique statistics on item ratings and approvals by other parents.
-
Select the appropriate products to create a personalized store for your child.
-
Review and approve purchase requests at a click of a button.
-
Purchase items directly from the merchant's website using your preferred payment method.