15 Greatest Cash Apps For Teenagers in 2023

Do you need to train your teen find out how to handle cash? In that case, the perfect cash apps for teenagers will help.

Costs and options differ for every possibility, however all cash apps intention that will help you and your little one higher handle their cash.

We discovered the preferred cash apps for teenagers, evaluated what they provide and decided how they will help your teen enhance their funds.

Greatest Investing Apps for Teenagers

There are some apps for teenagers which can be targeted on investing. Though every app could have a number of options, we’re sharing how the investing portion of the app works.

1. Acorns Early

Acorns early

Acorns is a cellular banking app that prices $3 per thirty days for a private account and $5 per thirty days for a household account. 

Along with your Acorns account, you get your personal private banking and spending account. You additionally get a financial savings account and an funding account.

If you improve to the Household account, you’ll be able to open Uniform Transfers to Minor Act/Uniform Presents to Minor Act (UTMA/UGMA) funding accounts for every of your youngsters at no additional value.

All funds invested with Acorns go into one in all 5 ETF portfolios. These portfolios have various ranges of threat, starting from conservative to aggressive.

Funds deposited into children’ accounts mechanically go into essentially the most aggressive Acorns ETF (100% shares) for optimum development potential. 

The minimal funding is simply $5 per thirty days. As a mother or father, you’ll be able to switch the account to your little one once they attain your state’s authorized age. 

Worth: $5 per thirty days

Professionals: Reasonably priced month-to-month contributions, a number of children’ accounts for one value 

Cons: Month-to-month price, no tax loss harvesting

Study extra: Acorns Evaluation: Is Acorns Price It To Make investments Your Spare Change?

2. EarlyBird

EarlyBird is a UGMA account that helps your little one make investments for faculty or another future bills. 

Like Acorns, EarlyBird has 5 ETF portfolio funds you’ll be able to select from, from conservative to aggressive. 

Not like Acorns, EarlyBird lets you select the combo of portfolios you’ll be able to spend money on in your little one. You’ll pay $2.95 per thirty days to take a position if you happen to open an account for only one little one.

If you happen to add extra youngsters later, the value goes as much as $4.95 per thirty days. One other good factor in regards to the EarlyBird account is that you simply get a customized hyperlink you’ll be able to share with others.

Ship the hyperlink to grandparents, uncles, aunts, mates and extra to allow them to assist construct your little one’s funding account. 

Worth: $2.95 or $4.95 per thirty days

Professionals: Select from 5 completely different funding portfolios, share the hyperlink for others to contribute 

Cons: No different companies are supplied

3. Constancy Youth Account

Well-liked brokerage agency Constancy affords a Youth account for teenagers to start out investing. The account has no minimums, no month-to-month charges and isn’t a custodial account. 

The Constancy Youth account permits your little one to spend money on most NMS securities, together with fractional shares of shares, Constancy mutual funds and extra.

Take into account that this account belongs solely to your minor little one. As such, you’ll have restricted parental management, however you’ll be capable of view actions and statements.

You might be listed as an Occasion and because the trusted contact on the account. Nonetheless, you received’t have any joint possession or different authoritative designations.

Worth: Free

Professionals: Make investments with no buying and selling charges, spending/financial savings accounts included, fractional shares obtainable

Cons: Mother and father will need to have a Constancy account with a purpose to open a Youth account

4. Greenlight App

Greenlight is an app that helps children be taught to earn, save, spend and make investments. The app affords three plans.

These embody:

Nonetheless, solely the Max and Infinity plans enable children to take a position. You received’t pay any buying and selling charges with Greenlight.

Moreover, your little one can spend money on fractional shares of shares and mutual funds with as little as $1. Not like Constancy’s Youth account, the Greenlight funding account requires parental approval for each tried commerce.

Because the mother or father and proprietor of the account, it’s also possible to assist outline a development technique in your little one and create the chance portfolio that works greatest in your little one and household. 

Though this app is priced larger than different funding apps, you might discover the extra options value the price.

Worth: $9.98 to $14.98 per thirty days

Professionals: Earn, spend, save and provides options included

Cons: Greater priced than different obtainable funding apps for teenagers

5. UNest

UNest home page

UNest gives a UTMA/UGMA account that holds funds that can be utilized for faculty, a down fee for a home or another financial savings purpose you’ve in your little one.

The app permits for funding in as much as 9 completely different portfolios, from conservative to aggressive. You may even spend money on some cryptocurrencies in your little one, though you might get charged a price from the clearing home (APEX) to take action.

As with different apps talked about right here, UNest does enable household and mates so as to add to your little one’s funding by way of a customized hyperlink.

You may earn further funding funds in your little one’s account once you use UNest Rewards and reap the benefits of the particular affords inside the app. 

Worth: $4.99 per thirty days

Professionals: Payment consists of limitless little one accounts, expansive alternative of portfolios to select from

Cons: Minimal contribution requirement of $25 per thirty days

6. Webull

Though Webull is barely obtainable for teenagers ages 18 and 19, we thought it was value mentioning for 2 causes. This app affords zero commissions and a useful inventory simulator device.

If you wish to encourage your teen to go completely impartial with their investing or get some apply through the use of a inventory simulator, you would possibly desire to make use of Webull.

Use Webull to commerce shares, ETFs, crypto and extra. Higher but, as of July 2021, Webull permits for fractional buying and selling as nicely. 

Worth: Free

Professionals: Inventory simulator device obtainable

Cons: Just for teenagers ages 18 and 19

Study extra: Webull Evaluation: Is This Investing App Price It?

Greatest Budgeting Apps for Teenagers

If you happen to simply need your teenagers to be taught the fundamentals of budgeting, there are apps on the market that may assist. These are the highest budgeting apps for teenagers.

7. Present

Present offers children the possibility to learn to earn, spend and save their cash. The account comes with a debit card, financial savings pods and instruments to assist teenagers learn to handle cash nicely.

Parental controls enable for real-time exercise notifications, service provider blocking and spending limits. 

The debit card from Present has many security options, akin to EMV chips, privateness controls and extra. Mother and father and teenagers alike could be assured that their cash is safe with this app.

Worth: $36 per yr

Professionals: Debit card buy roundups, enticing mother or father management options

Cons: Restricted funding options

8. Copper Card

Copper is a banking app that gives as much as 5 teen or little one accounts when mother and father open an account. Studying instruments, together with budgeting, can be found.

As a mother or father, you’ll be able to ship cash immediately to your little one’s account or automate allowance. Teenagers can even arrange direct deposit to their Copper account.

Teenagers can reap the benefits of monetary literacy classes, earn bonus money and extra.

Worth: No month-to-month charges 

Professionals: Investing accounts for teenagers ages six and up

Cons: Card reload charges and on the spot switch charges from some accounts

Study extra: Copper Banking Evaluation: Is This Financial institution Account for Teenagers Price It?

9. FamZoo

FamZoo is a family-friendly app that features incomes, saving and spending choices for teenagers and children. 

Cash earned is positioned in an account that your teen accesses by way of a pay as you go spending card. Teenagers can even set targets for saving and giving. Plus, they’ll place cash in a financial savings pod. 

Chores assigned to a couple of little one are “stealable,” instructing children that the early chicken will get the worm. Fundamental price range sheets can be found with this app.

Worth: $2.50 per thirty days to $5.99 per thirty days

Professionals: Stealable chores, price range sheets, household mortgage possibility and chore penalty choices

Cons: No funding function

Study extra: FamZoo Evaluation: Is This Pay as you go Debit Card Price It?

10. Constancy Youth Account

Fidelity Youth home page

Though the Constancy Youth account is supposed primarily for investing, the app does have a financial savings account to carry funds in.

As well as, the app affords a bunch of economic literacy instruments that may assist your teen be taught to price range, handle debt and extra. 

Get this app if you need your teen to be taught budgeting and different monetary suggestions whereas focusing closely on investing. 

Worth: Free with a mother or father account

Professionals: Financial savings, investing and monetary literacy instruments

Cons: No spending card

11. GoHenry

GoHenry is a cash app that helps mother and father train children to earn cash and extra. As a mother or father, you may give your children common allowances via the app or assign chores they’ll receives a commission for upon completion.

You can too give one-off transfers to your child or teen at any time. Parental controls embody real-time exercise notifications and card lock/unlock capabilities.

Spending, giving and sending cash to mates are additionally included options with this app. 

Worth: $4.99 per thirty days

Professionals: Age-appropriate studying movies and quizzes

Cons: No investing possibility

Study extra: GoHenry Card Evaluation: Is It a Good Debit Card Choice for Teenagers?

12. Greenlight App

Greenlight affords a complete app that may assist children and teenagers create a price range that lets them earn, save, spend and provides as they want. 

For simply $4.99 per thirty days, your teen can learn to earn and handle cash, full with parental controls that may set spending limits, lock/unlock the included debit card and extra. 

Improve to one of many two higher-priced plans to transcend budgeting and study investing and extra.

Worth: $4.99 per thirty days as much as $14.98 per thirty days

Professionals: Financial savings bonuses and complete instruments are included in all plans

Cons: Improve to a better plan to have investing

Study extra: Greenlight Evaluation: Is This a Good Debit Card for Youngsters?

13. Step

Step is a Visa card that permits your children to make use of it to spend no matter cash is saved of their Step account. 

Since they’ll solely spend as much as the sum of money within the account, Step helps your little one be taught to price range. 

Step additionally experiences all funds to the cardboard as on-time credit score funds, serving to youngsters of all ages start to construct credit score. 

Worth: Free

Professionals: Construct credit score, create and fund financial savings targets, buy roundups

Cons: No investing possibility

Greatest Chore Apps for Teenagers

For fogeys searching for an app that may assist with teen chore administration, these choices are value trying out.

14. Homey

Homey is a chore app designed to assist observe chores and reward children for finishing duties. Though the app doesn’t have a spending card, it does enable you to observe cash earned and create/obtain financial savings targets.

Fundamental Homey permits for 3 accounts, whereas Premium Homey permits for limitless accounts. 

Worth: Free for Fundamental, $4.99 per thirty days or $49.99 yearly for Premium

Professionals: Limitless financial savings jars and chore approval with a Premium account

Cons: Restricted options with a Fundamental account

15. OurHome

OurHome home page

OurHome is a chore app that rewards teenagers and children on a factors foundation. You, because the mother or father, assign chores and reward children with factors for every accomplished chore.

The app lets you add rewards to your account, together with the variety of factors wanted to earn a reward. Youngsters can then use their app to assert a reward. 

Worth: Free

Professionals: Factors-based system permits for a wide range of rewards

Cons: No banking function


When evaluating completely different cash apps for teenagers, there have been key components we analyzed to find out the perfect choices within the area. In-depth analysis was carried out to determine the highest opponents that assist teenagers with their funds.

We targeted on the next standards:

  • Apple App Retailer score of 4.0 or larger
  • Status amongst trade leaders
  • Ease of use
  • Low or no charges

We selected this technique to make sure we’re doing our due diligence as we decided the perfect apps like OfferUp.

The way to Select the Greatest Finance App

Selecting the perfect finance app in your teen is just a matter of figuring out which app most closely fits your wants and price range.

However how do you try this? Researching and evaluating choices is necessary. Make a listing of every app, what they provide, what they value and what evaluations say on respected websites like Trustpilot.

Then select the app(s) that greatest meet your standards.

Monetary Planning for Teenagers and Adults

Good monetary planning and administration can usually appear elusive, however it’s a necessity if you wish to have a peaceable life from a financial standpoint.

Listed here are some fast suggestions for each teenagers and adults to handle their cash in a manner that may put together them for a safe monetary future. 

1. Know Your Targets

Figuring out your monetary targets is important to good monetary planning. Take a while to sit down down and make a listing of quick (lower than one yr), medium (one to 5 years) and long-term (over 5 years) monetary targets. 

2. Uncover Worth-Primarily based Spending

Worth-based spending is a budgeting device that may work wonders in the case of cash administration. 

By merely taking the time to weigh buy choices based mostly on how a lot time it takes to earn cash for it and within the context of deviating from saving for different targets, you’ll be able to determine whether or not a purchase order will convey worth to your life or not.

3. Discover a Finances That Works for You

Each individual’s price range will work in another way. It is because everybody has completely different bills and completely different priorities.

Your job is to create a price range that works in your state of affairs and hold tweaking it as wanted that will help you attain your targets. 

4. Set up an Emergency Fund

Having an emergency fund will prevent from pointless stress. An emergency fund helps make cash much less of an element in the case of necessary choices.

Intention to save lots of three to 6 months’ value of bills in your emergency fund. Add to it as you’ll be able to whereas managing your price range.

5. Educate Your self on Investing

Whether or not you’re simply starting to take a position or are a professional, educating your self on investing is necessary. Use the recommendation of specialists akin to Jim Collins and Warren Buffett to develop your data on the whats, whens and hows of investing. 

6. Make investments for Retirement and Non-Retirement

If you determine to take a position, using each retirement and non-retirement investments is crucial. That is particularly necessary if you happen to’re beneath 50. If you happen to begin investing or saving as a teen, you’ll have funds to assist pay for varsity, vehicles, and extra.

If you happen to save $100 a month for 18 years, your ending stability may very well be $35,400. If you happen to save $100 a month for 9 years, your ending stability may very well be about $13,900

7. Be Frugal, Not Low cost

All the time keep in mind that “frugal” and “low cost” are two various things. By no means sacrifice your self, your relationships or your happiness for the sake of cash. 

Worth individuals above cash and issues. Make it a precedence to spend money on your self, and at all times keep in mind that time is the one factor you’ll be able to by no means purchase again. 


The perfect cash apps for teenagers will assist them be taught to search out the perfect stability between what they earn, save, spend, make investments and donate.

Which app is greatest in your teen will differ from which one is greatest for another person’s. Nonetheless, with the best instruments, you’ll be able to assist your teen uncover what good cash administration seems to be like for his or her state of affairs.

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