AllowanceKit

AllowanceKit

Pocket Money for Families

1 ratings
1 review
$2.99 Free
In-App Purchases

Price history


Details

  • Released
  • Updated
  • March 26, 2026
  • May 11, 2026

Features

AllowanceKit screenshot #1 for iPhone
AllowanceKit screenshot #2 for iPhone
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AllowanceKit screenshot #6 for iPhone
AllowanceKit screenshot #7 for iPhone
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ipad
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About

This app helps families teach children about managing money through a virtual allowance system. Set up automatic deposits, customize spending and saving buckets, and let kids track their balances on their own devices. It's a digital ledger for teaching financial literacy without real bank accounts.

Virtual allowance tracking
Automatic deposit scheduling
Customizable spending/saving buckets
Kid's view with balances
iCloud syncing across devices
No bank or card connections
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What's New in AllowanceKit

2026.5.1

May 11, 2026

• Split transactions: Add money or log spend across multiple buckets at once • Quick actions: Long-press the app icon to quickly add money or log spend • Feedback prompt to help us improve • Family-friendly language updates throughout the app

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In-App Purchases

$4.99

AllowanceKit Premium

Unlimited kids, buckets, goals & more. One-time.

User reviews

Doesn’t Automatically Deposit

This App claims it makes automatic deposits, but it does not. The website has a FAQ which confirms they know they are lying in app description and on front page of their site.

Developer is on Reddit downvoting against this, claiming it’s an “education tool only” (not mentioned) and they have unique interpretation of what “deposits automatically” means.
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Response from developer

Thank you for your feedback. We understand the confusion. AllowanceKit is a tracking tool, not a bank. When we say "deposits automatically," we mean the app automatically credits your child's virtual balance on schedule. No real money moves through the app. This is stated across our website: - Security page: "AllowanceKit tracks virtual allowance balances. No bank accounts, credit cards, or real money flows through the app." - Support FAQ: "AllowanceKit is a tracking tool, not a bank or payment service. It keeps a virtual ledger of how much your child has earned and spent. The actual money stays with you." - Home page features section: Describes it as a way to "teach your kids the basics of budgeting without a single lecture." We've since updated our homepage to make the virtual tracking nature clearer upfront. We apologize if our original wording was misleading — that wasn't our intent.

Developer apps

FAQ

How does AllowanceKit work?

AllowanceKit acts as a virtual ledger to track allowances. You set up recurring deposits and customize how money is split into 'Save,' 'Spend,' and 'Give' buckets for your child. It simplifies teaching financial concepts without needing real bank accounts.

Is AllowanceKit secure?

Yes, AllowanceKit prioritizes privacy. All data is stored locally on your device and within your personal iCloud account. The developer explicitly states there are no servers, analytics, ads, or tracking, meaning they cannot access your data.

What are the differences between the free and premium versions of AllowanceKit?

The free version allows for one child and up to three custom buckets, offering all core features. The premium version, a one-time purchase of $4.99, unlocks unlimited children, unlimited buckets, savings goals, child device locking, and the ability to manage negative balances.

Does AllowanceKit have ads?

No, AllowanceKit is ad-free. The app's privacy policy confirms that there are no advertisements integrated into the application.

What devices does AllowanceKit support?

AllowanceKit is available for iPhone and iPad devices. It utilizes iCloud to sync data seamlessly across all your Apple devices.

How often is AllowanceKit updated?

AllowanceKit was last updated on May 11, 2026, with version 2026.5.1. This indicates a recent update, suggesting active development and maintenance.

What is the age rating for AllowanceKit?

AllowanceKit has an age rating of 4+. This makes it suitable for young children learning basic financial concepts with parental guidance.

Can AllowanceKit connect to real bank accounts?

No, AllowanceKit is strictly a virtual tracking tool and does not connect to any real bank accounts or process real money. It functions solely as a digital ledger to help you manage and teach about allowances.