Financial literacy is an important 21st century skill for children. Here are four recommended apps to teach children and teens the basics of money management – Kiran Balimane

FamPay
Platform: iOS, Android
Ages: 11-18 years
FamPay is a popular financial app in India. It offers a prepaid card (initiated by parents) to children to enable them to make cashless transactions securely. Designed to teach financial responsibility through real-world experiences, it allows children to track their spending, set savings goals, and manage budgets. Parents can monitor and control card usage, ensuring a safe learning environment. With its engaging interface and gamified approach, FamPay makes financial literacy interactive and enjoyable for children.

FYP
Platform: iOS, Android
Ages: 11-18 years
FYP is a digital banking app specially designed for India. It offers children/teens a personalized prepaid card that can be used for both online and offline transactions. The app provides financial education by enabling teens to understand budgeting, tracking expenses, and initiating the savings habit. Parents can load money into the FYP account of their children and set spending limits, teaching them financial discipline. The app’s user-friendly interface makes it easy for children and parents to sign up and navigate the world of digital finance.

Junio
Platform: iOS, Android
Ages: 10-18 years
Junio is a financial app that combines a smart card with user friendliness, enabling children to learn money management through practical experience. The Junio card allows users to make payments while the app tracks their spending, sets saving goals, and earn rewards. Parents can monitor transactions in real time. The app’s focus on gamification and rewards helps children understand the value of money and develop responsible spending habits.

YPay
Platform: iOS, Android
Ages: 11-18 years
YPay offers a prepaid card and several features such as expense tracking, savings goals, and real-time notifications, to teach financial literacy. Parents can oversee a child’s spending and set limits, ensuring that teens learn the importance of budgeting and saving. With its easy-to-use interface and focus on financial education, YPay is a good way to introduce children to digital banking and financial responsibility.