Helping your children learn how to save, spend, create goals and donate is an important part of their financial education and readies them for the future.
And with the advent of apps like Mazoola this is easier than ever.
Mazoola is a virtual debit card for kids, managed by parents, and, most importantly, is the only independently certified Children’s Online Privacy Protection Act or COPPA mobile wallet.
Why does this matter, “because your child’s privacy matters.” The app never collects or stores, nor shares or sells a child’s personal information. This protects both the app user and the merchant or retailer.
Let’s see what things look like on the parent side of the Mazoola app. To get started, a parent creates a family account and adds a virtual and secure debit card for each of their children.
Then they fund the accounts and set preferences such as flexible and individual spending controls, recurring allowances, educational content, and pick suitable charities or faith-based donations.
A parent always has the ability to monitor and manage how and where monies are being spent.
You can even assign and track chores and what rewards they will earn by completing them. The auto allowance feature helps establish and teach financial responsibility and security.
All of this adds up to help you as a parent easily track how much money your kids have earned and help them save for what matters most.
Now, here’s what your child will see when they fire up the app. They will be able to see their up-to-date balance, seeing exactly how much they have on hand at any given moment. They also have a history of where they spent their money.
They can set their own specific savings goals, allowing them to take some control and initiative of their finances. They can also manage their chores.
The Mazoola app includes the ability to shop online and in-store at appropriate retailers approved by parents.
Mazoola offers a streamlined method to add their debit card to ApplePay or GooglePay wallets. The child-friendly virtual wallet is truly multi-functional and also allows them to send payments to family and friends.
Powered by privacy, Mazoola offers all the capabilities of a mobile wallet and money management app a child needs, without compromising the safety and privacy that families deserve. Mazoola offers a platform for financial growth and responsibility and is truly a first. It’s the only mobile wallet a family can trust.
Download the app today by searching for “Mazoola” in the Google Play or App Store.