Account Types

MoneyTrail uses several types of accounts to help you keep track of your child's money. When you create a MoneyTrail account, you will be able to choose from three plans.

No Allowance Plan: Choose this plan if you do not give your child an allowance or do not want it added automatically but would still like to keep track of his money and IOUs.

  1. Credit Account: Tracks all IOUs between parents and kids.

  2. Cash Account: Keeps track of how much cash your child has.

  3. Gift Card Account: List all of your gift cards.

  4. Check Account: List all of the uncashed birthday checks from Grandma so you don't forget that you have them.

  5. Make Your Own Account: Create an account to keep track of things your child is saving for, like an iPod or new cell phone!

Basic Allowance Plan: This plan allows for an automatic allowance payment to be virtually deposited into the credit account on a weekly or monthly schedule.

  1. Credit Account: Automatically adds allowances and tracks all IOUs between parents and kids.

  2. Cash Account: Keeps track of how much cash your child has.

  3. Gift Card Account: List all of your gift cards.

  4. Check Account: List all of the uncashed birthday checks from Grandma so you don't forget that you have them.

  5. Make Your Own Account: Create an account to keep track of things your child is saving for, like an iPod or new cell phone!

Save, Spend, Share Plan: In this plan, the credit account has been divided into three accounts - Save, Spend and Share. These represent credit between parents and kids. Allowances are automatically divided into those three accounts (you choose the amounts and frequency).

  1. Save Account: Tracks the amount your child is saving.

  2. Spend Account: Tracks the amount your child is able to spend within the guidelines of your family.

  3. Share Account: Tracks the amount your child will be sharing with a charity or religious organization of your choice.

  4. Cash Account: Tracks the amount of cash your child has.

  5. Gift Card Account: Lists all of your child's gift cards.

  6. Check Account: Lists all of the uncashed birthday checks from Grandma so you don't forget that you have them.

  7. Make Your Own Account: Create an account to keep track of the things your child is saving for, like an iPod or a new cell phone!

MoneyTrail’s variety of accounts can help you create a unique allowance and money system that works for your family.