Allowance

“Mom, you owe me allowance!” How often have you heard that? And…when your child wanted his allowance, did you know how much you owed him or did you have to pull out the calendar and try to remember when you last paid him?

MoneyTrail can keep you organized. In it's simplest form, you can use MoneyTrail to record when you have paid allowance. No more flipping through calendars!

In our Basic Allowance style and our Save, Spend, Share style, MoneyTrail will automatically add the allowance amount to your child's MoneyTrail account. You simply set up the amount of allowance and the interval of payments and Moneytrail handles the rest. Every week (or month) MoneyTrail will automatically add the allowance amount to your child’s MoneyTrail account. Remember, MoneyTrail is a virtual system. We are not using your real money, just keeping track of it for you.

MoneyTrail now has several ways of organizing allowance payments:

  • Basic Allowance: In the Basic Allowance style, an automated allowance payment is virtually deposited in one lump sum into your child's "Credit with the Bank of Mom and Dad" account. You decide on the amount of the allowance payment and choose a weekly or monthly frequency.

  • Save, Spend, Share: In the Save, Spend, Share allowance style, each allowance payment is automatically divided into three accounts --- the Save Account, the Spend Account and the Share Account. You determine the amount for each and choose a weekly or monthly frequency. See our Save, Spend, Share page for more information.

  • No Allowance: This style is for families who do not pay allowance or who do not want the allowance entered automatically but would still like to keep track of their child's money and IOUs.

Let MoneyTrail’s allowance system save you time and alleviate the stress of trying to remember the allowance details.