Allowance tracker: Bomad 2.0.128

Allowance tracker: Bomad 2.0.128

Graeme Pyle  ❘ Freeware
iOS
out of 42 votes
Latest Version
2.0.128
Safe to install
EXCELLENT User Rating

Bomad, an abbreviation for Bank of Mom and Dad, is an innovative platform designed to educate children about financial management by allowing parents to operate a personalized banking system for their children.

The process is straightforward:

  • You establish a virtual bank account for your child using the parent application on your mobile device. The child can access this account through the child application on their iPad, phone, or other compatible device.
  • You can schedule regular allowances or input funds received from occasions like birthdays or tooth fairy visits. These funds are handed over to you, enriching your account but reflecting an increase in your child's balance within the app.
  • When your child wishes to make a purchase, you provide the necessary payment or cash, updating the app by deducting the respective amount.

Consequently, the account balance reflects the parental debt owed to the child, allowing them to grasp financial concepts through practical application.

Other notable features of Bomad include the ability for children to save towards specific goals, earn rewards for completing chores, and for older kids, manage expenses and request transfers to actual bank accounts enabling spending through debit cards.

Furthermore, the system ensures transparency with transaction notifications for children and detailed insights into their expenditures, fostering a conscientious understanding of money management.

This structured approach encourages responsible spending habits and cultivates a forward-thinking mindset in children, supported by parental guidance.

For more details regarding Bomad's Terms of Use and Privacy Policy:

  • End User License Agreement (EULA): EULA Terms
  • Privacy Policy: Privacy Policy

Overview

Allowance tracker: Bomad is a Freeware software in the category Business developed by Graeme Pyle.

The latest version of Allowance tracker: Bomad is 2.0.128, released on 04/03/2024. It was initially added to our database on 03/24/2024.

Allowance tracker: Bomad runs on the following operating systems: iOS.

Users of Allowance tracker: Bomad gave it a rating of 5 out of 5 stars.

Pros

  • User-friendly interface makes it easy for both parents and children to use
  • Encourages financial responsibility and budgeting skills in children
  • Allows for customization of chores, rewards, and allowance amounts
  • Offers the ability to set up automatic allowance payments on a recurring schedule
  • Provides detailed reports and insights into children's spending habits

Cons

  • Not available on all platforms, limiting accessibility for some users
  • Can be seen as costly compared to other allowance tracking apps on the market
  • Some users may find the interface a bit outdated compared to newer apps

FAQ

What is Bomad by Graeme Pyle?

Bomad is a mobile app developed by Graeme Pyle to help parents track and manage their children's allowances.

How can I download Bomad?

You can download Bomad from the App Store or Google Play Store.

How does Bomad help parents track allowances?

Bomad allows parents to set up tasks for their children, assign monetary values to each task, and track when tasks are completed and allowances are earned.

Can multiple children be added to the Bomad app?

Yes, Bomad allows parents to add multiple children and track allowances separately for each child.

Is Bomad a free app or does it require a purchase?

Bomad offers a free version with limited features, but a premium version with additional features is available for purchase.

Does Bomad have any reporting features for parents?

Yes, Bomad provides parents with reports on their children's earning and spending patterns to help in financial education and planning.

Is Bomad secure for storing financial information?

Bomad takes security seriously and uses encryption to protect all financial information stored in the app.

Can children see their allowance balances on Bomad?

Yes, children can have their own login to view their allowance balances and see the tasks assigned to them.

Are there any in-app rewards or incentives for children on Bomad?

Bomad offers parents the option to set up rewards or incentives within the app for children to earn in addition to their regular allowances.

Screenshots (Click to view larger)

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