A Digital Solution for Pocket Money: SquareOne App

Kia ora, fellow educators and parents! Today's blog post takes a slight detour from our usual content to introduce a game-changer for teachers who are also parents, especially those with younger children. Meet SquareOne, a Kiwi-created app designed to revolutionise the way we manage pocket money.

As a teacher and a parent preparing for an upcoming family trip to Australia, I found myself on a quest to instil financial responsibility in my 12 and 14-year-olds. The challenge was to discover a digital tool that not only facilitated money management, but also made the process engaging and educational.

SquareOne emerged as the answer to my quest. This New Zealand-developed app allows parents to set chores and allocate corresponding amounts to their children. The beauty lies in its simplicity – kids submit completed chores, and parents approve payments through the app. The real magic happens when the money is transferred from the parent's account to the child's account.

SquareOne goes beyond virtual transactions; it provides kids with Eftpos cards, allowing them to experience real-world financial interactions. For tech-savvy youngsters, the app seamlessly integrates with Apple Pay, adding a modern twist to their financial journey.

One remarkable feature is the ability to create savings accounts within the app. I established a dedicated 'Australia' savings account for my kids, fostering a sense of purpose and responsibility. The app allows parents to set automated 'interest' at chosen intervals, encouraging children to save diligently until they reach their goals.

To ensure a balance between freedom and responsibility, SquareOne offers robust parental controls. Parents can lock accounts, restricting access until a specified time or until parental approval is granted. Additionally, every transaction from the child's account generates notifications on the parent's phone, providing a transparent view of spending habits.

SquareOne has proven to be a game-changer in our household. It simplifies the process of managing pocket money and transforms it into a valuable learning experience for our children. If you're a teacher-parent seeking a digital solution to instil financial literacy, I highly recommend giving SquareOne a try.

Remember, a wise person saves for the journey. SquareOne makes that journey not only manageable, but exciting, for both parents and kids alike.

Hei konā mai! (Until next time!)