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How MoneyMe Works

MoneyMe is a parent-controlled virtual family ledger. Parents set the rules and stay in control; kids see their money grow.

Step 1

Parent creates the family

Download the parent app and sign in. Create your family and add your first kid profile. No kid email or password is needed.

What parents set up:

  • Kid's name and profile
  • Starting virtual balance
  • Interest rate (APR) and payment schedule
  • Allowance amount and frequency

Step 2

Kid pairs with QR code

The parent generates a QR code in the parent app. The kid opens the kid app and scans the code. That's it - the kid is paired and can see their account.

Why QR pairing?

  • No kid email address required
  • No kid password to remember
  • Parent controls which devices have access
  • Parent can revoke access anytime

Step 3

Kid watches money grow

The kid app shows the current virtual balance, recent transactions, and pending requests. Kids can see interest and allowance being added over time.

What kids see:

  • Current virtual balance
  • Interest earned
  • Allowance received
  • Transaction history
  • Pending withdrawal requests

Step 4

Kid requests a withdrawal

When the kid wants to spend or withdraw money, they submit a request through the kid app. The request goes to the parent for review.

Request workflow:

  1. 1. Kid submits withdrawal request
  2. 2. Parent receives notification
  3. 3. Parent reviews the request
  4. 4. Parent approves, denies, or counters

Step 5

Parent decides

The parent reviews the withdrawal request and decides what to do. They can approve the full amount, deny the request, or counter with a different amount. The decision is recorded in the ledger.

Parent options:

  • Approve: Deduct the amount from the virtual balance
  • Deny: Reject the request with an optional note
  • Counter: Offer a different amount

Important

MoneyMe is virtual

MoneyMe does not hold, move, or pay real money. When a withdrawal is approved, the virtual balance is updated in MoneyMe. The parent handles any real-world money separately. This keeps MoneyMe simple and keeps parents fully in control.

Virtual interest

Parents set an APR. MoneyMe calculates and posts interest automatically, teaching kids how compound growth works.

Automated allowance

Parents configure a recurring allowance. MoneyMe adds it to the kid's balance on schedule - weekly, biweekly, or monthly.

Immutable ledger

Every transaction is recorded permanently. Parents and kids can always see the full history of deposits, withdrawals, interest, and allowance.