bankaroo started as a family project to help children learn how to manage their savings. Danielle came up with the idea when she was 11 years old and helped with the design testing and marketing. Dad helped with the technology, and mom helped with the rest. To date we have thousands of members from more than 70 countries around the globe.
Danielle started bankaroo when she was 11 years old.
A Big sister, honor student, Karate expert and video games player/designer.
Loves video games (dah!), art and reading.
A husband, a proud father and entrepreneur at heart. Built several startup companies over the years and always trying to work on things that would benefit the world.
bankaroo started as a family project in 2011. Today we have tens of thousands of members from more than 70 countries around the globe. We rely on our members’ support to help us make the service better.
bankaroo works on any device that’s connected to the Internet: your computer, laptop, tablet device and smart phone.
We developed native mobile applications for iOS (iPhone, iPod and iPad) as well as native Android mobile application for Android phones and tablets. Other devices (such as BlackBerry and MS phones) are supported with a mobile HTML5 application.
Our blog is full with information, ideas and tips on financial education for families and kids. We are always open to hear from you - please suggest topics and share our blogs with your network.
If you’ve already got your kids working with money (good for you!), a big challenge is getting them to keep track of their funds on paper. Getting them to keep track of the money physically can be just as tough, however, and most parents need a few strategies for preventing the cash from accidentally disappearing. Get them a wallet or purse. Most kids, if left to their own devices, will either shove money in a pocket or clutch it in their hands if they’re out and about. The first approach isn’t particularly great because the money often drops onto the floor as kids fish through the pockets for other treasures. Alternately, the money sometimes works its way out of the… Read More →
To learn about and manage money well, it’s extraordinarily helpful to have a reliable income. For young kids, that income might come from an allowance or doing chores around the house. Once your kids are older, however, a regular job might be more advantageous. These questions can help you and your child to determine whether it’s time to look for a job. 1) What kind of financial responsibilities does your child face? As young people mature, the financial demands they face typically increase. For instance, they might need a basic scientific calculator for math in middle school but need a more expensive graphing calculator for high school courses. If their legitimate expenses are consistently outweighing the amount they’re given or… Read More →
Setting savings goals is a basic task you’ll want your kids to do as they learn about money. Just how big those goals should be isn’t set in stone, however, and parents often question whether big goals are worth it. Big Savings = Yes! Big Goals, Big Vision If your child saves only a small amount of funds, then realistically, some resources will be out of their price range. This doesn’t mean they can’t set goals or do good, but rather that their selection of goods or overall influence might be limited. Subsequently, they’ll have a harder time getting out of the proverbial box and setting goals that really help them grow individually and socially. If you allow your child… Read More →
For years, financial gurus have been divided about whether to use money with kids as a reward for things like good grades. They’re not any more unified about whether it’s okay to fork over some bills or change forgeneral good behavior, such as using table manners. If you’re on the fence about this issue, it’s good to look at both sides. Of Course You Should Use Money as a Reward! Once kids receive funds for their behavior, the money is tangible evidence of what they’ve accomplished. For some kids, these tangible rewards can make the value of acting appropriately feel much more real and advantageous. It can help them get to the “Aha!” moment where they realize good choices yield… Read More →
Identity theft has made continual headlines in recent years, but the victims of this crime aren’t just adults—many are kids. As a parent, protecting your kid’s identity is critical because of the serious ramifications theft can have on their financial security. Why You Should Worry Criminals are using the boom in technology to their advantage, using sophisticated tools and programs to get user data and steal identities. Once they have this information, the criminals use it to drain funds out of accounts and establish unauthorized lines of credit. They also use the data to support illegal immigration, get driver’s licenses and even land employment. Criminals are targeting kids in particular in their schemes to acquire data. A study by Carnegie… Read More →
With so many banks in business, not all savings accounts are created equal, especially when it comes to kids. To get a good arrangement, you’ll need to shop around with your child. The exact features you sign up for can vary depending on your situation, but these specific elements are particularly good to grab if you can. 1) Zero or near zero fees Extra charges can eat into the little money your child might deposit very quickly. Maintenance fees are probably the most common ones to watch out for, but look out for hits for inactivity, too. 2) No minimum balance requirements The majority of kids are not going to have incomes that are large or steady enough to support… Read More →
By now, your kids hopefully know some basic money facts, such as the value of specific coins or what a budget is. To keep them interested in learning even more, though, introduce them to these less commonly known money tidbits. The use of paper and metal money is hundreds of years old. Experts believe that the very first metal money was the ingot, which was made and exchanged in ancient Mesopotamia (modern Iraq). The heavier the ingots were, the more value they had. It was around 600 B.C. thatpeople started minting coins with values on them in ancient Lydia (modern Turkey). Paper money got its start in China. These first bills circulated around 1,400 years ago. Paper bills in the… Read More →
The phrase “spending addiction” might conjure up images of adults happily swiping credit cards and swimming in bags of merchandise, but the reality is that kids make up an increasing percentage of addiction cases. If you see these warning signs in your kids, it might be time to have a heart to heart about their spending habits. 1) Your child returns items frequently. It’s normal for kids to take products back to the store once in a while if the items are defective or not what the children expected. Kids who hit the service desk on a routine basis, however, often aren’t using enough rationalization in their decision-making process. They easily give in to the emotional urge to buy in… Read More →