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.
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 →
Sales can be amazing events that let kids get the most out of the little money they have. Exactly why stores go through these events can be confusing, however—after all, isn’t a business losing out if they sell stuff at lower rates? Here’s how you can explain the purpose of the discounts. What Companies Want to Do Most businesses have sales at least occasionally for four basic reasons: To get you to try the products Sometimes people don’t buy items simply because they see the purchase as being too risky. If the item is pricey and they end up not liking it, they either have to go through the trouble of returning it or they’re out their money. When… Read More →
Inheritance doesn’t just affect adults. It can affect kids, too. Knowing the basics of what inheritance is and how it works thus should be part of any child’s financial education. The Simple Definition Inheritance, in terms of finance, is something that another person arranges for you to have after they die, or which you have a legal right to claim after someone passes away. It is also called a portion, birthright or heritage. Different Forms Inheritance can come in many different forms. Usually, it has a cash value. Good examples here are jewelry, a house, land or stocks and bonds. Sometimes an item you inherit wouldn’t be worth anything to anyone except for you. For instance, your grandma’s old… Read More →
No matter where you live in the world, the holiday season—generally seen as November through December—provides a great opportunity for your kids to learn about charitable giving. The trouble is, many families are facing increasingly tight budgets, which can put a serious crimp in your children’s plans to help out. With a little planning, it’s still possible for your kids to make a big effect and feel great about being generous. 1) Have your kids look at what they already have. Even though some organizations or drives request new toys or clothes, many will readily take gently used ones. Have your kids go through what they have and pick out a few items in great condition to give away. Ones… Read More →
Internet banking and shopping can be incredibly convenient for your kids, but it’s not always safe. Following these handy tips can reduce some of the risks. 1) Show your kids how to avoid unsecure networks. With access to tablets, smartphones and other Internet-ready mobile devices, it’s incredibly easy for them to hop on a network that’s not secured. If they do this, they unwittingly can leave personal data unprotected as they access bank and shopping websites. Encourage your kids to use only networks that require a network security key, and teach them to look for other clues such as the yellow shield icon Windows machines display for secure connections. 2) Get them to change their passwords frequently. Multiple cybercriminals… Read More →
Most people think of ATMs when they think of machines that are most valuable for money-education, but coin sorting machines can be important, too. These machines are available at banks, as well as major department stores (usually near the service desk). How do coin sorting machines work? Basic coin sorting machines work mainly based on coin size. They dump the coins into different channels based on how big they are, much the same way that regular vending machines do. These machines can involve a magnetic test. Every coin has slightly different magnetic properties due to the metals they’re made with, so by exposing the coins to a magnetic field and determining their dimensions, the coin machine can figure out which… Read More →
Financial experts almost unanimously laud teaching kids how to tell the difference between “wants” and “needs”. The trouble is, they often stop their advice there, failing to give parents and caregivers some basic strategies that will help children make independent purchase choices. These questions can point your kids in the right direction and get them thinking through the purchases they make. 1) Does this item keep me safe or healthy? Safety and health will be your children’s purchase priorities, not only in the present, but through their entire lives. At the top of the basic safety/health list is food and shelter, but there are rules even here. With food, for example, the general guideline is to aim for something… Read More →
When kids just need a little bit of extra money or don’t qualify for loans on their own, they typically go to the Bank Of Mom And Dad somewhat by default. This shouldn’t necessarily be a habit, but if you handle the situation properly, it can be a great way for you to teach them about responsible borrowing. Depending on your circumstances, a few different questions might be appropriate before you open your wallet. What are you going to use the money for? No bank or credit union provides loans without knowing the purpose behind them. Prepare your kids for this and insist that they tell you where the borrowed money is going to go. Even if the item they’re… Read More →