GoHenry by Acorns Kids Banking

GoHenry by Acorns is a mobile application designed to help kids and teens learn about money management and develop healthy financial habits. It offers a variety of features and benefits for both children and their parents, making it a valuable tool for families.

One of the main benefits of GoHenry is its automated allowance feature. This allows parents to set up a weekly allowance for their child, teaching them the importance of budgeting and that once their money is gone, it's gone. This helps children learn to prioritize their spending and make responsible financial decisions.

In addition to automated allowance, GoHenry also offers a savings feature where children can set their own savings goals and parents can lock and unlock the funds as needed. This encourages children to develop a habit of saving and gives them a sense of control over their money.

The app also includes task lists and rewards for completed chores, teaching children the value of earning money and the power of hard work. It also offers bite-sized lessons through in-app Money Missions, which have been shown to increase savings by over 30% in the first month.

GoHenry also provides children with their own prepaid debit card, allowing them to practice their new money management skills in the real world. With over 45 designs to choose from, children can personalize their card and feel a sense of ownership over their finances.

For parents, GoHenry offers quick and easy transfers, real-time spending notifications, and flexible controls over their child's spending. They can also incentivize chores and track their child's money habits through the app. Additionally, family and friends can send money directly to the child's card through Giftlinks and Relatives accounts.

For teens, GoHenry offers a teen debit card and account with features specifically designed for their age group. They can request or send money with friends, set savings goals, and even get paid through direct deposits. The app also offers spending maps to help teens track their expenses and make informed financial decisions.

Overall, GoHenry by Acorns is a comprehensive and user-friendly app that helps children and teens develop important money management skills. With its various features and benefits, it is a valuable tool for families looking to teach their children about financial responsibility.