What is FamZoo?
FamZoo is an online virtual family bank that helps insanely busy parents (sound familiar?) teach their kids good money habits with minimal hassle through hands-on practice.
Our private family “banking” system is designed to help you teach your kids to earn, save, spend, and give money wisely in a safe, friendly environment. You’re the “banker,” and your kids are the “customers.”
You can manage your kids’ funds in either IOU accounts, or prepaid card accounts (subject to eligibility), or a combination of the two. Your kids sign in separately to access their own accounts, while you maintain visibility and control through a shared online dashboard.
You define the rules of your private family banking system and economy in a way that matches your unique values. You can set up any combination of
- automated allowances,
- rewards for chores and odd jobs,
- “payroll” withholding for saving or giving,
- penalties for missed work,
- parent-paid interest on savings,
- expense sharing,
- matching contributions,
- and much more.
Start super simple, and add sophistication gradually as your kids mature.
Ready to get started? Sign up now!
Need more info? See our frequently asked questions.