Kachinga

I’m trying to cancel my account. The kids are getting older and I’m going to set up checking accounts for them. Plus the app is clunky and I’ve had a lot of issues. Unfortunately, I’m trying to move the money from their accounts and my wallet into my bank, but it wont let me. Support said the kids just have to spend their money. I can’t even move the money from my wallet into my bank account because it says I have pending transfers, which I can’t pay. And even if I did, they’d have to spend it rather than transfer it out. Basically, I have no access to MY MONEY.

Good financial app for my children.

So I paid for my card about 2weeks ago and it’s still not here

This is the worst app I ever downloaded

I can’t seem to find a way for my wife and I to co-manage our kids accounts through this app. It seems having two parents who both want to share in parenting responsibilities is not in alignment with how the app is designed to work. Unless you only get that option for a small fee…?

it has potential but needs work to be great. i had trouble during the signup process it got stuck and glitched multiple times. one negative aspect is that it forces you to use plaid for adding your bank account, which is a big privacy concern. you can assign an allowance, choose a split for disbursements (save, give, spend). but there is no info about how save and give are managed. spend is simple, the child can use the debit card to make purchases. this part works great. paid chores work in a confusing manner, and there is no ability to assign one off chores. additionally a paid chore doesnt pay per occurence in the week, the amount you set is for the entire week. so if you assign dishes 2 times per week, you need to set the price as $2 if you intended to pay $1 per chore. there is ability to assign a one off chore but its not very clear as you have to click on frequency and select once. also the app is frustratingly slow and difficult to navigate. also be prepared to wait 7-10 days for your deposits to reflect, so plan ahead of time on deposits so that you have the funds in your parent wallet to cover the payouts on saturday. as for financial literacy and the importance of work, it is a helpful tool. My child has begun asking me questions about credit, banking, and stock trading and her work ethic towards chores has reversed overnight. She is eager to work and make money now. So thats a big positive. overall i am hoping to see improvements in speed and user experience before i can truly say the app does what it intends, though it is certainly a great start. right now it is difficult but works well enough im willing to give it time to improve.

Good

I haven’t used it yet but I have a 13 year old granddaughter who needs one so I’m going to try it out

Card

While I have not yet found the perfect kids chore/debit card, I am happy to stick with Kachinga for the time being for our family. We first tried Go Henry (no ability to set up daily tasks, just weekly or one-time) and Greenlight (pricey, complicated)… We really like Kachinga but there are just two things that we feel could be implemented to make it perfect: 1. The lack of option to pay for a customized card. The boring purple un-customizable card is why we didn’t go with this company first. Go Henry allowed for you to select from several fun options, and Greenlight allowed you to upload your own design. Not a huge deal, but you could potentially attract more customers if this were changed. 2. Please please please (we beg you) make the option to allow the amount paid for each chore to be subdivided daily. For example, my child can earn $2 a week for keeping her room tidy. However if she doesn’t get a check mark on one day out of 7, she loses the whole $2. So if she keeps the room clean Monday and Tuesday but doesn’t do well on Wednesday, she loses the money for the entire week. Therefore, she gives up and stops trying from just having one off day. (“What’s the point?” she says, “I’ve already lost the money this week anyway”). A better option would be to penalize the child 1/7 of the $2 for each day they don’t get a check mark. I think if those two things were changed, this app would be perfect. It’s still a great tool though. Thank you!