This post contains affiliate links which means I may receive a commission when you sign up with Mydoh
Have you heard about the Mydoh App before The Mydoh app is a valuable money management tool that helps families manage chores and allowance. It also helps teach children about financial literacy while safely providing them with financial independence.
We have been using the Mydoh app for about a year and we love it.
Signing up for Mydoh is simple.
First, a parent downloads the Mydoh app and signs up using their RBC Online Banking login or government ID to verify their identity.
After setting up their account, parents can create an account for their child, set up tasks and an allowance, send money instantly within allowable limits, track the kid’s earnings and spending, and lock and unlock their kid’s Smart Cash Card.
Children can manage their Mydoh account on their device and access a list of chores, track their earnings, and use their Mydoh Smart Cash Card to pay for purchases online or in-person..
We have been using the Mydoh app for a year now, and I love that the kids are always excited to finish their daily chores and mark them as “done” on the app.
With Mydoh, I have set up age-appropriate chores for the boys. These chores include things like making their bed every morning, putting their clean laundry away, helping empty the dishwasher, cleaning windows, and vacuuming the rugs.
The Mydoh app also helps keep them organized. The kids can see their daily chore list reminders and manage their savings and spending independently.
The boys also enjoy having their own Smart Cash Card to pay for their purchases. They have been learning about spending habits, budgeting, and feel proud about the money they save each month.
My kids take their Smart Cash Card with them whenever we go out, and they are always excited to use it when purchasing something in person. It makes them so proud not to borrow my card anymore.
I love that their allowance gets deposited in their account automatically each Saturday, which is pay day, and I don’t have to worry about transferring their money each week. I used to forget to pay them before, and now I have something less to worry about.
I also like that I get notifications when the boys make a purchase online or in person with their Smart Cash Card, and there are often teachable moments and conversations about learning to budget and save.
I have noticed that my kids have started saving more money since we got the Mydoh app. This is because they can see how much money they have and can keep track of their allowances and spending on their own device, which helps push them to continue saving.
The app also allows them to set a savings goal (for example, a trip, electronics, clothing, toys) and track their progress as they save and reach their individual goal.
Thanks to the Mydoh app, my children have been learning about money management through hands-on, real-world experience. They’re also gaining competence and confidence while building a healthy relationship with money.
The boys and I love using the app and will continue using Mydoh. Financial literacy is so critical, and learning about money should start from an early age.
In addition to the physical Smart Cash Card, Canadian youth can now design and own a custom Smart Cash Card called “Mydoh by Me”. This customizable prepaid VISA card allows your child to express their unique personality.
The card costs $6.99 and it can be designed by uploading your child’s photo of choice or a photo from Mydoh’s gallery (plus cool stickers!) and once the design is approved, it’ll be shipped to you in 5 to 7 working days.
Are you ready to sign up for an account? Use the code SAVE15 and get $15 deposited into your Mydoh account when you sign up for Mydoh. Offer expires 1 July 2023