Invest in Allowance A child's experience with money will follow them for life. Nickel helps them develop essential skills to secure their financial future.

Invest in Allowance

A child's experience with money will follow them for life.
Nickel helps them develop essential skills to secure their financial future.

 

We make it easy to raise money-smart kids.

Managing money with your kid doesn't have to be complicated. Part mobile app, part prepaid debit card, Nickel empowers you and your child. You stay in control while your child gains real-world experience.

With Nickel, your child can learn to handle money responsibly: how to earn it, when to spend it, and how it can grow. 

You maintain oversight while your child faces everyday financial choices. Dinner out or a movie in? Play video games or wash the car? To save or not to save? These decisions bring consequences and valuable lessons learned.

We believe it's better to learn those lessons on $30 rather than $30,000.

Here's how Nickel works for your family:

  INSTANT AND AUTOMATIC Send money instantly to your child's Nickel Card from anywhere, for any reason. Set a consistent, automatic allowance, pay for chores and cover emergencies.

 

INSTANT AND AUTOMATIC

Send money instantly to your child's Nickel Card from anywhere, for any reason. Set a consistent, automatic allowance, pay for chores and cover emergencies.

  INCOME AND OUTCOMES What to do with their money is up to your child. Plan ahead or splurge away? Nickel provides kids with the tools to decide.

 

INCOME AND OUTCOMES

What to do with their money is up to your child. Plan ahead or splurge away? Nickel provides kids with the tools to decide.

In the long run, maybe she’ll realize, “Well, maybe I don’t need that $50 shirt,” or whatever...just pocket the money and make some interest off of it.

I think that’s perfect. That’s amazing.
— Lynda, mother of Gracie, age 16
  SPARK INTEREST Earning pennies per year in interest isn't very engaging. That's why we enable parents to set and pay a meaningful interest rate that help kids understand compound interest, opportunity cost, and the time-value of money.

 

SPARK INTEREST

Earning pennies per year in interest isn't very engaging. That's why we enable parents to set and pay a meaningful interest rate that help kids understand compound interest, opportunity cost, and the time-value of money.

  TRUST (BUT VERIFY) Nickel makes it easy for you and your child to keep track of spending. Each decision – even the mistakes – is a teachable moment, and maybe even (gasp) a conversation.

 

TRUST (BUT VERIFY)

Nickel makes it easy for you and your child to keep track of spending. Each decision – even the mistakes – is a teachable moment, and maybe even (gasp) a conversation.

Most kids can’t tell you what they spent money on two days ago, let alone two weeks ago. This can tell the kids what they spent money on two weeks ago.

I think that’s extremely powerful.
— Alex, father of Levi, age 15
 

Hands on, real world experiences.

A POcket FOR THE FUTURE

Kids can save up by sending money to their Nickel Pocket. And with AutoPocket, kids can set it once and watch it grow. All the money they pocket is held off their Card and, after 30 days, can earn the interest you set.

 

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INTEREST RATES THAT TEACH

With Nickel, you can set the interest rate you pay. Set it lower for natural-born savers. Set it higher to motivate spenders. Either way, your child can witness the power of compound interest.


SAFER THAN CASH

For parents and kids, Nickel is better than cash in almost every way. Instantly disable a Card if it's lost or stolen, know where the money is being spent, and send money in an emergency. And because Nickel is designed with kids in mind, certain transactions are automatically blocked: no ATM access, no travel, and no gambling (you can see the full list of restricted categories in the Nickel mobile app). And finally, all of your money in Nickel is FDIC insured. For more details, please see the Cardholder Agreement.

 

Try Nickel FREE for two months.
After that, it's just $5/month per child.

 
 

Currently available exclusively for iOS.
Nickel is designed for kids 8+. They'll need their own mobile phone number to use Nickel.

Full details of the free trial are here.

 

What parents and kids are saying about Nickel

Nickel is awesome.

You can see how much you’re spending and you can see how much you’re setting aside, and it just makes you more money-aware.
— Natalie, age 13
Is it the more money you have in the Pocket, the more interest you get? Dang. That’s cool.
— Gracie, age 16
I think an allowance is important for a teenager or a child because it models the income that they will have when they grow older. It forces them to make decisions on how to prioritize their purchases. It teaches them that if they want to buy something that exceeds their monthly allowance, then they have to set their money aside over a course of several months in order to accumulate the amount needed to buy the thing they want to buy.

Making a bad financial decision against their allowance while they’re children, it doesn’t have any dire consequences. So they can afford to make mistakes, and then they can learn from those mistakes and develop the skills that they’ll need once they’re earning a real income and are financially responsible.
— Ted, father of Tristan, age 13
Nickel is a bridge. Without a tool, without having anything concrete to look at, everything is like “No, you’re spending too much money.” Or, “You’re spending it on things that you don’t really need.” With Nickel I can say, “No, really, on this date, this is how much was spent and you spent it on this. Was that really what you wanted to do? How do you feel about? Did you think that was a wise thing to do?”
— Alexis, mother of Angeline, age 13
This is a new, fresh approach that gives kids a place in this huge finance world.

This is very exciting. Being able to give my children an opportunity to grow [in] any type of financial environment is absolutely outstanding.

I know that Nickel would help me as a parent show my son how important saving is and that you will earn more and more, the more you set aside, and that’s awesome.

Nickel would actually help me stay on track and stay organized with allowance, because juggling a large family sometimes that can be difficult. This simplifies everything for us.
— Tenisha, mother of Anthony, age 12

Navigating the intersection of family and money.

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Get them all at nickel.co/blog.