Bomad

Bomad, short for “Bank of Mom and Dad,” is a family money-tracking app that helps parents manage children’s money without relying on cash or opening bank accounts. Parents can record purchases made for their children and deduct the amounts from their virtual balances, as well as add allowances, birthday money, and other deposits. Children can view their balances and transaction history in an app on their own devices and receive notifications, helping families keep money records visible and easy to follow.

Bomad offers tools for scheduling allowances, budgeting, saving toward goals, and submitting expense claims. It can also track real-world balances held outside the app as external accounts, and supports debit card transfers. The app works across parents’, spouses’, and children’s devices, with versions for Apple and Android. Families can use it as a pocket money tracker or digital piggy bank, while involving children in spending decisions and encouraging saving habits.