I received this product for free from Moms Meet (momsmeet.com) to use and post my honest opinions. This post may contain affiliate links.
Recently I have been on a search for a debit card for my kids. Both my daughter and son are now at the age where they hang out with their friends and pay for various things on their own. Unlike the “olden” days, it seems that using cash is a dying practice and considered inconvenient (especially by Gen Z). Therefore, when I heard about the Mazoola app through Moms Meet, I immediately wanted to find out more.
What is Mazoola?
Mazoola is an app that allows parents or guardians to set up a family mobile wallet. Parents electronically transfer money from their checking account to their kids “wallet” through the app. When the kids download the Mazoola app, they have access to a virtual debit card on their phone that they can use at stores (or online). This debit card can be used wherever Apple Pay or Google Pay is accepted. Parents can also set spending limits and approve or block where the debit card can be used. Of course, since Mazoola provides access to a debit card, kids are limited to only making purchases within the amount of money that you make available in their account. No need to worry about wild spending sprees!
One of the best aspects of the Mazoola app for our family is that I can now transfer my kids’ allowance directly to their electronic “wallet”. Before, I would give my kids a set amount of cash every week, but this was starting to become problematic. First, my husband and I do not keep much cash at home, and hardly ever visit the bank or ATM. Additionally, sometimes I would forget to give my kids their allowance. Then I would have to remember if I owed them double allowance the next week, etc. Using Mazoola, I was able to set up an automatic weekly transfer-so convenient!
Learning Valuable Lessons In Financial Responsibility
Although my kids do have chores around the house that they are expected to complete, our family does not directly correlate chores to allowance. However, for families who do tie chores directly to monetary compensation, Mazoola also allows parents to make a transfer of money contingent on the completion of said chores.
In addition, Mazoola can teach teens responsibility by allowing them to donate to charities and set savings goals.
Families understandably have different philosophies and systems regarding money. The tools Mazoola offers are valuable for teaching financial literacy and responsibility for everyone. In addition, Mazoola has been independently certified as COPPA*-compliant, and won ‘Best in Tech’ in the 2021 National Parenting Product Awards!
*Children’s Online Privacy Protection Act is a U.S. federal law designed to prohibit the collection and use of personal information about children by the operators of Internet services and websites. Passed by the U.S. Congress in 1998, the law
took effect in April 2000. It is administered and enforced by the Federal Trade Commission (FTC).
Try Mazoola For Free!
I know for me, one of the main reasons I resisted trying other debit cards designed for kids is that I did not want to pay a monthly fee. The good news is that Mazoola is currently offering families a one-year membership at no cost with the ability to cancel anytime. This is the perfect opportunity to see if this kind of virtual family wallet/debit card works for your family!
Mazoola is available to download through the Apple App Store or Google Play. Mazoola is FREE for one year, plus receive $10 when you sign up* through this link: momsmeet.link/mazoolaapp.
*Eligible set-up includes the following actions: 1) Create a profile 2) Fund an account