TOP 6 Budgeting Apps for Teens (iPhone)

Look, budgeting is one of those things most of us don’t figure out until we mess it up.

But if you’re a teen — or a parent of one — this is the perfect time to build good money habits before real bills show up.

That’s where budgeting apps for teens come in.

These aren’t just regular finance apps with a “teen” label slapped on.

I’m talking about iPhone apps built specifically for teens — with debit cards, savings goals, smart parental controls, and even tools that teach real-world money skills (without being boring).

I’ve picked 6 of the best budgeting apps for teens that actually work in 2025.

One’s completely free. One’s my personal favorite.

Let’s dive in.

1. Greenlight – I Like It the Most

Pros:

• Smart debit card built for teens
• Customizable spending limits
• Powerful saving, giving, and investing features
• Parents get full control via the app

Cons:

• Monthly fee
• No free version after trial

Price: Plans start at $5.99/month.

Greenlight isn’t just another budgeting app.

It’s more like a full-on money system made just for teens and their parents.

The moment you sign up, you get a physical debit card for your teen, which you can manage right from your phone.

What I really like about Greenlight is how flexible it is.

Teens can set up saving goals, track their spending in real time, and even invest (yes, for real) — all from one app.

On the other side, parents can automate allowance, approve or decline money requests, set spending limits by category (like $15 max at Chick-fil-A per week, for example), and get instant notifications for every swipe.

There’s also a chore tracker built in, so teens can earn money by helping around the house.

And the app isn’t just about managing money — it teaches too.

Greenlight has bite-sized financial lessons built in, which, honestly, every high school kid should go through.

Now, yeah, it’s not free.

Plans start at $5.99/month for the basic features and go all the way up to $24.98/month for a full-fledged family shield.

But considering what you get — full parental control, banking tools, educational content, and a debit card — it’s seriously worth it for most families.

If you’re looking for an all-in-one app that helps your teen learn and earn, Greenlight is hands down the best pick.

2. Step – Best Free Option

Pros:

• Includes a real Visa card for teens
• Instant money transfers between parents and teens
• Built-in savings and budgeting tools

Cons:

• No investing or chore management
• Limited parental controls compared to Greenlight

Price: Free, but it does have some premium offerings.

Step is that rare gem — a free app that still gives teens everything they need to manage money like a pro.

It comes with a real Visa card that works online, in stores, even with Apple Pay — but without any overdraft fees, late fees, or interest.

What makes Step awesome is how seamless it feels.

Teens get a clean, easy-to-use app where they can check their balance, set up savings goals, and even get paid via direct deposit (yep, works great for part-time jobs or freelance gigs).

And parents can instantly send money, see where it’s being spent, and freeze the card if something goes wrong.

It’s also FDIC insured, so you’re not just playing pretend banking — this is real money, with real protection.

One thing to note: Step keeps things pretty simple. You won’t get investing tools or a built-in chore system like some paid apps offer.

But if you’re cool with that, it’s a perfect starting point.

If you’re a teen who wants to start budgeting (or a parent who doesn’t want to spend a dime), Step gives you the basics — and it does it without trying to upsell you on a premium plan.

For real — this one’s hard to beat if you’re ballin’ on a budget.

3. BusyKid – Best for Chores + Allowance Management

Pros:

• Kids earn money by completing chores
• Comes with a prepaid debit card
• Parents can set tasks and approve payments
• Teaches saving, spending, and giving

Cons:

• Interface feels a bit clunky at times

Price: $4/month (billed annually)

BusyKid is basically the real-life money teacher.

Instead of just giving your teen a debit card and saying “figure it out,” this app connects money to actual effort, like cleaning their room, walking the dog, or doing the dishes.

Here’s how it works: Parents assign chores through the app. Once the teen finishes them, they mark it complete, and the parent approves it. That money gets added to their BusyKid balance. Then, they can choose to spend it using the BusyKid Visa card, save it for later, or even donate a portion to charities.

It’s simple, but the habits it builds are massive.

I also like how it breaks down money into categories: Save, Share, and Spend.

It teaches that money isn’t just for buying stuff — it’s also about planning ahead and giving back.

Teens get a taste of responsibility and independence without feeling overwhelmed.

The prepaid card works in stores and online, and parents can lock it down anytime if needed.

The app does cost a few bucks per month after a short trial, but honestly, if you’re already paying out allowance or chore money, this gives structure to that flow.

BusyKid turns everyday tasks into real-world money lessons.

If your teen slacks off on chores? No pay.

If they hustle? They earn. Simple as that.

4. Current – Best Teen Banking App with Budgeting Tools

Pros:

• Real Visa debit card for teens
• Instant money transfers from parents
• Set savings goals and spending limits
• Push notifications for every purchase

Cons:

• Not built only for teens (but still teen-friendly)

Price: Free

Current is one of those apps that feels super modern — slick design, real-time features, and works fast.

It’s technically a full-on banking app, but they’ve got a version built specifically for teens, and it works really well.

Once you sign up, your teen gets a Visa debit card they can use pretty much anywhere.

You (as the parent) get full control from your own app: you can send money instantly, block certain merchants, get alerts for every transaction, and even lock the card with a tap if something goes wrong.

Teens, on the other hand, get some freedom.

They can create savings goals, check their balance in real time, and learn how to manage spending without the risk of overdraft fees.

It’s like training wheels for real banking — but it doesn’t feel “kiddy” or overly restricted.

The app also has smart features like spending insights, so they can see where their money’s going each week.

If they blow $20 on fast food in two days? They’ll see it right there.

Instant reality check.

Now, Current does have some optional paid features, but the basic teen account covers all the important stuff.

And it’s FDIC-insured, which gives peace of mind.

If your teen is ready to handle money like a young adult — but with a bit of a safety net — Current is a solid step up.

5. GoHenry – Best for Younger Teens & Prepaid Card Setup

Pros:

• Prepaid Visa card for teens
• Parents can set spending limits by category
• Chore management + allowance scheduler
• Fun, educational money lessons built in

Cons:

• App can feel a bit “kid-ish” for older teens

Price: $5/month for 1 kid or $10/month for 2-4 kids.

GoHenry is made for parents who want to give their teens freedom with money, but not too much freedom.

It’s like handing them the keys, but you’re still in the passenger seat, keeping things on track.

The setup is simple: your teen gets a personalized prepaid Visa card, and you get the control panel.

You can decide where the money goes, how much they can spend in certain places (like online vs in stores), and set up automatic transfers for allowance or rewards.

One of the best features is the chore management — you assign tasks, your teen marks them done, and once approved, they get paid.

Clean room = cash. Slacking off = nothing.

It’s a solid way to teach earn before you spend.

The app also includes short financial lessons built right in — like how interest works, why saving matters, or how to avoid scams.

They’re made for kids, but honestly, some adults could use these too.

GoHenry does cost $5/month, which is similar to Greenlight.

So if your teen’s a bit older and wants more flexibility, Greenlight might feel more grown-up.

But if they’re younger or just starting out, GoHenry keeps things tight and teaches good habits from the jump.

In short, if you want an app that mixes budgeting, chores, and full parental control — GoHenry’s got your back.

6. iAllowance – Best for Manual Budgeting Without a Bank Account

Pros:

• One-time purchase, no monthly fees
• Doesn’t need a real bank account
• Tracks chores, allowance, savings, and rewards
• Works for multiple kids

Cons:

• No debit card
• Feels a bit old-school design-wise

Price: $2.99

iAllowance is perfect if you’re not ready to hand your teen a debit card — or if you just want a simple way to track chores and money without linking up to a bank.

It’s a fully offline-style app, and everything runs inside it — you create the accounts, set the rules, and track everything manually.

You can set up weekly allowances, create chore checklists, and even add custom rewards (like $5 for finishing homework all week, or screen time bonuses).

Teens can see their virtual bank inside the app — there’s a Spend bank, Save bank, and even a Share bank if you wanna teach them about giving.

No subscriptions here either — you buy the app once, and that’s it.

No hidden fees, no upsells.

Now, it doesn’t give you a card or connect to real money.

So if you want your teen to actually swipe or spend, this one won’t do that.

But for younger teens or parents who want full control over allowance and chores, this app is honestly great.

If you’re all about keeping things simple and not getting banks involved yet, iAllowance gets the job done.

My Final Take

If you’re a teen reading this — or a parent trying to help your kid figure out money stuff — just know this: you don’t need to get it all perfect right now.

You just need to start.

That’s really what these teen budget apps are about.

Not turning you into some finance wizard overnight, but helping you build small habits that’ll actually stick.

Saving a little. Spending smart. Knowing where your money goes. Stuff I wish I had started earlier, to be honest.

If you’re going all in? Greenlight is hard to beat.

If you just want to test the waters without spending anything, Step is a no-brainer.

And even something super simple like iAllowance can be a game changer if you’re just getting started and don’t want to deal with bank stuff yet.

You don’t need to use all of these.

Just pick the one that fits where you’re at right now.

That’s it.

And if you’ve already found something that works for you? I’d love to hear about it.

Leave me a comment below.

I’m always hunting for apps that people actually use, not just the ones that look good in the App Store.

Thanks for reading. Hope this helped.

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