It's important to get kids set up with money savings accounts early to get them familiar with how to save money for future needs, but the 'Kidfund' app takes things in a different direction when it comes to saving money.
'Kidfund' works by enabling parents to set up savings accounts for their child and put money into it on a one-time or recurring basis in order to get them started. From here, parents can share photos and updates of the child in order to incite family and friends to send gifts directly to the child's money savings account. This ensures that gifts will be saved by children and make the money available for them down the road when they will need it most.
The 'Kidfund' app also enables parents to donate a percentage of the money received in the account to kids in need.