Updates

Here are the new features in the latest version of Mydoh App:

• New budgeting features: The Mydoh app now includes new budgeting features to help you track your spending and reach your financial goals. You can create custom budgets, set spending limits, and track your progress over time.
• Improved insights: The Mydoh app now provides more insights into your spending habits. You can see how much you’re spending in each category, where your money is going, and how your spending has changed over time.
• New ways to track your spending: The Mydoh app now includes new ways to track your spending. You can now track your spending by location, by merchant, and by category.
• More powerful reports: The Mydoh app now includes more powerful reports that you can use to track your spending and financial progress. You can now generate reports on your spending habits, your budget, and your transactions.

These are just a few of the new features in the latest version of Mydoh App. To learn more, please visit the Mydoh website or download the app today.

Managing money is a significant life skill that should be taught early on, especially since it is something that both children and adults grapple with. That is where Mydoh comes in, a revolutionary money management app and card designed for parents and children aged six to 18. Mydoh aims to make it easy for kids to gain real-life money skills, while allowing parents to coach, guide, or keep an eye on their children's finances.

Firstly, the Mydoh app offers two unique experiences customized for parents and kids, making it easy for children to earn and manage their money independently while parents track their spending and manage their accounts. Plus, kids can gain valuable money skills and safely spend their earnings using their physical or digital cards anywhere VISA is accepted.

One of the significant perks of Mydoh is that it helps children learn the value of money by providing parents with the option to set up one-time or recurring financial tasks. This option teaches children that money is earned and helps reinforce the responsibility that comes with managing money. Additionally, parents can also set a weekly allowance and send them money instantly through the app, providing kids with a sense of independence, while parents stay in control by monitoring their spending.

The only downside of Mydoh is that while it is designed to help children learn about money management, it does come at the cost of a subscription fee, which parents need to pay to use the app after the free trial ends. The app costs $4.99 per month, but Royal Bank of Canada (RBC) clients can pay a discounted price of $2.99.

Setting up a Mydoh account is easy and fast. To get started, parents need to register through the Mydoh website and create profiles for themselves and their children. Afterward, they may link their profiles to their children's accounts and enable age-appropriate restrictions. Once parent and child profiles are completed, they can begin utilizing their respective benefits and features.

Do I need to be an RBC client to use this app?

No, this app is available to anyone interested in using it. However, RBC clients receive a discount of $2.99 compared to the usual fee of $4.99.

Is Mydoh safe and secure?

Mydoh is issued by RBC and powered by Visa, ensuring a high level of security, including your child's smart card is prepaid, meaning they cannot spend more than what they have.

Should I monitor my child's spending with Mydoh?

Yes. As with any app, monitoring your child's spending can help teach them responsible money management habits and help prevent them from overspending.

In conclusion, Mydoh is a game-changer for both parents and children when it comes to money management. It is an easy-to-use app that not only encourages children to learn about and manage money effectively but also provides parents with a tool to track their child's spending and teach them valuable financial lessons that they will carry with them into adulthood.