Using Regulars to encourage budgeting and responsibility (PLUS & Rooster Card feature)
As part of the RoosterMoney PLUS and Rooster Card subscriptions, you can set Regulars for your children which let you deduct regular outgoings when allowance gets delivered. This can help your child budget for regular payments or contributions such as phone bills or subscriptions you are paying for.
To add a Regular:
- Tap on your child's profile to view their dashboard, then tap on the 'Settings' cog in the top right corner.
- From there, tap on 'Regulars'.
- At the bottom, click on 'Add a Regular', or if you've set up a Regular before, press the Add (+) button in the top right to add a new one.
- Give your Regular a title to describe what the payment is for.
- Set the amount the regular will cost, this amount will then be taken from your child's Spend pot on the day allowance you've chosen allowance to be delivered.
- You can also categorise the Regular with it's type, and then press the add button to save it.
Once Regulars have been created, they are listed on the Regular's dashboard for you and your child, and also displays how many days are left before the payments are taken, the total amount, how many regulars there are and whether or not your child is on track for the current period to meet their Regulars payments.
Question: Can I set a Regular to be taken from the Spend pot at a different time to when allowance is awarded?
Answer: This isn't something you can currently do. Regular deductions are taken at the same time allowance is delivered to avoid your child defaulting on their Regulars payment. As a workaround, if your child's outgoing is something that comes out monthly but their allowance gets paid weekly, you could divide this payment into weekly increments. For instance, a 9.99 outgoing each month could be set to 2.30 per week to account for the total 52 weeks in a year.
Question: What if my child doesn't have enough money to cover a Regular?
Answer: The Regular won't get deducted if your child doesn't have enough money in their Spend pot to cover it, or if Allowance delivery is delayed if not all chores have been completed and is awaiting a decision from a parent on what Allowance to reward. You will get notified if that happens you can deduct the regulars amount manually, when they do have the funds to cover it.