Stumptown Startups: A new take on allowance

They're working on a smartphone app. Parents can create a list of chores and assign dollar amounts to each task -- say $5 to take out the trash or mow the lawn.

Kids can then log on to the app, view available chores, and mark off the ones they've completed. At the end of the month they'll get a pre-paid debit card shipped right to their front door.

"A lot of kids grow up and have cash and see how much money they have in their hand. When they get older most kids end up with just cards. It's a hard transition for some people," Piggy Bank CEO Oscar Godsen said.

The pair has created a Kickstarter campaign to help fund their idea. The app will be free to download but will eventually include a small monthly fee.

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