Modak Helps Families End the Year Strong With New Snowball Savings Goals and Daily-Accruing Boost Rewards

Kids and Parents Now Receive a 4% Rewards Boost* on Eligible Balances Through Jan 31st, 2026, Encouraging Families to Save, Give, and Learn Together

Menlo Park, CA — Modak, the family-focused financial platform helping parents and kids build real-world money skills together, today announced the expansion of its Modak Rewards Boost program following its November launch. Families now receive a 4% daily-accruing Boost Reward on kids’ Snowball Savings Goals and parent spending balances through January 31st 2026, giving families a meaningful way to finish the year with momentum.

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Snowball Savings Helps Kids Understand How Consistent Saving Builds Over Time

Kids can now open a Snowball Savings Goal (with parent approval), a simple and intuitive savings space designed to help them understand the effects of steady saving. Each dollar added to the Snowball grows daily through Modak’s Boost Reward, helping kids visually connect small habits with big progress.

Inside the Modak app, families can see:

• Boost status (e.g., “Earning 4%”)
  
  
• Boost earned and already paid
  
  
• Boost earned this month that will be paid next month
  
  
• Lifetime Boost earned
  
  

While the Boost Reward is paid monthly, kids can watch their savings grow day by day, a feature that helps them understand progress in real time while reinforcing that consistency matters. These calculations and payouts follow the methodology described in the Modak Boost Terms.

“Kids light up when they see their Snowball grow,” said Madhu Yalamarthi, CEO and co-founder of Modak. “They can see the results of their decisions right inside the app. We built Snowball so children can celebrate their progress, learn discipline, and feel proud of what they’re building. The Boost Reward adds an extra layer of motivation.”

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Parents Earn Boost Too — Making Saving a Family Effort

Alongside Snowball, Modak is also offering the Boost Reward on parent spending balances through January 31st, 2026. This addition reinforces that saving isn’t just something kids do—it’s a shared family practice.

“When kids see their parents saving alongside them, the lesson becomes so much more powerful,” said Alvaro Montero, Head of Product at Modak. “Families aren’t just putting money aside—they’re building confidence together.”

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A Feel-Good Year-End Push Toward Saving, Sharing, and Giving

Snowball’s launch aligned naturally with the holiday season—a time when families reflect on generosity, intention, and planning for the future. Early Snowball users have already begun saving for:

• Gifts for siblings and friends
  
  
• School activities or upcoming experiences
  
  
• Future goals for the new year
  
  
• Charitable donations and kindness projects
  
  

“This is the time of year when kids really see the impact their choices can have,” Montero added. “Snowball turns saving into a joyful, empowering habit.”

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Daily Accrual, Monthly Payouts — Clear, Simple, and Designed for Learning

The Modak Boost Reward is calculated daily and paid monthly, provided eligibility requirements are met. Families can track their progress at any moment, but payouts only occur after the month ends and eligibility is confirmed.

Kids learn several foundational skills:

1. Consistency creates momentum.

Even small deposits help their Snowball grow.

2. Planning builds confidence.

Seeing what will be paid next month encourages patience.

3. Money has purpose.

Kids can save toward gifts, goals, and meaningful experiences.

4. Saving is a habit, not a single action.

Daily visuals reinforce the impact of repeated choices.

5. Families learn together.

Parents earning Boost too creates shared accountability and excitement.

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Boost Rewards Available Through January 31st, 2026

Modak will offer the 4% Boost Reward through January 31st, 2026. After that period, the program may change, expand, or evolve, as permitted by the Modak Boost Terms of Service.

“Offering this Boost at the end of the year gives families a chance to experience what real, steady saving can feel like,” Yalamarthi said. “It’s a small taste of what’s possible when kids and parents build habits together, and we hope it inspires families as they head into the new year.”

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How Families Can Start Their Snowball Goal

Getting started takes just a few steps:

1. Parents approve a Snowball Savings Goal in the Modak app
   
   
2. Kids add money from allowance, chores, transfers, or gifts
   
   
3. Balances begin accruing Boost Rewards immediately
   
   
4. Boost payout arrives monthly, automatically
   
   
5. Families track progress together inside the app
   
   There are no minimums, no fees, and no commitments to participate during 2025**.

Availability

Snowball Savings Goals and the 4% Boost Reward are available now to all Modak users in the United States. Families can get started by opening the Modak app and navigating to Goals.

For more information, visit www.modakmakers.com/boost or download Modak on iOS and Android.

*Boost reward subject to change at any time. Withdrawals may reduce earnings.

** Fees for expedited or premium services may apply. See for applicable fees. Find out more in our Cardholder Agreement.

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About Modak

Modak is a family-focused financial platform helping parents raise financially confident kids. Through real debit cards, chore tracking, savings goals, and engaging rewards, Modak turns everyday life into financial learning moments.

The Boost Reward is a promotional reward provided solely by Modak under the Modak Rewards Boost Terms of Service and is not interest, not an annual percentage yield, and not paid by Modak’s bank partner.

Deposit account and the Modak Visa® debit card issued by Legend Bank, N.A., Member FDIC. Modak is a financial technology company, not an FDIC-insured institution.

Media Contact:
hi@modakmakers.com