I pretty much only use cash for buying things on FB marketplace, so the idea of giving my kids cash to teach them about responsible spending and value etc seems antiquated. But giving them a debit card seems too abstract. What are you all doing?
I pretty much only use cash for buying things on FB marketplace, so the idea of giving my kids cash to teach them about responsible spending and value etc seems antiquated. But giving them a debit card seems too abstract. What are you all doing?
We do Greenlight for this, which has a management app and a debit card. It’s not perfect, but it’s working well for our preteen son and is pretty flexible. We can add money when he completes chores and can partition what he can spend where. It works and he’s definitely gaining more of an understanding of how to manage his money.
Edit - Greenlight also gives you a qr code and payment link that (e.g.) his grandmother can use to pay him for mowing her yard, etc. No cash involved.
This is so steep at $6/mo
Yeah, that’s a really steep price for what amounts to a special checking account. (And we’re currently at like 20/mo for my kid, until it gets negotiated up, so that’s a large chunk of that budget)