Anonymous wrote:Anyone use either of these? We have been inconsistent about giving allowance and tend to just give the kids money when they ask but I'd like to start being better about giving a regular allowance and then expecting them to pay for most extras on their own. Kids are 12 and almost 14.

Opened checking and savings accounts at my credit union. Give debit card that can be used as a credit card. They can download to Apple Pay if they want.

We use Greenlight for kids 7, 10 and 12. They get allowance through it or other money they earn. It’s nice when they want something to tell them to use their account. It’s amazing how often they rethink…maybe I don’t really want that!

Anonymous wrote:We use the capital one teen money account. Comes w a debit card.

This is what we use. My ds has had his since He was 12. he is 17 now.

His account looks like another account in my app, but with the teen app only has access to their account. You can transfer money to them. You can turn off their card.

He actually just started using the app a couple of years ago. But he has it so that it texts him when transactions go through - mainly so he can keep track of the credits (see reimbursements comment below)

He can deposit a check, set up, Apple Pay, etc…. Such a learning experience for a 16-year-old.

I love that I can see what he buys and can transfer money to his account.
when my son buys items (like gas) he can put in his app to request reimbursement, and when I go into my app, I can just tap accept or deny, and it auto transfers the funds back to him.

It has a savings element, Where he can see that he has, for example $100 in his account where $20 is set aside as savings. This is totally controlled by him.

And when your kid turns 18, you can convert it to a regular checking account for them

Anonymous wrote:We use the capital one teen money account. Comes w a debit card.

Same for me. I transfer his allowance automatically. He can use Zelle too

Also use Greenlight, as do most of their friends.

Anonymous wrote:We use apple pay.

My kid linked his green light to Apple Pay.

We started an account with our credit union. DC's account is connected to ours so we can transfer money into it quickly and track all of the spending.

We use the capital one teen money account. Comes w a debit card.

Anonymous wrote:We started with Greenlight but switched to USAA debit cards. I was interested in Venmo because it would be useful for DD to use among friends or when she babysits, but I didn't want the debit card element because we already had USAA set up.

They just have USAA debit cards that we auto transfer allowance to every week.

We use Greenlight and they get a weekly allowance that matches their ages.

We started with Greenlight but switched to USAA debit cards. I was interested in Venmo because it would be useful for DD to use among friends or when she babysits, but I didn't want the debit card element because we already had USAA set up.

Greenlight works for us. It automatically deposits their allowance and they can use their card anywhere they can use a debit card. My kids use it for gas, grocery, restaurants, etc. It is super easy to deposit money/transfer out. You can chose how money is divided up (spend/save/gift) if that is important to you.

We got it when DS was 11y and he is 17y now. He has a regular saving account where his summer job money is deposited (that will be his college spending money.)

We use apple pay.

I considered both (my kids are similar aged) but Apple Cash has been working well for us. Haven’t needed anything more so far.

Anyone use either of these? We have been inconsistent about giving allowance and tend to just give the kids money when they ask but I'd like to start being better about giving a regular allowance and then expecting them to pay for most extras on their own. Kids are 12 and almost 14.