Anonymous
06/15/2019 11:10
Subject: how do you handle money with your tweens?
Cash and Apple Cash.
Anonymous
06/15/2019 10:33
Subject: Re:how do you handle money with your tweens?
My kid is 14 and I don’t have a lot of money for extras. I would pay for something with cash maybe once a week (a movie or ice cream or a snowball). I think cash works best because otherwise money doesn’t seem real to him.
Anonymous
06/15/2019 07:49
Subject: how do you handle money with your tweens?
Anonymous wrote:Many banks have teen spending accounts that are attached to your checking account, but set up as a separate sub-account. The teen can't touch your money, but you can deposit into theirs. I'm not sure if you have to be 13 for those or if 12 is o.k. I guess 12 is probably fine b/c one of my kids is 12 now and we set it up recently.
The kid gets a debit card and they get their own statements. I make sure their write all their deposits and expenditures in their ledger book. Teaches them that you have to SUBTRACT when you spend money... which makes the balance go down. And if you spend a lot, your balance will be close to zero.
Look at your bank for a teen account.
+1 We use CapitalOne and my kids have their teen "MONEY" account. Has a debit card and an app. Easy for me to transfer funds.
Anonymous
06/15/2019 07:15
Subject: Re:how do you handle money with your tweens?
For those who use Greenlight, can you tell me more? It looks like there’s a $4.99/month charge, is that per kid? Any other fees you pay? Can money be transferred from the card back to the parent, like if the kid has to reimburse me for something I paid for when he didn’t have his card on him? Thanks!
Anonymous
06/15/2019 07:09
Subject: Re:how do you handle money with your tweens?
My kids have gotten a weekly cash allowance since elementary school.
Anonymous
06/15/2019 07:04
Subject: how do you handle money with your tweens?
The bigger issue is that this is an opportunity to teach your DD about budgeting and financial planning.
Anonymous
06/15/2019 06:52
Subject: how do you handle money with your tweens?
We use cash, and the old fashioned allowance system. Events are usually on me, while things need to come from their budgets.
Anonymous
06/15/2019 06:39
Subject: how do you handle money with your tweens?
We are also using Greenlight - kid really likes it! It’s a card and app, and he can earn money by doing extra chores I input into the app, and his allowance gets added. It takes away the constant “mom can I get a new Fortnite skin?” If he’s got the money and wants to use it that way, have at it. The app also has spend/save/give buckets which I like.
Anonymous
06/15/2019 01:33
Subject: how do you handle money with your tweens?
I think cash works great. What don’t you like about it?
Anonymous
06/14/2019 23:02
Subject: how do you handle money with your tweens?
My teens are older, 16 & off to college in August.
We just this year added them as authorized users on a credit card and I’m happy to say it’s worked out great!
Prior to this year we were cash per event. I personally suck at carrying cash so the card thing worked better for me.
The bright side is I can actually see where they’re sending money, whereas with cash it may or may not actually be used for the purpose it’s given.
We just this year added them as authorized users on a credit card and I’m happy to say it’s worked out great!
Prior to this year we were cash per event. I personally suck at carrying cash so the card thing worked better for me.
The bright side is I can actually see where they’re sending money, whereas with cash it may or may not actually be used for the purpose it’s given.
Anonymous
06/14/2019 08:52
Subject: how do you handle money with your tweens?
We started our kids with cash, but moved them to debit cards in MS. We also found it worked well to give them a fairly generous allowance and ask them to manage their spending. They are definitely much more careful about how they spend money when its "theirs".
Anonymous
06/13/2019 20:15
Subject: how do you handle money with your tweens?
Many banks have teen spending accounts that are attached to your checking account, but set up as a separate sub-account. The teen can't touch your money, but you can deposit into theirs. I'm not sure if you have to be 13 for those or if 12 is o.k. I guess 12 is probably fine b/c one of my kids is 12 now and we set it up recently.
The kid gets a debit card and they get their own statements. I make sure their write all their deposits and expenditures in their ledger book. Teaches them that you have to SUBTRACT when you spend money... which makes the balance go down. And if you spend a lot, your balance will be close to zero.
Look at your bank for a teen account.
The kid gets a debit card and they get their own statements. I make sure their write all their deposits and expenditures in their ledger book. Teaches them that you have to SUBTRACT when you spend money... which makes the balance go down. And if you spend a lot, your balance will be close to zero.
Look at your bank for a teen account.
Anonymous
06/13/2019 19:52
Subject: how do you handle money with your tweens?
Greenlight card!
Anonymous
06/13/2019 19:34
Subject: how do you handle money with your tweens?
A card is not where you start. You start with cash.
Does she already get an allowance?
Does she have any neighborhood jobs to earn cash?
Does she already get an allowance?
Does she have any neighborhood jobs to earn cash?
Anonymous
06/13/2019 19:18
Subject: how do you handle money with your tweens?
My daughter is 12. This is the first summer I foresee her really doing a lot of things with her friends without adults there (getting ice cream, going out to lunch, etc.) and I'm looking for a better system than just forking over cash every time she wants to do something. Has anyone gotten their kid a debit card? What about one of those reloadable Visa cards? I like the idea of giving her a set amount of money each month and her having to manage it.