Someone on another thread said they opened a Roth account for their kid and deposited a "match" for their earnings. That small amount now will be huge when they retire. I plan to do this when DC is old enough.

Our teen also has a Capital One money account, with ATM card. There is no overdraft on this account, so she can't spend more than she has. I like it because I can move money in (or out) if necessary.