A pre-paid debit card may be just what you need to manage back to school spending this year. Usually this is the time when parents heave a huge sigh of relief, as children return to school. This year that’s not a given, with some schools and universities permitting physical classes and others sticking to online classes.
The start of a new academic year is a time of out of control spending for many parents. For school-going children books, stationery and sneakers are big ticket items, but for college freshmen, get ready to splurge on laptops, online subscriptions and furniture!
The SpendSafe debit card is here to bring order to this madness. Give your child the freedom to spend on things he or she wants, but retain the ability to rein in their excesses. Find out how a prepaid debit card for teens helps you manage back to school spending this year.
How the SpendSafe debit card helps you manage your children’s spending habits
Prevent overspend – Load the card with a finite amount of funds which you can replenish. You can even set limits on the total spend allowed, after which transactions must be approved by you.
Set merchant limits – Worried your kid might spend on games instead of books? Parents can set limits at which stores (and how much) money can be spent.
Save for later – Our prepaid debit card for teens lets them save for big ticket items too. It’s a great way to develop the important like skill of saving.
No credit card shock – Save yourself from the shock of huge credit card bills. Our card lets you see how much is being spent and manage spending in real-time.
Earn extra – Find chores, errands and good behaviour to reward children for. It’s a great way to build some good habits and letting them splurge on things they want.
For most parents who are constantly worried about what their child is spending on, a parent-controlled debit card is a godsend. Large dollops of money and the ‘unlimited’ freedom of a credit card has contributed to many a child discover bad habits. The worst part is parents don’t discover these things till the end of the month, till they finally see their credit card statement. Not so with a prepaid debit card, where you can see how much has been spent.
Using SpendSafe to manage spending
Fun! That’s what we make back to school shopping. Register with SpendSafe to make a list with your kids of all that you need to buy, negotiate spending limits for everything and then let them do the shopping the way they want to.