7 Best Debit Cards for Kids and Teens

MAMA SAY WHAT?!

Giving your child a debit card at a young age can be an excellent way to teach them about money and budgeting early in life.

In fact, any steps you can take as a parent to promote financial literacy early can go a long way in shaping your kids’ futures.

However, not all kid’s debit cards are created equal.

Some have higher monthly fees. Others are free but charge ATM and card reload fees, and a handful of cards offer additional features above and beyond the competition.

What Debit Cards Can Teach Kids About Money

Young people can learn a lot about money by using a debit card. One skill that they will likely pick up above everything else is budgeting.

By giving your child a debit card, you can foster good spending habits by limiting how much money they can spend, essentially making it impossible for them to overspend.

Rather than giving your kids the money to purchase a toy or candy bar, sending money to their debit card .

Allow them to make the purchase themselves teaches them the value of money and the concept of opportunity cost.

What Defines a Kid’s Debit Card?

Let’s take a closer look at what sets a kid’s debit card apart from a traditional debit card. Generally, debit cards for kids must comply with three rules:

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