As we step into a new era of technology and financial independence, it has become increasingly important for teens to have access to a debit card. A debit card not only allows them to manage their own finances but also instills valuable lessons about money management and responsibility. Whether it’s for making online purchases or teaching them about budgeting, selecting the right debit card for your teen is crucial. In this article, we will explore the top 5 best debit cards for teens as of July 2023.
1. Greenlight:
Greenlight is a top pick for many parents due to its excellent features catered specifically to teenagers. It offers a parent-managed app through which parents can monitor their teen’s spending, set limits, and even approve or deny purchases in real-time. Greenlight also provides educational tools to help teens learn about budgeting and financial responsibility. With various safety features and a user-friendly interface, Greenlight is a fantastic choice for teens.
2. RoosterMoney:
Designed with children and teens in mind, RoosterMoney is a popular choice for parents looking to teach their kids about money. With a visually appealing app, RoosterMoney allows parents to assign chores and payment rewards, teaching their teens the importance of hard work and earning money. It also enables parents to set savings goals and track spending, guiding teens towards responsible financial habits.
3. FamZoo:
FamZoo is an excellent option for parents who want to educate their teens about personal finance. With its emphasis on learning financial literacy, FamZoo provides a prepaid debit card that can be managed by both parents and teens. Parents can set up automatic allowances, track spending, and oversee their teen’s financial progress. This card also offers unique features such as interest-bearing savings accounts, encouraging teens to save their money for the future.
4. Current:
Current is a fantastic choice for teens who want more control over their finances while still having parental oversight. Teens can manage their accounts through the Current app, which provides a host of features such as real-time notifications, instant money transfers, and spending insights. Parents can set spending limits, block certain merchants, and monitor transactions, giving both parties peace of mind.
5. Gohenry:
Gohenry is a highly recommended debit card for teens, offering a range of features for parents and teens alike. With an easy-to-use app, parents can set weekly allowances and allocate funds for specific purposes. Teens can track their spending and even set savings goals, learning to manage their money responsibly. The card also offers unique features like the ability to earn interest on savings and donate to charities, making it an all-rounder.
In conclusion, selecting a suitable debit card for your teen is an important decision that can help them develop essential skills for their financial future. Greenlight, RoosterMoney, FamZoo, Current, and Gohenry are among the top 5 best debit cards for teens as of July 2023. Each card offers its unique set of features, aimed at empowering teens and helping them cultivate responsible money management habits. By providing your teen with the right tools and resources, you can set them up for a successful financial journey ahead.
