07-14-2021, 06:55 PM
We did this 20 years ago with our teenager. At the time the only real option that didn't require the kid have a bank account was VisaBuxx. We did it through Wells Fargo (they're not doing it anymore but other banks are). There was no charge for it and we funded it through our account. She couldn't overdraft it so if there wasn't enough money she couldn't buy anything so our account wasn't in danger if she overspent. We used it to help her learn the value of money. We offered to increase her allowance and put it on her card. We'd still pay for essentials (regular blue jeans, underwear, regular shoes, etc.) but she was to pay for her wants (fancy blue jeans, etc.). It worked out very well. I remember the first big purchase she made was for a pair of clunky shoes that were popular at the time. She wore them just a time or 2 when they went out of style. She learned a lot from that and started being careful with her purchases. Those early experiences have stood her in good stead in the years since.