The reason why most of the adults don’t do well in life in terms of financial management is because the management of money is commonly taught to us at an age where it is actually “too late”. If you have kids, then there’s one thing that you need to know: you need to talk to them about money, a lot sooner than you think. Though this might seem awkward to talk about young children about financial management, it is actually very essential. The habits that the kids will develop regarding money at a young age will help them do even better in their adult life, later on. The basics of money management must be taught to children as soon as possible.
Regarding kids and financing, have you heard of SpendSafe? It is a platform that will make it possible for your children to have their own debit cards, in order to make the process of transactions absolutely problem free for the parents and children. And SpendSafe will also teach the children many essential money management skills, which will allow them to do well in their life.
What Is SpendSafe?
Financial management is one of the key skills of life and most parents find it hard to teach it to their kids. And a majority of the parents are uneasy in giving their debit cards to their children. Is that the case with you too? Well, if it is, then SpendSafe is the solution!
SpendSafe is simply a debit card for kids! The children can get to have their own debit cards which the parents control. And of course, the parents get to track the spending of their kids too! This gets rid of the issue of parents giving their own debit cards to the children or giving them cash, which isn’t preferred by many either.
Benefits Of SpendSafe
SpendSafe makes all the payment processes completely safe for children, so that the parents don’t have to worry about such matters. Following are some key benefits of SpendSafe.
- It makes all the payment matters safe for kids.
- It helps in making the children learn about financial management.
- Parents can track and monitor the spending of the children and manage everything accordingly.
- SpendSafe gets rid of the need of carrying cash.
- It also prevents all the children from purchasing illicit stuff.
Almost all of the financial institutions and banks do not offer debit cards to anyone that is under 18 years of age. This creates a problem for the parents as the younger children require a mean of spending as well. So, this is a problem that SpendSafe can help with, in the most effective and efficient manner.
Parents Have Full Control
SpendSafe is absolutely safe because it allows the parents to effortlessly track and control the spending of their kids. The control that the parents have is of the maximum extent. The parents can do the following as well.
- Track the spending and check the balance of their children’s account.
- The parents can manage more than a single account from only one interface.
- Parents can limit the purchases that the kids can make by approving payment only to the pre-approved vendors.
So, the parents have absolute control over the debit card of their children.
Children Learn About Financial Management Through SpendSafe
SpendSafe not only makes all the payment processes simpler and easier, but it also teaches the children a lot about financial management. For children, carrying around cash can be very difficult and it only leads to complications. SpendSafe makes sure that the children stay relaxed by knowing that they don’t have to carry cash everywhere. After the kids start using their SpendSafe debit card, they easily learn about the methods of managing and saving their funds in the most effective manner.
Financial management will become an easy task for the kids when they start using SpendSafe’s debit card.
How SpendSafe Works
Following are the simple steps in how SpendSafe works.
- The parents get signed up and then register their children.
- Parents approve an amount that they see fit in the account.
- The parents approve the vendors.
- The children get to make absolutely safe transactions and purchases that are cashless.
- Children learn about financial management and become able to manage all their funds in a responsible and smart manner.
- Parents also get to track and monitor all the purchases and spending of the children.
So, as you can see, the process is very simple but the benefits are too good to ignore for most of the parents.
Concluding Remarks: SpendSafe Is Essential
In today’s time, nobody wants their children to be carrying lots of cash. With the help of SpendSafe, the parents will be able to feel completely relaxed by knowing that their children will only be able to spend at select vendors, which the parents choose themselves. And SpendSafe also offers the opportunity to children to learn about managing money in the most efficient and smart way possible.
We know that most parents don’t have the time to teach their young kids about financial management, but the point is that if you use SpendSafe, you’ll allow your children to learn through experience, which will be even more beneficial for them in the long term.
So, be sure to check out SpendSafe!