My older boys have been asking for debit cards for some time now. It seems to be the ultimate step into independence and away from childhood for them. They’re still my babies and still children, but I respect their urge to take on more adult ways of the world and learn some financial independence along the way.
I’ve looked into regular current accounts for them, they already have savings for driving lessons or university but they’ve never had an account they can access when ever they need. Yet whenever I knuckle down and look into it, so many things have got in the way, finding the time to make an appointment at the bank during school holidays being the main one, so when I stumbled upon the Osper debit card I naturally headed off to their website to learn more.
The bank accounts offering debit cards which we’d already looked into, only offered them from 11 years + so I was surprised to see Osper started at 8. Their tag line is Empowering Young People to manage their money responsibly. And that’s where it got me! right there with responsibly.
I’ve always tried to be careful with our finances and hope dearly to pass this on to our children. There have been lots of times they have desperately wanted to buy something but I have played the cruel to be kind card and refused to sub them, instead working out a way they can save enough, either through selling unwanted toys or games or by encouraging them to do extra chores to earn it.
I don’t want my children learning from an early age about borrowing money and being in debt. I’d rather they saved, planned and took the time to shop around before diving straight in and parting with their cash. It’s taken some battles and cries of me being cruel but I don’t think there is ever a time to teach children to look after their money, or as my husband’s gran would say “look after the pennies and the pounds will look after themselves.”
So a card that helps empower them to carry on my financial ethos does it for me, and some. It’s a prepaid debit card which works alongside a mobile banking app for the family. You pre pay their card from your bank account (don’t fret, they have no access to top it up from their app) and they can track everything they’ve spent on the app. You can load it up using their allowance, which to me seems much better than giving them the cash each as this tends to be spent of silly little things, instead of saving it up. I’m also forever scooping change out of the tumble drier which has been left in pockets. Good for me but not for them!
With the app my boys were able to watch their money grown and once they’d found something they absolutely had to have, could use their cards to pay for it online or as my teenager did, draw it out of the ‘hole in the wall’ feeling very grown up and independent.
I especially liked the option to load up instant emergency money. Now the teenager is out and about on his own most weekends, there’s no danger now of him loosing his money and not being able to get the bus home or worse, lunch. You can also lock their card from the app should they loose it. (I give it 2 months before we’re doing this for either of them!)
So why am I sharing this snippet of pre parenting old with you? Well aside from it being good to share, Osper are offering a deal for a year’s free subscription and a free £5 top up. I’ve got nothing to gain from keeping that to myself. Simples! Click here to see for yourself
I received no payment for this post, there are links within the text which could result in an incentive for my recommendation.