Note that Apple Pay and cash are not mutually exclusive!So I have been thinking about having pre paid credit cards or debit cards for the kids. They are in early teens.
Many of their friends have credit cards and Apple Pay
My daughter exclusively uses Apple Pay for everything, we send her Apple Pay Cash when she wants to “withdraw” money from her account (with us).
She does have a UGMA account we put long term savings in (she’s incentivized to put part of big gifts here because we give a100% match on anything she pies there) but mostly she just keeps an old fashioned ledger of her allowance, babysitting money, etc. and basically avoids cash (and her friends “borrowing” money from her) completely. Works great for us.
If my daughter was getting close to heading off to college I’d consider directly connecting Apple Pay to a real bank so she’s used to real banks, but that’s years away for her.
Statistics: Posted by mercutio2 — Sat Dec 07, 2024 9:57 am