Are you one of those parents who is looking for a way to keep check and balance on your child’s expenditure and saving? Do you find it difficult to teach your child on how and where to spend money?
— Android Headlines (@Androidheadline) May 10, 2017
Well, well. Current debit card has come to the rescue. It is an app controlled debit card that functions similar to a regular debit card, but the app gives a lot more power to the parents to control their children’s spending. Firstly all the transactions are recorded in the app. Parents can continuously transfer money to their child’s account, as per their need. Now the child can use money as they wish like in any other visa debit card. If parents feel that they don’t want their child to use money on certain things like alcohol or on betting they can block spending on them using the app. Also if they feel that their kid is spending too much money for no reason, parents can also lock the card.
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Moreover the app is designed in a way that it encourages savings. For instance if you spend $20.25 dollars on buying shoes, the app would deduct $21 and keep the rest 75 cents on savings account.
To install this app on your phones you would have to pay $5 per month and if you find it extremely helpful you can pay $36 beforehand for the whole year.
This app will keep the parents satisfied and teach children the concept of savings, using money where needed and might even put a stop on few bad habits of youngsters.
Image via: TechCrunch