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Teenagers

Parenting teenagers has its ups and downs. Get advice from Mumsnetters here.

Original poster

How teens spend their money...

13 replies

lexyapp · 19/03/2015 10:04

Hey all, I'm doing a bit of research into the way that teenagers are able to spend their money. I'm not talking what they spend it on but actually how they spend it. Do they have credit cards / cash / those pre filled cards.... if it's online do their parents leave them a login for say, amazon - are they allowed a certain amount to spend on itunes etc.... Any insight / articles etc would be helpful and really interesting. thanks!

OP posts:
mumeeee · 19/03/2015 11:20

When mime were teenagers they had a building society/bank account and had a cash card they could use to get money out of any cash machine but didn't have a debit card. They had an allowance which was put in monthly which they were allowed to spend on whatever they wanted. We only bought basic clothes and shoes so if they wanted beater stuff they had to buy that from their allowance. They changed to a debit card when they ere 18 didn't want one before. None of them had credit cards even when hey went to university.

TeenAndTween · 19/03/2015 11:21

We just upgraded my 15yo's cash card account to one with a debit card that can also be used online. It is (more or less) not possible for her to go overdrawn with it.

3nationsfamily · 19/03/2015 14:34

Yes my teens (13, 15) have debit cards that can be used in shops / online/ cash machine. They tend to get vouchers for Amazon/ iTunes from relatives for Christmas and birthdays which they use on their own iTunes accounts (they both have iphones/ ipod ) but use my Amazon account for simplicity.
My bank RBS allowed me to set a maximum daily cash withdrawal level on the account when it was first set up and it is not possible for them to go overdrawn or set up any direct debits etc with the card so they can't get accidently locked in to "free trials" deals which then charge after the free period expires.

TurnOverTheTv · 19/03/2015 14:41

My 14yo has had a debit card for 3 years. She gets £50 a month, she buys stuff online, goes to the cinema/coffee with friends, but sweets/magazines for her little sisters.

AdoraBell · 19/03/2015 14:41

Mine have cash because we are in a country that doesn't have bank accounts for Anyone under 18. In fact, not many adults qualify for a bank account.

I know they would love To have access To internet shopping and a card To use.

Leeds2 · 19/03/2015 15:05

I don't think you are allowed a credit card until you are 18.

My DD has had a debit card since she was 14. She uses it mainly for internet shopping. Uses cash for small purchases, and has an oyster card for travel.

bigTillyMint · 19/03/2015 22:02

DD (15) has a bank account with a debit card - I pay in her monthly allowance and she pays in her work cheques. She saves loads of money, but does by clothes, etc both online and in RL, plus withdraws cash for what she does with friends. I will give her the odd fiver if she is missing a meal at home.

DS (14) is getting a bank account with a debit card imminently, but as he doesn't have a job, he won't have that much in it! He will be doing the same as DD, but I will probably buy some clothes for him still as isn't earning.

BackforGood · 20/03/2015 14:25

Presuming you mean my U18s, not those who are able to have their own credit cards and who live away from home....

My 2 are cash users. Elder one (16) has a cash card she uses to get cash out of her account.
If they wanted anything ordering on the internet, I will buy it on my credit card and she'll give me the cash, but none of mine are big spenders / shoppers so it doesn't come up much.

Bonkerz · 20/03/2015 15:08

Ds (14) has a bank account with cash card. I deposit £20 a month and he usually spends it on clothes or toiletries and days out.

bigbluebus · 20/03/2015 17:16

DS had a debit card from the age of 13 (on a bank account specifically designed for teenagers.His account was topped up with pocket money by standing order each month nd he would pay in any other money he got.

He also had a kindle and if we were going on holiday I would allow him to top it up with reading material by using my card which was programmed in on Amazon. He was aware that I would always get e-mails telling me what was spent so never bought stuff unless he had permission (thank goodness).

Now he is older he has his own Amazon account and uses gift cards he gets for Birthdays/Christmas off uncles to spend on there or uses his own debit card.

clarad · 20/03/2015 23:46

DS is surprisingly sensible for a fourteen year old and only really spends his money on necessary clothes- then he stashes the rest. I'm trying to persuade him to save up for something nice as I know he has his eye on a Mac Book that I'm certainly not paying for.

DD is getting a debit card later this year and I am a little more worried bout how she will spend her money.

ChillySundays · 21/03/2015 20:31

Mixture of debit card (paper round and pocket money paid in) and cash (football ref and paid in cash on the day)

SoonToBeSix · 21/03/2015 20:33

Dd 16 has had a debit card since age 13. I transfer her a monthly allowance.

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