Access to bank card

[Sweetypiebabe]

Hope someone can give me some advice.

Darling daughter now 15 had a go Henry account when she was younger and now has a Lloyds bank (spends) and a Nationwide one (birthday/Christmas money). Whenever she wants anything she comes to us and we discuss things and most of the time she will go away n think about things then come back to us to say whether she wants to buy the item or not.

She is so sensible and has been brought up to be careful with her money. She has access to her Lloyds account if she goes out with her friends and again is really sensible. So not sure why I am asking to be honest but at home her cards are put away in a safe place - should I give her the responsibility now of handling her Lloyds card at home too so if she wants something online she can just order it or should I leave things the way they are?

I feel like she should be given more responsibility but just wanted a bit of advice first. Thanks x

Mine had a bank card from about 12 I think - and I never interfered with it. There was a cap on how much could be spent/withdrawn in one transaction/week, which we gradually increased over the years.

I'd give access to the Lloyds card. Better to mess up with money when 15 than at 18 or 25.

Thank you MissAmbrosia & Teen divided. I think giving access to her Lloyds which covers her spending money is a good idea that way I know she has always got a larger amount in her Nationwide n should she want/need to buying anything else. I also agree that setting a weekly cap limit of spending will build up trust between us then by the times she goes to college she will be more confident with her money management. x

DD has access to her Nationwide card (pocket money) since she is 11 and the account was set up. She even orders on the internet on her own (Etsy).

She can't overdraw the amount, the money is hers to spend and she needs to learn how to deal with it.

She is quite good, has months where she hardly spends money at all, others are busier.

She doesn't want to discuss every little thing with us, why should she.

Thank you for your advice reluctantbrit.

i sat down tonight with my dad and we discussed the possibility of her always having access to her spends which she said would be great but instead of her spends going into her Lloyds every month she decided that some of it could I pay into her nationwide account which I though was extremely sensible of her. She said she didn’t want her spends accumulating when perhaps she doesn’t spend much. So we agreed that every 2-3 months we would look at her Lloyds account and she will decide if she wants to transfer some of her spends into her Nationwide account or whether she was saving to buy something else then it would be left in her Lloyds account

I felt so proud of her and she felt really happy that I was trusting her with it. She then said “can I order things from Amazon as you have prime and can get things next day” so I am going to add her card to my Amazon and show her how to pay from her bank rather than mine.

we both felt that this was a great way to start the year. I am confident that she will adhere to the rules and if she doesn’t she will learn from her mistakes xxx.

thank you everyone for your advice it really helped xx

Sorry on my last message I made an error

the second line should say ‘I sat down with my dd ( not dad) xx

I would say yes. And I agree with the earlier poster that this is the age when it is okay to muck up and spend on daft things, and learn better ways to use money. Otherwise they have to learn this lesson when they have access to much more money than this.