Big Money Lessons Kids Can Learn Early When Using a Debit Card

Big Money Lessons Kids Can Learn Early When Using a Debit Card

A debit card for kids isn't just a tool that gives kids a way to save and spend money. It offers first-hand financial experiences and decisions, they'll need to know how to make as adults.


Here are four big, money lessons that a debit card for kids can instill, laying the groundwork for kids to grow into financially savvy adults.

Learning to plan by setting and achieving saving goals

A debit card for kids offers a way for kids to set their own savings goals based on what they consider important. Giving them the freedom to make their own choices to accomplish it.


As kids take steps toward their goal, they learn that their choices either get them closer to what they want — or further from it. Saving for that new gaming console for several months may seem simple enough now. Getting used to waiting and saving will help prepare them to follow a similar path to success to save money for a down payment on a house, or other larger expenses that come with being an adult.

Hard work pays off

Teaching kids that earning money requires them to do a job consistently and well, will help them build a good work ethic. Motivating kids to earn their own money helps them understand that there is a relationship between the work they do, the time they spend doing it, and the money they earn from that effort. It also shows kids that when they choose not to work, they may not have enough money to do what they enjoy.


Having a debit card for kids makes it easier for parents to manage and pay kids when the jobs or chores are completed. And lets kids track their earnings and experience the joys of a payday. 

Good financial choices can mean more control

Kids don't have control over a lot. They are told when to go to school, what homework assignments they must complete, and generally require permission for almost any decision they make.


Giving them a chance to earn their own money and decide how they want to spend, save, or give it, they gain a sense of independence that comes with major life lessons. They learn early that their financial choices will influence their ability to live the kind of life they want now and in the future.

Learning to get the most from their money 

Having a debit card gives kids visibility to track how much money they have, how often they earn, how much they spend and save.


When kids see just how many times they had to walk the dog or take out the trash to earn $20, they start developing a better sense of worth and the value of money. They're more likely to think carefully about what an item costs — and whether the value they'll get out of it feels fair based on the work they did to earn it.

Financial confidence comes with practice

Giving kids an opportunity to make their own money choices and guiding them along the way is the first step to raising financially confident adults.



Teach kids early to make smart choices with GoHenry's debit card for kids and the fun, in-app education suite Money Missions.
Written by GoHenry Published Apr 27, 2022 ● 3 min. read