2 minute read

Teaching Your Teen to Save for Phones, Shoes, and Games

Help your teen save for the things they love while building lifelong financial skills. With bunq's Child Accounts, your teens can easily learn how to budget, track their expenses, and spend responsibly, helping them gain financial independence for the future.

November 26, 2024

Helping teens learn smart money management makes a difference, especially when they’ve got their eyes on things like a new phone or video game. With bunq’s Child Accounts, you can guide them to manage their money, build good habits, and save for those big goals. Here’s how bunq can help set them on the path to financial independence.

Teaching the Importance of Saving

One of the first steps in financial education for teens is understanding the value of saving. Whether your teen is saving for a new phone or a bigger purchase, managing a Savings Account teaches them patience, budgeting, and financial responsibility. Encouraging your teen to save not only helps them reach their goals but also create good financial habits that will last.

Using bunq’s Child Accounts to Manage Money

bunq’s Child Accounts are designed to make it easy for teens to manage their finances. With bunq's Budgeting tools, real-time spending Insights and Instant Notifications, teens can easily track their expenses and improve their money management skills. These tools help teens understand their spending patterns and make more informed decisions.

With Insights, your teens can see exactly where their money is going, helping them better understand and manage their spending. Instant Notifications give them an alert for every transaction, helping them keep track of their spending and avoid overspending.

Joint Accounts and Auto-approve Requests

With Joint Accounts and AutoAccept for payment requests, you can monitor your teen’s spending without having to micromanage. This setup gives teens some freedom while keeping you in the loop, so they can make responsible choices without feeling controlled.

Schedule Payment Requests for Pocket Money

Teaching teens how to manage their pocket money is a great way to introduce the concept of budgeting. Using bunq’s Scheduled Payments feature, you can automate regular payments into your teen’s account. This helps them plan their spending and builds financial discipline—one of the core skills in financial education for teens.

Promoting Financial Independence

Understanding how to handle a Savings Account is a crucial step toward financial independence for teens. bunq’s simple, user-friendly tools make it easy for teens to learn how to budget, track their expenses, and save for future goals. Plus, every Child Account comes with a prepaid Credit Card, which encourages responsible spending both online and in-store.

Conclusion

By using bunq’s Child Accounts, you're helping your teen save for what they want while setting them up for financial independence. These tools teach them essential skills like budgeting, expense tracking, and money management—skills they’ll use for the rest of their lives.

Helping teens learn smart money management makes a difference, especially when they’ve got their eyes on things like a new phone or video game. With bunq’s Child Accounts, you can guide them to manage their money, build good habits, and save for those big goals. Here’s how bunq can help set them on the path to financial independence.

Teaching the Importance of Saving

One of the first steps in financial education for teens is understanding the value of saving. Whether your teen is saving for a new phone or a bigger purchase, managing a Savings Account teaches them patience, budgeting, and financial responsibility. Encouraging your teen to save not only helps them reach their goals but also create good financial habits that will last.

Using bunq’s Child Accounts to Manage Money

bunq’s Child Accounts are designed to make it easy for teens to manage their finances. With bunq's Budgeting tools, real-time spending Insights and Instant Notifications, teens can easily track their expenses and improve their money management skills. These tools help teens understand their spending patterns and make more informed decisions.

With Insights, your teens can see exactly where their money is going, helping them better understand and manage their spending. Instant Notifications give them an alert for every transaction, helping them keep track of their spending and avoid overspending.

Joint Accounts and Auto-approve Requests

With Joint Accounts and AutoAccept for payment requests, you can monitor your teen’s spending without having to micromanage. This setup gives teens some freedom while keeping you in the loop, so they can make responsible choices without feeling controlled.

Schedule Payment Requests for Pocket Money

Teaching teens how to manage their pocket money is a great way to introduce the concept of budgeting. Using bunq’s Scheduled Payments feature, you can automate regular payments into your teen’s account. This helps them plan their spending and builds financial discipline—one of the core skills in financial education for teens.

Promoting Financial Independence

Understanding how to handle a Savings Account is a crucial step toward financial independence for teens. bunq’s simple, user-friendly tools make it easy for teens to learn how to budget, track their expenses, and save for future goals. Plus, every Child Account comes with a prepaid Credit Card, which encourages responsible spending both online and in-store.

Conclusion

By using bunq’s Child Accounts, you're helping your teen save for what they want while setting them up for financial independence. These tools teach them essential skills like budgeting, expense tracking, and money management—skills they’ll use for the rest of their lives.

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Risk indicator for all bunq B.V. accounts

1
/
6

This number is indicative of product risk, with 1/6 indicating lower risk and 6/6 indicating higher risk.

bunq B.V. is adhered to the Dutch Deposit Guarantee Fund. The maximum guaranteed amount is €100,000 per user

Personal

Business

Easy Card icon
Easy Card

Free

Get an international credit card in less than 5 minutes. Add it to Apple/Google Pay and start making payments today.

Easy Savings icon
Easy Savings

Free

Get a Savings Account and start growing your money faster with 3.36%* interest. No minimum deposit is required!

Easy Bank icon
Easy Bank

€3.99/month

Everything you expect from a mobile bank, and more. Open a bank account in just 5 minutes with your phone and ID.

Easy Bank Pro icon
Easy Bank Pro

€9.99/month

Enjoy full control over your money wherever you go, with true borderless banking, easy budgeting, powerful cards, and much more.

Easy Bank Pro XL icon
Easy Bank Pro XL

€18.99/month

Discover the full power of mobile banking, with worldwide Travel Insurance, priority support and more trees planted when using your card.

Find your perfect fit

Risk indicator for all bunq B.V. accounts

1
/
6

This number is indicative of product risk, with 1/6 indicating lower risk and 6/6 indicating higher risk.

bunq B.V. is adhered to the Dutch Deposit Guarantee Fund. The maximum guaranteed amount is €100,000 per user

Personal

Business

Easy Card icon
Easy Card

Free

Get an international credit card in less than 5 minutes. Add it to Apple/Google Pay and start making payments today.

Easy Savings icon
Easy Savings

Free

Get a Savings Account and start growing your money faster with 3.36%* interest. No minimum deposit is required!

Easy Bank icon
Easy Bank

€3.99/month

Everything you expect from a mobile bank, and more. Open a bank account in just 5 minutes with your phone and ID.

Easy Bank Pro icon
Easy Bank Pro

€9.99/month

Enjoy full control over your money wherever you go, with true borderless banking, easy budgeting, powerful cards, and much more.

Easy Bank Pro XL icon
Easy Bank Pro XL

€18.99/month

Discover the full power of mobile banking, with worldwide Travel Insurance, priority support and more trees planted when using your card.

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Open your account in just 5 minutes, directly from your phone.

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