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November 19, 2025
by Tanya Hausman
I often spend time thinking about the best ways to prepare my children for the responsibilities of adulthood. Whether it’s teaching them the importance of proper hygiene, helping them learn how to manage their time between homework and social time, or encouraging healthy eating habits, I understand how vital it is that I be involved in their development.
One of the worries that I have personally experienced as a parent comes from my children having a debit card. Parents or guardians who have experienced a child begging for a brand-new iPhone or asking for money to go out with friends want that child to learn how to save money and spend it responsibly. Debit cards come with potential security risks on top of requiring some level of financial literacy.
Here are some tips to consider before letting your child have their own debit card.
Before handing over the debit card, establish concrete guidelines for its usage. Discuss spending limits and clarify when and where you are comfortable with the card being used. Emphasize the importance of your child regularly checking their account balance before making a purchase.
Setting these rules in place at the start ensures less confusion later on.
The best way to keep an eye on their spending habits is to link their checking account to your online bank account. This allows you to set spending limits and ATM access for children who are just starting to handle their own money, which gives them the freedom to use their debit card while putting restrictions in place.
Consider linking their account to your personal online banking account as it will also allow you to set up transfers between your other accounts and your theirs, making it easy to move money they earn from chores, allowance, etc. If they have a job, you can help them set up direct deposit into their account.
New Tripoli Bank customers can bring their children to any of our branches, and we’ll help to set all of this up!
Teaching children financial literacy and proper debit card use is a commitment towards long-term success. Once they have their own debit card, you’ll likely want to keep an eye on how they’re spending money. If you see them spending every dollar as soon as they get it, sit down with them and explain the importance of saving money for long-term goals, emergencies or just items that are important to them.
New Tripoli Bank’s online banking platform can help in this regard. You can add your child’s debit card to your account’s Card Secure and set up push or email notifications, so you are alerted whenever your child uses their card. Among other features, it also allows you to set restrictions on the card or deactivate it.
It’s not enough to give your child the keys to their own finances; you need to show them how responsible adults budget their money. Most of a child’s learning comes from imitating those in their “money circle,” so it’s important to teach good habits.
Plan your monthly budget together. It’s important for children of all ages to learn concepts like income, expenses, and saving. If you’re currently saving up for a long-term goal, take the time to explain the budget process. Talk about how much you set aside each month, how you decided on that number, where you cut your other spending to save, and emphasize the importance of saving for the future.
A big part of using a debit card is making sure your personal and bank account information is secure. It’s critical they choose a strong, unique PIN for their debit card and go over emergency protocols in the event that the card is ever lost or stolen.
Customers at New Tripoli Bank can use the Card Secure feature on our online banking platform to monitor card activity. Take the time to go over their monthly bank statement together and explain how they can proactively identify potentially fraudulent transactions on their account in a timely manner.
Teach them the importance of online safety, whether it’s only buying from secure websites (look for “https” in the URL and a padlock symbol), avoiding entering personal information while on public Wi-Fi, or being able to identify scam ads and fraudulent offers on open marketplaces such as Facebook Marketplace.
Mistakes on their journey to adulthood are likely. Use these mistakes as teachable moments instead. For example: if they overspend, spend some time talking about how it’s important to keep track of their account balances and avoiding impulse purchases.
As they become more comfortable using their debit card and show responsible habits, consider gradually loosening the controls you have on their card. This helps build trust between both of you and at the same time encourages them to continue practicing smart spending habits independent of your monitoring.
Tanya Hausman is a Senior Deposit Operations Specialist at New Tripoli Bank. She has been working for the Bank since 2014 in various roles. Outside of work, she spends her time baking, hobbying, and raising her two children.
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