“Dad, can I have $20 to go to the movies tonight?”
Do you ever feel like a walking ATM machine for your teenagers? Instead of handing cash, help guide their spending with the CURRENT app.
CURRENT was designed to allow parents to guide their teens spending through a controlled debit card. Parents can add specific amounts to their teen’s debit card through automatic transfers. These transfers can be made on demand as determined by the parent, or set up automatically – say a weekly allowance of $20.
Parents are able to monitor and track spending with 24/7 notifications and visibility to the account. Additionally, controls can be set. For example, the funds may not be released onto the card until chores have been completed (the parent would release the funds upon completion). Parents also have the ability to add monetary rewards to the account and approve them when they are achieved. For example, mopping the floor earns the teen $5.
Lastly, any adult with a bank account can contribute. No more losing birthday money – it can be automatically transferred to the teen’s account!
Speaking of automatic payments, are your current premiums directly debited or are you still writing monthly checks? Curious to make the switch? Our agents at the Miller-Schuring Agency can help!