Message from David Libby, President and CEO
Teaching kids about money has always been important—but in today’s increasingly cashless world, it matters more than ever. While many adults grew up using cash for allowances or birthday gifts, today’s kids are navigating digital payments, online shopping, and mobile wallets. Giving kids access to a debit card at a younger age can help them build strong financial habits early.
Financial lessons stick best through real-world experience. A debit card allows kids to practice managing money in everyday situations, such as buying a snack, paying for a subscription, or saving toward a goal. Because the card is tied to their own account, they see their balance change with each purchase. That immediate feedback reinforces the idea that money is limited and needs to be managed carefully.
Having their own debit card encourages kids to make decisions. Should they spend now or save for something bigger later? These moments help them learn the difference between wants and needs. Debit cards also offer a built-in safeguard: kids can only spend what they have. Unlike credit cards, there’s no risk of accumulating debt, making them a practical and low-risk way to learn responsible spending.
One of the biggest benefits of early debit card use is learning how to budget. When kids see their balance decrease, they begin to understand what it means to live within their means. Parents and other adult role models play a critical role here. By guiding kids through how to divide money into categories like spending, saving, and giving, they help make budgeting feel tangible and manageable. These shared experiences create teachable moments that can shape lifelong habits.
Debit cards don’t mean giving up parental control or involvement. In fact, they often provide more insight than cash ever could. Parents and trusted adults can monitor spending and use it as a teaching tool. If a child quickly spends their balance, it opens the door for conversations about planning and priorities—valuable lessons that are even more impactful when reinforced by consistent guidance and positive examples at home.
Cash is becoming less common, and kids will need to understand digital financial tools as they grow. Debit cards help them build familiarity with checking balances, tracking transactions, and thinking before they spend. Learning these skills early helps ensure they are comfortable and confident managing money in a digital environment.
A debit card also gives kids a sense of ownership and responsibility. Managing their own money—even in small amounts—builds confidence and independence. With the support of parents and other adult mentors, kids can develop strong decision-making skills and a healthy relationship with money that carries into young adulthood.
This approach aligns with Town & Country Federal Credit Union’s long-standing commitment to financial wellbeing. For decades, Town & Country has focused on helping members of all ages build strong financial futures through education, tools, and personalized support.
As a parent myself, I’ve seen firsthand how important those early lessons can be. Talking about money management with my own kids as they were growing up was incredibly important to me. Now that they’re adults, I can see the positive impact those conversations had on their financial journeys, and we still have those conversations today. It’s a reminder that the role parents and trusted adults play doesn’t end when kids grow up; it evolves.
That commitment extends to younger members through Town & Country’s Youth Rewards Checking, which offers a debit card with no age restriction giving families the flexibility to introduce smart money management when the time is right. Unlike many youth debit card programs, Youth Rewards Checking has no monthly fees, making it an accessible and practical option for families. Also, through Town & Country’s mobile app and online banking, parents can easily make transfers to their children, quickly and at no cost. Our Youth Rewards Checking is designed to empower kids to learn by doing, while giving parents and role models the ability to stay involved and guide those early financial decisions.
Kids don’t need large amounts of money to learn valuable lessons. Even small deposits from allowances or chores can create meaningful opportunities to practice saving and spending. What matters most is consistency, conversation, and example.
Youth Financial Education Month is a great reminder that the lessons we teach our children today can shape their financial confidence tomorrow. By introducing tools like debit cards and staying actively engaged, parents and role models can play a powerful role in setting kids on the path to lifelong financial wellness.
