*This post was created in partnership with Starbucks, and as always, all opinions expressed here are our own.
Do you hand your kids cash? We’ve been talking with several of our friends with kids the same age as ours, and we all grapple with giving our kids cash money. We all ask ourselves the same question. If you hand your kid a $10 bill in the morning to go get a snack after school, do you really know exactly where they spent that $10? Yeah, neither do we. That’s why we decided that prepaid cards are better than cash.
Oh, and good luck trying to collect the change leftover from that $10. Not that we don’t trust our kids – it’s just they can be a little…..careless with the cash.
In our family, we’ve got a Saver and a Spender. Ava is our little Saver, and she often squirrels away her allowance to save up for a big purchase. She has a goal in mind, and she will work towards that goal until she achieves it. On the other hand, Sophia is a spender. She neeeeeeds thiiiiiiings, and she must have them right now. (Kind of like a sweeter, kinder version of Veruca Salt from Willy Wonka & The Chocolate Factory – “I want an Oompa Loompa NOW, Daddy!”)
Either style works, we tell them, as long as they keep responsibly within budgets. Honestly, it’s important for both routes to keep track of how many dollars are actually available, whether saving or spending.



Prepaid Cards For Kids Are the New Allowance
We’ve been experimenting recently with the Starbucks Rewards Visa Prepaid Card, and it’s been a great teaching tool for us. Helping the girls understand how to manage a budget, we are parenting them in financial responsibility. And best yet, they feel like it’s freedom!
Loading our Starbucks Rewards Visa Prepaid Card with their allowance each week, we are able to monitor their expenditures on the cards we got for this purpose. Sitting down at the computer with them on a weekly basis enables us to teach them how to manage their budgets.



Why Cash Can Be Difficult
Cash is so easily lost or misplaced by kids. Our girls shove cash into their pockets without a wallet, crammed and smashed into little balls. Mixed with random coins, these pocket-fountains-of-cash often erupt when being pulled out. Money goes flying all over the floor. Plus, cash is easy to spend without full knowledge of where it actually went. Easy come, easy go – until it’s all gone, that is.
And even though we harp on the girls to carry a purse or backpack with them, they don’t always remember to bring it. However, they do remember to stick our prepaid cards inside their phone cases. Because they never go anywhere without their phones! At least we know the card will never be left behind or forgotten. We can also link the card to the Starbucks App, so they can make in-store purchases directly from their phones.



Prepaid Cards Allow Insight
One of the tools which automatically come with the Starbucks Rewards Visa Prepaid Card is the ability to check balances online. We like this card because there are no monthly, annual, or reload fees (other fees may apply) and it’s really easy to reload. For more info on the card, go to https://starbucks.com/starbucks-rewards/prepaid-card?utm_source=media&utm_medium=social&utm_campaign=2dadswithbaggage&spid=SPPC&cell=S27.
Through the Chase website we can track the girls’ expenditures ourselves, or better yet so can they. We’re teaching Sophia and Ava how to log on, access their card accounts, and view every purchase they’ve made.
Yes, the first couple of times we sat with them were complicated, as we talked through navigating the site to access the available information. Keeping the conversation under 10 minutes, we found these quick sessions provided great ways to have a conversation about the value of money. How far $10 goes (or doesn’t go) was a revelation to them. We also covered budgeting tactics, and planning for the things you want to buy.
So far, so good. No transgressions so far. We have not seen them go wildly over budget, or misuse the cards. They don’t seem to hate the conversations held over the laptop about budgets and finances. After all, it seems like a good exchange for the freedom of having the cards available for their use.



Racking up Starbucks Stars
All of these financial lessons have a silver lining for Ava and Sophia, and it’s called Starbucks. A place they already love to go for drinks and snacks, Starbucks now brings them new interest. The girls can cash in the Rewards they earn with purchases they make anywhere using our new Starbucks Rewards Visa Prepaid Cards.
Not only do we get 125 Stars after the first time we use our Starbucks Rewards Visa Prepaid Card to load $10 to our Starbucks Card, we can earn Stars for using the card to make purchases at Starbucks. And you get Stars when you make purchases outside of Starbucks stores.
Now it’s just a question of what they will get with those Stars. A Strawberry Frappuccino drink? Cinnamon Dolce Latte? Cake Pops or mini vanilla scones?
So many choices….
At participating Starbucks stores. Some restrictions apply. See Starbucks.com/terms for details.
Debit cards are provided by JPMorgan Chase Bank, N.A. Member FDIC.