<![CDATA[ATM card for kids]]>Good sharing mummies, gives me an idea on how to teach my boy to manage his own finance. I gave my boy an ATM card sometime last year with a new joint account. I gave him an ATM card out of convenience, not so much about teaching him to manage his money. When my boy started Sec 1 last year, I gave him a daily allowance of $4, $6 if he needs to stay back for CCA. I myself don't carry much cash, sometime I only have less than $10 in my wallet. So it is very annoying when he would tell me that he needs extra to buy books or stationary from school bookshop or needs to stay back for extra lessons or he needs to pay for some enrichment activity or needs to top up his concession card, just before he leave for school in the morning. I wouldn't have extras after giving him his allowance. After much consideration, I decided to gave him an ATM card to save both of us the trouble. Each time I only top up $20 to the acct after he has made a withdrawal or top up his bus card. I still give him his daily allowance of $4 and $8. He's not the spending type and I make it clear to him that $ in the acct is only for urgent use. In fact, he tends to spend more if he has cash on hand. Just last month, I apply to have his concession card on auto top up so now he hardly touches the $ in the acct. He only withdraw cash or uses NETS to pay for meals when he had to stay out late in school.


I might consider giving him weekly allowance in the acct next year when he is in Sec 3, must let him be responsible for his own money 🙂

]]>https://forum.kiasuparents.com/topic/82699/atm-card-for-kidsRSS for NodeSat, 25 Apr 2026 03:15:19 GMTSun, 10 May 2015 05:35:38 GMT60<![CDATA[Reply to ATM card for kids on Thu, 07 May 2015 05:10:22 GMT]]>

Green_white:
hmm...i guess it teaches the kids to be responsible.


Not all kids mature at the same time especially boys. Teaching them to be responsible is good but not necessarily rushing into it. You will end up with more frustrations.

I cant help but notice that parents nowadays cant wait to push their kids into doing things which they may not be ready.

Take the cue from your child.

]]>https://forum.kiasuparents.com/post/1501641https://forum.kiasuparents.com/post/1501641Thu, 07 May 2015 05:10:22 GMT<![CDATA[Reply to ATM card for kids on Thu, 07 May 2015 04:55:08 GMT]]>hmm…i guess it teaches the kids to be responsible.

]]>https://forum.kiasuparents.com/post/1501615https://forum.kiasuparents.com/post/1501615Thu, 07 May 2015 04:55:08 GMT<![CDATA[Reply to ATM card for kids on Thu, 07 May 2015 02:46:26 GMT]]>My kids don’t get allowance during school holidays but I will give a minimum amt for makan/movie if they do go out with friends. But they seldom go out so its ok. If they want to go shopping with friends, then it will come out from their savings.

]]>https://forum.kiasuparents.com/post/1501487https://forum.kiasuparents.com/post/1501487Thu, 07 May 2015 02:46:26 GMT<![CDATA[Reply to ATM card for kids on Thu, 07 May 2015 02:12:29 GMT]]>I got my atm card only when in uni! And that’s cos I was staying in hostel and atm card made it easier for my dad to pass me pocket money. Especially during exam season when I don’t go home on weekends.


Slmkhoo - if dc goes out with friends during hols, they’ll have to use their savings. But if for school activities that extend past lunch time, then they’ll get lunch money. But the latter applies only to DD so far. DS doesn’t go back for school activities during hols.

]]>https://forum.kiasuparents.com/post/1501463https://forum.kiasuparents.com/post/1501463Thu, 07 May 2015 02:12:29 GMT<![CDATA[Reply to ATM card for kids on Thu, 07 May 2015 00:56:43 GMT]]>

bb_ mom:
I so gotta tell DC they're overpaid! DD gets $36 a week while DS gets $12.50 a week with extra $2 for lunch if he has CCA or supplementary class. Nothing during school hols, of course.


Right now, their bank accounts hold cash from all CNY, birthday red packets, savings and gift from late FIL. If we get ATM, it'll be to this pot of money! :nailbite: So no go for now...especially for DS. We're discussing this with DD as DH feels she's old enough to learn how to control her spending.
My kids get a smaller amount during school holidays as they don't spend as much, but we still give them some for going out, going back to school etc. They aren't spenders, so they save a lot of it. I drop hints about presents close to Christmas!

]]>https://forum.kiasuparents.com/post/1501419https://forum.kiasuparents.com/post/1501419Thu, 07 May 2015 00:56:43 GMT<![CDATA[Reply to ATM card for kids on Wed, 06 May 2015 22:12:42 GMT]]>I seriously think there is no rush to get ATM card for the kids.


I don’t think I got one until I finished school (oops pai seh) n there wasn’t any issue.

As the saying goes - everything will fall into place when the time is rite.

]]>https://forum.kiasuparents.com/post/1501362https://forum.kiasuparents.com/post/1501362Wed, 06 May 2015 22:12:42 GMT<![CDATA[Reply to ATM card for kids on Wed, 06 May 2015 14:38:22 GMT]]>my son prefers to hold cash. he doesn’t spend unnecessarily. but he is not street smart yet.

]]>https://forum.kiasuparents.com/post/1501280https://forum.kiasuparents.com/post/1501280Wed, 06 May 2015 14:38:22 GMT<![CDATA[Reply to ATM card for kids on Wed, 06 May 2015 14:35:33 GMT]]>

starlight1968sg:
fussyMummy:

:thankyou: Thank you very much for all of you... :please:


My DD is Sec 3 now.. she complaint a lot recently about the ATM card.. she mentioned that all her classmate obtain an ATM and can spend it wisely... 😓

I still hestitate... as DD love to buy things..tiny as a erase .. postcard.. :sad:

I think there is no required min balance in kids' savings a/c. So by not leaving much $$ in this a/c and reminding your dd to watch the balance while you watch behind the scene, your dd may still be able to carry an atm card.

If give atm card, need to watch closely. Cannot trust them blindly.

]]>https://forum.kiasuparents.com/post/1501279https://forum.kiasuparents.com/post/1501279Wed, 06 May 2015 14:35:33 GMT<![CDATA[Reply to ATM card for kids on Wed, 06 May 2015 14:33:53 GMT]]>

happyheart:
TheAnswer:

My Sonny I give him weekly allowance now.. Used to be daily.. This year changed to weekly..



I give weekly allowance to DS1 since P5 and he has been managing his money quite well. He seldom asked me for extra except when he has to pay for school worksheets and miscellaneous.
This topic reminds me that perhaps it is time to go to the next level ~ ATM 😄

Mine in P4 this year. Careful with his money and things. Things hardly go missing so I guess maybe upgrade him to fortnightly allowance next year and monthly allowance in P6.. If all goes smoothly, can give house keys and atm card in Sec 1.

]]>https://forum.kiasuparents.com/post/1501277https://forum.kiasuparents.com/post/1501277Wed, 06 May 2015 14:33:53 GMT<![CDATA[Reply to ATM card for kids on Wed, 06 May 2015 13:45:19 GMT]]>

sleepy:
I get notes in different denominations $2, $5, $10 at one go. Each time around $500 to $700 The entire stack placed inside a zip lock bag. My kids just help themselves.

Typically dd2 will take $4 or $5 daily while dd1 will take $10 daily. I don't keep track if they take more or less. All based on trust unless they do something to violate my trust. Any left over will auto carry forward to next day.
They won't buy nonsense stuff. Pocket money is only for food. For stationery, they will ask for my permission before buying
I will top up when they use up the notes.
Hi-five! We practice the same thing since DS in kindergarten. So far it works well for us too. DS still asks for permission to reimburse his stationery (he'll buy first and claim later).

]]>https://forum.kiasuparents.com/post/1501248https://forum.kiasuparents.com/post/1501248Wed, 06 May 2015 13:45:19 GMT<![CDATA[Reply to ATM card for kids on Wed, 06 May 2015 13:28:28 GMT]]>It never cross my mind to give my Sec 3 son an ATM card. He never ask for it too.

I gave him $50 pocket money a week, of which he donate $10 on Sunday mass. That left him $40 to spend for recess and lunch for the week. My husband and I will give him additional money if he tells us that he has only a few dollars left before the week is out. We will ask why even though we don’t really care for the reason. In a way it is to let him know we don’t anyhow dispense money. I use to keep all his Ang Pow money, but not anymore, now that I know he is careful with money.

]]>https://forum.kiasuparents.com/post/1501245https://forum.kiasuparents.com/post/1501245Wed, 06 May 2015 13:28:28 GMT<![CDATA[Reply to ATM card for kids on Wed, 06 May 2015 12:54:30 GMT]]>

bb_ mom:
I so gotta tell DC they're overpaid! DD gets $36 a week while DS gets $12.50 a week with extra $2 for lunch if he has CCA or supplementary class. Nothing during school hols, of course.


Right now, their bank accounts hold cash from all CNY, birthday red packets, savings and gift from late FIL. If we get ATM, it'll be to this pot of money! :nailbite: So no go for now...especially for DS. We're discussing this with DD as DH feels she's old enough to learn how to control her spending.
can consider opening a new children account with another bank, just to apply the ATM card and monitor whether the child is mature enough to manage the account.

]]>https://forum.kiasuparents.com/post/1501233https://forum.kiasuparents.com/post/1501233Wed, 06 May 2015 12:54:30 GMT<![CDATA[Reply to ATM card for kids on Wed, 06 May 2015 12:49:00 GMT]]>I so gotta tell DC they're overpaid! DD gets $36 a week while DS gets $12.50 a week with extra $2 for lunch if he has CCA or supplementary class. Nothing during school hols, of course.


Right now, their bank accounts hold cash from all CNY, birthday red packets, savings and gift from late FIL. If we get ATM, it'll be to this pot of money! :nailbite: So no go for now...especially for DS. We're discussing this with DD as DH feels she's old enough to learn how to control her spending.

]]>https://forum.kiasuparents.com/post/1501228https://forum.kiasuparents.com/post/1501228Wed, 06 May 2015 12:49:00 GMT<![CDATA[Reply to ATM card for kids on Wed, 06 May 2015 12:26:50 GMT]]>DS2 in primary gets $10 weekly. Additional $2 for each CCA day.

DS1 in sec 2 -$30 weekly for food only and he can still save some! I know it is kind of little for a growing boy and I want to increase but he say no need. :roll:

]]>https://forum.kiasuparents.com/post/1501219https://forum.kiasuparents.com/post/1501219Wed, 06 May 2015 12:26:50 GMT<![CDATA[Reply to ATM card for kids on Wed, 06 May 2015 12:09:33 GMT]]>Kiddos get $10/week. Extra $2 for days when they need to stay back.


DD usually spends it all. DS usually saves it all. 🤷

]]>https://forum.kiasuparents.com/post/1501216https://forum.kiasuparents.com/post/1501216Wed, 06 May 2015 12:09:33 GMT<![CDATA[Reply to ATM card for kids on Wed, 06 May 2015 11:49:37 GMT]]>What’s your Primary school kids’ allowance, buds? My daughter only asks for $1.50 on days when she doesn’t have to stay back in school, and $3 on days when she does. My son in Secondary 4 withdraws $20 every 3 days from his account.

]]>https://forum.kiasuparents.com/post/1501205https://forum.kiasuparents.com/post/1501205Wed, 06 May 2015 11:49:37 GMT<![CDATA[Reply to ATM card for kids on Wed, 06 May 2015 11:12:27 GMT]]>My DDs are in Sec 2 and Pri 6.


Both my girls were awarded the Edusave cheque. DD2 had a trust account with me. DD1 doesn't. I wanted to set up a trust account for DD1 as well but was advised that with her growing age I should consider a savings account so it's easier for withdrawal purposes in future - for tertiary or for work. The bank staff told me I could always hold on to the card if the $ was meant for safekeeping/locked savings, to which DD1 agreed.

Both girls have never asked for any extra $ despite the meagre amount we seem to be giving (because they tell us how much their friends were getting). At times I realize they purchase school needs (consumable items ie. stationery or note pads and sooo many green pens for so much correction work! Lol!) with their own money; money from whatever they saved from balance pocket money. I'll reimburse although at times they won't take it.

In my opinion, having an ATM is not the root of the matter. It's the trust and of course, the spending habits. If a child is a spendthrift, then they just need to learn with the repercussions of overspending their fixed allowance. No further ($) top-ups. No two ways about it.

They will have to learn to use it some day; somehow. Just start them on it whenever you feel comfortable. No two children are alike.

For now, DD1's ATM is used for saving from her pocket $. Once in a blue moon, she'd ask if she could get something for herself and I guide her on usage (not much to learn actually) at ATM booths and /or in shops via NETs payment.

I remember as little girls they used to say 'just withdraw from the bank' when they wanted to go out or shop for stuff. She remembers it till today. She finally understood to withdraw $, you must first have that $ in it. 😂 Her 1st experience with banking was to deposit her own cheque.

I found that having an account and ATM encouraged her to spend even more wisely than before and she's saving better as well. She still keeps up the habit since our homeschooling days where she wrote what she spent on (daily), in her journal. :love:

My girls still receive weekly cash from hubs, which is easier for them aniwaes. So for DD1, the savings account that she has now is currently more for saving purposes, instead of spending.

]]>https://forum.kiasuparents.com/post/1501194https://forum.kiasuparents.com/post/1501194Wed, 06 May 2015 11:12:27 GMT<![CDATA[Reply to ATM card for kids on Wed, 06 May 2015 10:30:50 GMT]]>I get notes in different denominations $2, $5, $10 at one go. Each time around $500 to $700 The entire stack placed inside a zip lock bag. My kids just help themselves.

Typically dd2 will take $4 or $5 daily while dd1 will take $10 daily. I don’t keep track if they take more or less. All based on trust unless they do something to violate my trust. Any left over will auto carry forward to next day.
They won’t buy nonsense stuff. Pocket money is only for food. For stationery, they will ask for my permission before buying
I will top up when they use up the notes.

]]>https://forum.kiasuparents.com/post/1501178https://forum.kiasuparents.com/post/1501178Wed, 06 May 2015 10:30:50 GMT<![CDATA[Reply to ATM card for kids on Wed, 06 May 2015 10:11:13 GMT]]>

fussyMummy:
:thankyou: Thank you very much for all of you... :please:


My DD is Sec 3 now.. she complaint a lot recently about the ATM card.. she mentioned that all her classmate obtain an ATM and can spend it wisely... 😓

I still hestitate... as DD love to buy things..tiny as a erase .. postcard.. :sad:
Typical teenage exaggeration! I just asked my daughter (sec 4) and she says only a few of her classmates have ATM cards as far as she knows. If you feel that she's not ready, you can set some future date, and then set up a bank account with only a small sum to \"try\".

Edited to add - forgot about the minimum balance. Do check if it applies to kids' accounts.

]]>https://forum.kiasuparents.com/post/1501174https://forum.kiasuparents.com/post/1501174Wed, 06 May 2015 10:11:13 GMT<![CDATA[Reply to ATM card for kids on Wed, 06 May 2015 08:46:32 GMT]]>

fussyMummy:
:thankyou: Thank you very much for all of you... :please:


My DD is Sec 3 now.. she complaint a lot recently about the ATM card.. she mentioned that all her classmate obtain an ATM and can spend it wisely... 😓

I still hestitate... as DD love to buy things..tiny as a erase .. postcard.. :sad:
I think there is no required min balance in kids' savings a/c. So by not leaving much $$ in this a/c and reminding your dd to watch the balance while you watch behind the scene, your dd may still be able to carry an atm card.

]]>https://forum.kiasuparents.com/post/1501140https://forum.kiasuparents.com/post/1501140Wed, 06 May 2015 08:46:32 GMT<![CDATA[Reply to ATM card for kids on Wed, 06 May 2015 08:30:32 GMT]]>:thankyou: Thank you very much for all of you... :please:


My DD is Sec 3 now.. she complaint a lot recently about the ATM card.. she mentioned that all her classmate obtain an ATM and can spend it wisely... 😓

I still hestitate... as DD love to buy things..tiny as a erase .. postcard.. :sad:

]]>https://forum.kiasuparents.com/post/1501132https://forum.kiasuparents.com/post/1501132Wed, 06 May 2015 08:30:32 GMT<![CDATA[Reply to ATM card for kids on Tue, 05 May 2015 14:05:57 GMT]]>

happyheart:

I give weekly allowance to DS1 since P5 and he has been managing his money quite well. He seldom asked me for extra except when he has to pay for school worksheets and miscellaneous.
expenses for school worksheets are paid in January for the whole year. everything else is paid using edusave. primary school education is cheap but it's the tuition which kills but yet can't go without it 🤷 sorry off topic.

]]>https://forum.kiasuparents.com/post/1500658https://forum.kiasuparents.com/post/1500658Tue, 05 May 2015 14:05:57 GMT<![CDATA[Reply to ATM card for kids on Tue, 05 May 2015 13:48:20 GMT]]>

TheAnswer:
My Sonny I give him weekly allowance now.. Used to be daily.. This year changed to weekly..


I give weekly allowance to DS1 since P5 and he has been managing his money quite well. He seldom asked me for extra except when he has to pay for school worksheets and miscellaneous.
This topic reminds me that perhaps it is time to go to the next level ~ ATM 😄

]]>https://forum.kiasuparents.com/post/1500648https://forum.kiasuparents.com/post/1500648Tue, 05 May 2015 13:48:20 GMT