Growing up and getting started with money
There’s a lot that changes when your child turns 12.
They start secondary school, get more freedom, and have more responsibility as well. They find themselves in new surroundings with new friends and new habits, and there are more moments where money is involved. These might be lunch breaks, day trips, public transport or small purchases while they’re out and about.
That makes it the ideal time to take the next step in handling money together.
At this age, your child increasingly wants to make their own decisions.
More freedom and more responsibility
What to buy? When to save? How much to spend? It's all part of becomingmore independent.
Maybe the money runs out faster than planned, or perhaps it was saved for something that turned out not to be so important after all.
From pocket money to managing their own money
Pocket money may have been tangible in the past, but money isincreasingly digital these days. Your child is faced with making payments in shops or at school, they might have bought something online already, and they’re learning to receive or transfer money to others.
Cash is still useful for maintaining a sense of what money is worth. Digital money, meanwhile, provides convenience and insight.
The combination of both will help your child have a better idea of what they’re doing with their money.
Ready for their own account
This is theage when a young person’s account is often a particularly good idea.
The KBC young person’s account (10-24 years) is free of charge.
Your child receives:
- All the benefits of the KBC Brussels Plus Account free of charge
- Comes with a debit card, mobile banking capabilities and free cash withdrawals
- KBC Brussels Mobile has a handy dashboard for parental supervision
This keeps things familiar for your child while slowly increasing their freedom.
Learn about digital banking your way
You can use the ‘Parental Supervision’ Dashboard to teach your child how to handle money matters without you having to worry about things. You are the one who decides what your child can do with the young person's account.
- Select the ways your child can make payment.
Decide whether your child can make their own payments and whether they can pay contactless, with or without a PIN, with KBC Brussels Mobile, with a card reader or with itsme®.
- Set payment limits and cash withdrawal limits (temporary or permanent).
Set the maximum amounts your child can spend or withdraw from an ATM per day or per week. You can also decide whether your child can make payments abroad or online.
- Monitor your child’s income and expenditure.
Keep a parental eye on things by monitoring how much money your child receives, spends or withdraws. If their card gets lost, you can also block it remotely right away.
