PayPal, Parents Teach Teens About Spending with New Student Account

PayPal has recently launched a new feature for parents to help teens to learn about money and proper spending habits. A parent with a PayPal account in good standing can sign up for a student account from PayPal. The sStudent account from PayPal is a sub-account of the parent's master account through PayPal. The new PayPal student account offers many useful features for both the teen and the parent.

Learning Limits

The new PayPal Student Account allows teens to learn about spending limits. While the teen is making a purchase online or at a retail store, for example, they are able to practice good spending habits. Mom or Dad can be notified by PayPal if the balance in the account drops below a specific limit or if a transaction was higher than a limit previously denoted in the account settings. Teens will have the freedom and independence they desire and need at this age while parents are able to safely monitor the child's spending habits through the PayPal Student Account. Parents and teens can openly discuss appropriate spending limits for specific transactions and create a dialogue about spending habits and the best ways to use money.

Online Shopping

Tired of your teen taking over your credit card or PayPal account any time he or she wants to purchase something online? A PayPal Student Account might be just the right answer for your family. Opening your child, age 13 and older, a Student Account through PayPal could remedy this situation easily. Your child can now shop safely online with all the conveniences and safety associated with PayPal without having the trouble and inconvenience of using your credit card or PayPal account. Let your child learn how to manage their own money while shopping online. Parents will know the child's money is safe and the transaction is secure while the teen learns to monitor their own finances while shopping online.

Shopping Around Town

Teenagers don't just learn about shopping online with the PayPal

Student Account, they also can practice managing their money while making purchases around town. Parents can teach their teen to use a debit card safely by teaching the teenager to keep the card secure and private. The PayPal Student Account can be accessed with the free card that comes with the account. Now, your teen can buy their own clothes or pay for gas while on their own and you can safely monitor their spending.

Alerts

Parents should not be too overly concerned about their child overspending with the Student Account offered through PayPal. With good communication at home regarding money and good spending habits, your teen will have a good basis to spend and save money. For safety's sake, parents are allowed to view balance information on the child's Student Account and can set up alerts to be notified under certain situations. A parent can be notified by email, for instance, if a child has sent a PayPal payment to someone or if they have spent too much money on a particular transaction. Such alerts offer a great opportunity for parents to address the situation quickly and discuss options with their teen.

Free Money

For a limited time, parents can sign their child up for a PayPal Student Account and get free money. In the current economy, everyone could use a few extra bucks. Sign your child up today for a PayPal Student Account and receive $10 to spend and start the lessons and learning about money quickly and easily. Check the PayPal website for all current details.

Teaching a teenager how to safely spend their money is a tricky job. Assist your child and allow them to learn about spending limits and responsibilities with the help of a new Student Account from PayPal.