T is going to be 14 years old this summer and after always finding her saved money laying around the house or coming out of jean pockets that were just washed I knew it was time to find an alternative to cash for her spending money.  A better way for her to save, be responsible and keep track of her spending.  T is a tremendous help around the house and does her share of chores to say the least.  Being a single mom there is always more to do than I can manage and T has really stepped up to the plate to help me.

In our house we have never truly stuck to a plan of a set allowance.  Instead of giving T a specific amount of money each week I’ve always just supplied her with her needs and wants, within reason.  If I have some extra money and I know T deserves something extra special then I’ll take her to get her nails done.  I now allow T to dye her hair so that’s another added expense that is only a mere want not need.  Same goes with her iPhone and new cases and her very expensive reading habit, that girl can fly through novels which adds up if you buy them.  In teaching teenagers responsibilities and how to manage money I know it’s important that she learns more about the cost of these items and budgeting.

When SheSpeaks approached me about a debit card for teens that you can manage online as their parent, I was intrigued to hear more.  T has a savings account but managing money by visiting the bank regularly isn’t realistic.  When I was asked if I would be interested in sharing with my readers the new PASS card from American Express and how you can receive $25 free, I knew you would love it.  What teen can’t use $25?

Information about PASS Card from American Express:

• Prepaid/Re-loadable card that can be used anywhere that accepts American Express
• Parent and Teen can both track spending using their own logins
• Parent has full control over deposits and money in the account
• If card is lost or stolen all funds are replaced
• You can setup auto-deposits if your teen has a set monthly allowance
• Teen can not overdraw the account
• The monthly fee for the PASS Card is waived until October 2011, so you can try it out free
• After October 2011 the fee is $3.95 per month which includes online access to budgeting tools.

I went through the process of ordering T a pink PASS card and preloaded it with the $25 minimum to receive the free $25 special bonus.  She was so excited to receive a card in the mail to use to pay for her own hair dye and nails.  It makes her feel more responsible.  She also knows how to track her spending online.  The account helps her see what she is spending her money on and be able to better budget, unlike with cash.  This way she gets a clear picture.

Get an extra $25 when you load your PASS Card

• Go to www.AmericanExpress.com/PASS register for a card (FREE until October 2011)
• Use the code SS25 to get an extra $25 automatically loaded onto your PASS Card!
• You can cancel at any time, if you decide the card is not for you.
• The code expires April 15, 2011

Full Disclosure: I was compensated for my time sharing this information with you.  All opinions are 100% mine.