[rytor718]

I see your point. But I think this is why I don't think either giving a kid a savings account nor a debit card alone teaches them anything. That said, I think a savings account offers much more valuable lessons to be learned, or at least it did for me growing up.

I saved money all the time as a kid because I was taught that saving is good. One of the first accounts I got was a savings account. However, I soon learned that I needed to access that money so I got a checking account and started to divide my deposits between each. And on and on, you get the point.

To this day I keep a cash savings -- I need it. Yes its not earning as much as my other investments, but I don't need it to. I need liquidity and I value being able to pull large chunks of my hard earned money from the bank to do a miriad of things: spontaneous vacation, buy a car, medical emergencies, etc.

I think both devices offer something to youth. However, it seems like giving kids debit cards leans in the wrong directions as far as valuable life lessons. I don't want my kids learning to spend their money. Kids are already great a spending my money. They need to understand how money actually works (beyond spending).