<ul data-eligibleForWebStory="false">Setting up teens with a teen-friendly debit card and savings account is a smart way to teach budgeting, saving, and responsible spending.Debit cards help teens feel the real weight of spending and understand the value of money.Savings accounts teach patience, goal-setting, and the importance of saving versus spending.Various teen banking apps allow parents to monitor their activities while letting teens practice good money habits early on.