I don’t have any kids yet, but I will in about 7 months and then before I know it they are going to grow up and with all that growing up, they are going to need boundaries. One of those boundaries are going to be whether my wife and I decide to give our child or children an allowance. For me, that is a long ways a way, so I don’t let my mind be consumed by that. But, maybe you are not in the same boat as me and you have children that are always begging you for money. Well, in iTunes, Apple has set up an easy way for you to set a limit on your child’s spending so that way they just can’t max out your credit card in buying movies or songs they like.
This is a short tutorial to show you how to set up spending limits on iTunes.
The first thing you are going to want to do is to make sure you have the latest version of iTunes. You can download it here if you don’t. When you are up to date, open up iTunes and look at the Quick Links in the upper right hand corner. Then look for “Buy iTunes Gifts” link. Click on it and it will take you to the next page.
When you get to the next page, scroll down till you see the “Allowances” section of the page. Click on “Set up allowances now.”
You will then be taken to a page where you can now set up an allowance for your teen in iTunes. You are able to set up a monthly allowance for your children that will be debited from your credit card or debit card. Every month that amount will now be put into iTunes for them automatically. They can even set up their own iTunes account for it.
This is a nice feature to have, and one that I think is not talked about a lot. I think the feature can come in handy for parents and can give them a great avenue to talk about money with their kids and to teach their kids how to use money wisely.
So, do any of you parents out there use it? If so, what has your experience been?