Bank accounts and learning to manage money

[Grace2232]

Hi. My daughter is a young adult with a learning disability and she is struggling with money. She has a bank account (that doesn’t have much money in there, it is just for her to use - not pay bills or anyting ) and the plan was for her to learn how to look after her money.

However, she keeps spending more that she has and being charged for it.

Does anyone know which are the best banks for someone with a learning disability? I’d like one that simply won’t let her spend money she does’t have. Someone we know mentioned Natwest.

Also, if you have any cunning plans about how to help my daughter that would be great. I have to admit that money management is not my strongest point (she's probably inherited it from me)

[RobertPicken87]

Hi grace,

Maybe talk to the bank? Explain the situation (most banks are understanding, mine was) maybe they can put a cap on your daughters spending limit? At least if that was an option she could spend a certain amount per week/month

Hope that’s helpful

[Sunbeam2]

Hi , My daughter has a bank account with Lloyd’s which her money goes in each month, I have control of this account. Nicky also has a savers account and card which she can only draw out cash this is with the same bank. I set up a direct debit to the savers account for My daughters spending money each week. I then bought some small envelopes , my daughter then puts 20 pound in each envelope for each day. She is told she can only use one envelope a day . At first my daughter did over spend but when she asked me for more money I explained her

Other money is for her bills and saving. If she needs or wants anything like new clothes etc I do give her the money. My daughter is saving well this way and it is hard to say no but she is understanding why. Hope this helps x

[Sarah_Mencap in reply to Sunbeam2]

The envelopes are a great idea.

[Hello1959 in reply to Sunbeam2]

What a great idea and would help many I would think .