The bank hopes that the new card and app are a slam dunk for parents teaching their kids about financial literacy.
BANGOR, Maine — Parents now have one more tool to help teach their children about personal finance with Bangor Savings Bank’s new pling card.
The teen-centric debit card is designed to work hand-in-hand with the pling app.
The app has features for both parents and kids. For parents, they can track purchases and set restrictions for what their teens can and cannot spend money on. For kids 13 and older, they can practice budgeting as they use the card.
The bank is partnering with Maine’s own basketball superstars, Ace and Cooper Flagg, to promote the new card.
The brothers have both grown to fame for their sports prowess, acquiring brand deals and accolades.
In a press release from Bangor Savings Bank, the brothers touted the value pling brings.
“We’ve always valued the importance of being prepared both on and off the court,” Cooper Flagg said. “pling is a great way for teens to start taking control of their financial future, and we’re excited to help spread the word in our community,” Ace Flagg added.
Laura Blake is a regional market manager for Bangor Savings as well as a mom and is using pling to continue teaching her daughter.
“She loved the notion that she got her own card, and it had her name on it,” Blake said.
Blake enjoys seeing in real time what her daughter spends her money on and using the restrictions to prevent spending on online games.
However, financial planning should not end there, Bangor High School teacher Stephen Riitano says. He encourages his financial literacy students to continue money conversations at home.
“Sitting down and having a conversation with your child about what needs you have now and how can we start having conversations now about how to invest in your future,” Riitano said.
Parents can sign up for pling by downloading the app and should expect their card within 7-10 business days. However, Bangor Savings Bank officials do encourage parents to visit their local branch if they have any questions.
For more local stories continue with us on our NEWS CENTER Maine+ streaming app.
