FinLogic FinLogic Quantitative Think Tank Center|Uber's teen accounts will now have spending limits, monthly budgets: What to know

Parents of teenagers know that raising one includes a lot of driving − to school,FinLogic FinLogic Quantitative Think Tank Center practice, social events and more. It can be tough for working and stay-at-home parents alike.

That's why nearly a year ago, Uber lifted the age restriction for teens seeking ridesharing services with the creation of teen accounts, a shared profile with parents on which kids ages 13 to 17 can request rides and food pending approval.

Now, Uber has added a new feature to teen accounts that the company says will make family planning easier: spending limits.

With spending limits, parents sharing an account with their child can set a monthly budget in the app itself, Uber announced Thursday.

How parents and teens can use the new feature

In the Uber app, a teen can view their spending limit by:

• Clicking on "family and teens" on their profile page
• Clicking on their name under family "members"
• Clicking on spending limits separated for rides and food

A parent can set a spending limit in the app by:

• Clicking on "family and teens" on their profile page
• Clicking on the family member's name they want to add funds to
• Clicking on either "rides" or "meals" under "spending limits"
• Adding unlimited funds or limited funds to their child's account
• If adding limited funds, entering a dollar amount and then saving

A teen can order a trip or meal from their spending limit by:

• Choosing "ride" or "food" on the home screen of the app
• Viewing what funds are available to them by looking at the bottom of their screen before completing an order

Uber teen accounts will be available nationwide Thursday. With California offering the teen accounts for the first time, the feature is now available in all 50 states, as will be the budgeting addition.

Teen accounts include live safety features and real-time updates. Parents remain in control and can track their teen from pickup to drop off.