Hey jdogg0812,
Thanks for the question, and welcome to Apple Support Communities.
It sounds like iTunes Store Allowance is exactly what you are looking for:
iTunes Store Allowance
http://support.apple.com/kb/HT2105
With iTunes Allowance, you can send a monthly iTunes Store credit to anyone with an iTunes Store account. It's a great way for parents to manage their children's spending on the iTunes Store, App Store, and iBooks Store.
Good to know
- Every month, the allowance amount you've set will automatically be added to your recipient's iTunes Store account.
- The amount can be anything from 10 to 50 USD.
- You'll be charged the full allowance amount on the first of each month (it'll be the same amount every month).
- You can reassure your lucky friend or family member that they don't need to spend all of the allowance each month; any remaining amount carries over to the next month.
What you'll need
- The latest version of iTunes for your Mac or PC.
- An iTunes Store Apple ID with a credit card on file.
- An iTunes Store Apple ID for the recipient (it's usually their email address).
Thanks,
Matt M.