Debit Cards for Kids

If you find yourself out and about these days and especially if you’re in a shopping mall, you’ll see a lot of teenagers using credit cards. They’re very comfortable using them – a little too comfortable if you ask me. But that’s because I worry about the bad spending habits they might be building. When credit cards aren’t used carefully they can easily lead to debt.

Prepaid debit cards are a much better alternative for youngsters. They perform just like credit cards in all the important ways. For instance you can use them online to make purchases. You can go to your bank teller or ATM and withdraw cash if you need to. Oh, and yes, you can use them easily at the mall.

What these reloadable cards won’t do however is lead you down the road to bad debt. You see prepaid cards must be filled up with cash before they can be used so there’s no chance of overspending what you don’t have. Compare that to credit cards which allow you to spend money you haven’t even earned yet.

Plus, when you use a debit card you tend to value your money more. You’re less likely to spend it on frivolous items and more likely to save it up for things you really want or really need. That’s what makes debit cards for kids such a great idea because they build strong spending habits. And those habits will serve kids well for their entire lifetimes.

So if you have a youngster in your family that you think is ready to start handling money on their own, start him or her off with a prepaid debit card. They’ll get a whole lot of spending freedom and at the same time they’ll learn how to spend wisely. And you’ll have some peace of mind too.

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