Plastic for Teens?
As you all know I am a big advocate of PayJR Visa Buxx. I definitely think it is a great resource for parents since you allow your kids to have freedom in some issues but you can also be a parent and monitor them block stores, transfer money etc. The best part is they don’t get themselves into debt.
Now as much as my parents tried to teach me how to stay out of debt. I didn’t have much of a choice I was out of work, had a hard time getting a decent paying job and had to pay for necessities on the plastic. I am in horrible debt as regular readers know but I am getting out of debt the best and the fastest way I can. Granted I am paying tons of interest but I am the horror story you tell your kids.
In this MSN Video I watched it shows out a teenager feels having a debit card. Now I had a full blown debit card with a checking account as soon as I was 16. I was also working and didn’t have an allowance. I started working when I was 14 and thats when I stopped having an allowance. The video is good but the teenager is still doing chores for money, the mother explains there are one time chore set up so when she completes them doing some gardening gets her $5 and vacuuming the house gets her $10.
Teaching your children the important of plastic I think is key. I meet a lot of people who don’t even own debit cards they will only use cash. I don’t think having fear of credit cards and debit cards is the thing. I think having will power helps a lot more. Do think it is good to fear it?
I want to know even if your kids aren’t at the age yet, when they get older to understand debit/credit would you get them a PayJr. Visa Buxx card and if not why not? How are you going to teach them the importance of credit and responsibility with their money?
I think I will get a Visa Buxx for my kids, I don’t have kids yet but I think I will. I mean I really want kids I even set up a savings account for them now I put in a little bit each week for my future children. Why because of complications, or things we may need. I think it is really important to plan for your future. Act as if till you become as you act.
I plan to get it for the boys when they reach 13.
I really wish I could get it for them now.
Thats really good. Since money gets lost but you can report the card as lost or stolen. I don’t think anyone will replace your cash if you lose that
I don’t think that plastic is the importance I think it is what the parents teach their children that is!
I agree to an extent Maggie, not only is it what we teach our children. But from personal experience my parents taught me everything but life got the better of me.
I have a feeling we’ll be getting into debt with the card hubby just got. But this seems like a great way to teach kids how to spend wisely.
Plastic for children? No. Teach them responsible spending habits and the importance of “if you can’t pay cash then maybe re-think the purchase” – they’re kids so they’re not shopping for mortgages. This cannot be where we’re heading, is it?
Teaching teens how to handle money is important and not something they are likely to learn in school. If you teach your children smart ways to manage money, it will help to ensure they get the right start and don’t wind up with bad habits.