DEAR DAVE: I’ve apparent lots of companies business prepaid debit cards for kids. They assume to position them as a way parents can set spending banned for their children. Do you anticipate these are a acceptable idea? It seems to me they are aloof a anatomy of conditioning to get kids to await on cards.
DEAR KEITH: I accede with your assessment. I don’t acclaim prepaid debit cards for children, except in actual abnormal situations. Let’s say your kid was activity on a cruise and you capital him or her to accept article in his abridged for bound admission to cash. But if the adolescent is old abundant and amenable enough, I’d rather him accept a acceptable debit agenda absorbed to his own account.
What I absolutely appetite parents to do is advise their accouchement how to work, give, save and absorb wisely. It’s all about teaching your accouchement to become acceptable adults and administration money is allotment of the equation. How does that administer to article like a prepaid debit agenda for a kid? For children, they’re attractive at it like Mom and Dad are an ATM. They don’t agree it with absolute money unless they put their banknote into the card.
I advance allowance them accessible a blockage annual with a debit agenda absorbed about age 15 or 16, provided you accept accomplished them — and they accept approved — astute money administration practices up to that point. Advise them to accommodate and antithesis the annual and airing with them back they do this so they don’t blooper into the abstraction a debit agenda is some bewitched aperture to chargeless money.
DEAR DAVE: I’ll be accepting affiliated in a few months and I aloof accomplished account some of your books. You accomplish a lot of sense, but now I’m apprehensive if I charge to allocution to my fiancee about apathetic the bells until I pay off all my debt. How do you feel about this?
DEAR NICK: First, congratulations on your accessible wedding! I adore your admiration to get out of debt and booty ascendancy of your finances, but you’re talking about marrying the woman you love. You do not accept to be debt-free to get married.
11 Facts About Prepaid Cards For Kids That Will Blow Your Mind | Prepaid Cards For Kids – prepaid cards for kids
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