Comments on: Faux Debit Cards for Kids

By: cdiver

cdiver — Tue, 01 Jun 2010 15:42:40 +0000

I have a great CD wallet from one of these promos. No longer listen to cds but still feeling the pain of my lack of education at the time.

By: cdiver

cdiver — Tue, 01 Jun 2010 15:40:59 +0000

I think this was a good way to learn about both using a debit card and cash.

By: echidnina

echidnina — Tue, 01 Jun 2010 15:25:38 +0000

Heh, cute. I think I started getting an allowance around 12, and when I turned 16 my parents gave me a Visa Bux debit card – a card that they loaded for me. They let me decide whether I wanted to get my allowance in cash, or have it put on the card for stuff on Amazon & the like. I think it was a good way to develop some money management skills – it’s a debit card, so you can only spend what money you have, rather than buying on credit.

By: Mister

Mister — Tue, 21 Jul 2009 00:54:23 +0000

Face it folks….just like the 33 LP records, and the milk man. Cash, and paper checks are going away. By the time your 10 year old is grown, a PC and Plastic will be required to make any purchase….hello? is this thing on?

lol
Have a blessed day!

By: Sylver

Sylver — Sun, 17 May 2009 06:09:55 +0000

Believe it or not, debit cards are often offered to teens here in Germany by individual banks – not credit card companies. This card cannot be used in shops but only to withdraw or deposit money in the account. In using the debit card withdrawals cannot exceed the debit accounts balance so allowances, once money is transferred into the accounts has to be lived with. A child cannot overdraw his or her account.
Financial responsibility, especially the importance of saving, is taught from kindergarten age upwards in the home and encouraged by the banks. (October is World Savings Month! Even small children are encouraged to save their pennies so they can receive a prize from the bank when they deposit their money into a savings account during the month of October.)
I do agree that financial responsibility should be taught at an early age. Basic courses in simply accounting (how to balance a checking account, how to keep track of credit card purchases) should be taught in the schools along with any other math courses, not as an elective but as a standard course.

By: beerconsumer

beerconsumer — Thu, 16 Feb 2006 17:29:12 +0000

Worst thing I ever did was sign up for a credit card for a coffee mug. I could of used an education on credit when younger.

By: jim

jim — Thu, 16 Feb 2006 01:55:34 +0000

Hahahaha, I just felt an irresistable urge to cut up all my credit cards.

By: Bald Man

Bald Man — Thu, 16 Feb 2006 01:35:13 +0000

I’m going to use an alternative plan: Brainwashing my kids to NEVER, EVER, EVER, NEVER, EVER, NEVER, EVER, EVER BE SUCKED INTO THE VORTEX OF DESTRUCTION COMMONLY KNOWN AS “CREDIT CARDS!”