I saw a post over at AllThingsFinancial about giving a 10 year old a debit card  and I thought in principle it’s a good idea, in practice though it could be a disaster. The article itself is about JLP’s allowance policy and how he believes it’s more important to teach kids about real money instead of plastic (I agree) but I think that education on credit does have it’s place at an early age. It’s important to make the link between a credit/debit card and real cash, that is they should be treated as one and the same. Why not give your child a faux debit card, instead of a real one that they can lose, that acts like a real credit or debit card? Feel free to use my MS Paint debit card below as a starting point. 🙂
Print that baby on some cardboard stock paper and they’ll be ready to swipe in no time!