Card issuers are hoping to tap into teen spending, which totals about $175 billion the images of such pop icons as Usher, Hilary Duff and Hello Kitty. Card issuers promote these prepaid debit cards as credit cards with training wheels, so that kids Parents don’t want to send their teenagers unprepared into the wide world of personal finance, slapping a credit card into their hands and watching them ruin their credit scores before they turn 18. Many responsible parents give their responsible It's easy to see the appeal of prepaid debit cards for people with teenage children. They make it possible to track spending, can be used anywhere, are safer than cash and teens can only spend what's on the card. What's more, the cards, some decked out Whichever method (prepaid card, checking account or student credit card) you decide is right for your teen, discuss finances regularly and openly. A card cannot teach good money habits — only you can. Discuss your options with your teen, and decide what The prevalence of gray charges stems from consumers' increasing preference to use debit and credit cards, as well as making online purchases. (Photo: Thinkstock) The most dangerous part about handing a teen a prepaid card, say something like the plastic Think back to your early teenage years. What did your parents or guardians do to teach you about managing money? Maybe they set you up with an allowance. Maybe they sat you down and gave you the "money talk." Or maybe they invited you to sit in on family .
Would you give a teenager a prepaid card? It might sound like a questionable move, what with many young Americans struggling with debt. In fact, according to a recent survey by PNC Financial Services Group, millennials between the ages of 20-24 carry about With two teenagers in the house, my wife and I spend a considerable amount of time discussing family finances. And for this reason, a recent article by Sheryl Nance-Nash caught my attention. In the article she argues that prepaid debit cards are a bad idea LOS ANGELES, Nov 21, 2014 (BUSINESS WIRE) -- Virtual Piggy, Inc. (otcqb:VPIG), provider of Oink, the award-winning online payment technology for families and teens, today announced that it has launched the Oink Discover prepaid card, a physical extension JUSTIN BIEBER earned $55 million in 2012, according to Forbes, but in new videos for the SpendSmart Payments Company, which offers a prepaid debit card for teenagers, the singer talks about his modest upbringing. “You know when I was a kid, we didn’t .
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