As a mom, I feel it's important to teach the value of money to our children. With a teenage daughter who has recently started earning money from babysitting, I thought of no better way to educate her on budgeting than with a pre-paid debit card.
We did the same thing with her cell phone, which is also pre-paid. She understands that though she may have unlimited text & data, when her voice minutes run out, she will not receive a refill until the first of the following month. In the beginning it was a struggle. She would run out of minutes within a week and would fight tooth and nail to get more. And though it was hard, I stuck to my guns and within the first two months, she was allocating her time more wisely.
She is at an age where makeup and clothes are her lifeline. She makes about $50 a month babysitting for a few families from church. My husband and I have agreed that we will give her $25 a month, in addition to whatever she earns. However, like her cell phone plan, our contribution will paid out on the first of each month. NO MATTER WHAT!
When I came across Card.com with their personalized pre-paid debit cards, I was in love. Sign up takes all of but five minutes and besides a few standard maintenance fees, there are no other obligations. The hardest part about signing up was choosing the design. There are several hundred to choose from, but because it's for a teenage girl, we ended up choosing The Paris Card.
Benefits:
- No credit checks
- No check cashing fees
- No overdraft fees
- Access to worldwide ATM's
- Use wherever Visa® or MasterCard® is accepted
Interested in a personalized pre-paid debit card. Make it happen in 3 easy steps. Here's how:
- Sign up and choose a card.
- Load your card via cash, direct deposit, PayPal or your bank account.
- Spend wisely!
We're all aware of the financial crisis in the world right now, but I'm grateful there are programs like this out there that will motivate my daughter to discipline herself and learn the value of a dollar.
Have questions? You can find a list of their FAQ's here.
