Debit Cards: The Next Step in Money Management
If your kids are beyond the excitement of putting coins into their piggy banks, how about moving on to some plastic? That's right; your teenagers might be ready for a debit card.
Debit cards are similar to credit cards in how they look and how you use them. But when you use a debit card, the money comes out of your checkbook instead of becoming a loan, like credit card debt. By showing your teens how to be responsible with plastic now, you could be saving them from some poor money choices in the future.
Personal responsibility is one of the first lessons kids will learn with their debit card because there's a limit to the amount of money in any account. Keeping track of expenditures and deposits are just the beginning of their financial education. If you think your teen is ready for a debit card, call your credit union today.
Copyright 2008 Credit Union National Association Inc. Information subject to change without notice. For use with members of a single credit union. All other rights reserved.