I the mom of 3 babies.Well, two teenagers and one little 10 year old princess,lol. I like to think that I have somehow taught the lot of them about spending and saving money . My kids have their own credit/debit cards,too.Yes,even the 10 year old. BUt it’s not just any “I can buy anything and everything in the world ” card.No WAY,LOL!! It’s a prepaid card,and it’s by “Bill My Parents“. I like this card because not only is it PREPAID,but I am in charge of it’s every penny spent.I can suspend the card,add money to the card,or completely cancel it…at any time just by using my cell phone.The Bill My Parents card tracks every purchase made when you child uses it,and sends you a message as soon as the card is used.I love it because I know that my kids can get what they want and I can upload their allowance (if the earned it) to the card and when the money is used up,I don’t have to worry about overdraft charges OR BILLS!! Plus,it opens the kids up to budgeting,keeping track of track of their expenses,or they get to know the benefits or uses of credit cards.
I not saying that everyone should have a card,but if you think your child is ready and you want to not worry about the ,”I lost my $5 dollar bill” thing,you should try it.Let me know if think this is a good or bad idea and be entered to win Gift Card for yourself ! Just leave your comment on this page and I will choose a winner July 13,2012 ! Thanks for reading !!