Plastic money in the form of a prepaid card is the modern way of
giving pocket money to teenagers now that digital payments are most widely
used. Most reputable online financial service
companies like TotallyMoney offers prepaid cards and information on other financial products
to help you find the right one suitable for your need. The prepaid card is a type of a debit card
where you can allocate monetary allowance through uploading funds onto it and
is especially designed for children with ages under 18.
If you are a novice in availing financial products like prepaid
and credit cards, don't be afraid to compare credit cards online. It is best to take advantage of the free
services of online financial institutions to get informed accurately on the
up-to-date best credit and prepaid cards in town through comparison.
The art of money management is best recommended for children to
learn in the earliest time possible. How to make a financial plan in the simplest
way possible like for instance letting them understand the difference between
wants and needs. Making them aware that the funds transferred to their account
comes from a hard earned money that is also listed in the family’s weekly
budget. In this way they will be
encouraged to make better decisions on how to spend the daily or weekly
monetary allowance they receive from us their parents, thus will also persuade
them to be responsible in money handling as they keep track on their remaining
balance. In order for their funds reach
their one week expenses, they will be aware of the significance of wise
spending, thus we can be able to control our youngsters unnecessary
expenditures.
One of the many benefits a prepaid card can do is giving us a
peace of mind for it would be safer for our kids to bring along plastic money
with them instead of cash. No need to worry in case the card get lost or
misplaced, by merely reporting the lost card to the credit card company, funds
will be secured through automatic account freezing. Moreover, should a need of unexpected
expenses arise such as buying a needed reference book, it would be easy for us
parents to just add the necessary amount needed to the prepaid card by doing
money transfer transactions at a local
bank or through online banking.
This is awesome idea. As an adults or a parents out there we need to teach our kids to save money. In this way, we can help them in their future to budget in an early age..
ReplyDeleteI need to do this soon, my oldest is going to bigger school this year and she needs to spend wisely....
ReplyDelete