Debit cards & debt

I recently stumbled across an article advocating debit card use as a means to avoid credit card debt. I agree that learning how to use a debit card is certainly good and a great alternative to credit cards, but I'd like to make a few suggestions to parents who are teaching their children about money.

Young people need to learn how to demonstrate positive money management. In addition to teaching a young person how to successfully use a debit card, young people need to understand the big picuture of money. Mom and dad can monitor debit card use all day long, but credit cards are very tempting, and seemingly harmless, to young people.

Junior doesn't need permission to sign up for and spend on a credit card while mom and dad monitor and approve of how he or she is doing with the debit card. It's important, in addition to promoting debit card use, to work with your child on understanding the big picture of money. Help them understand why the temptations of credit cards are not worth the set back that high interest debt can cause. Help your child understand the big picture of money in order to be successful with it in the short and long term.

Comments

[California Satellite Tv.]

I hate debit cards. Bad enough credit cards let people sign up useing your identy now they want us to leave are bank account open for the same thing.

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Debit cards are the worse thing. I opened new bank account they would only give me debit card told them do not give me one i will use checks.

Take a good look at the fees they kill you with a debit card.

[Legal Free Music Downloads.]

Debit cards are the worse thing. I opened new bank account they would only give me debit card told them do not give me one i will use checks.

Take a good look at the fees they kill you with a debit card.

[keith]

Sorry did not mean to post 2 times site broke down then refreshed it.

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Do not like debit cards or the way the fees are on thier use.

Would never use one way to much opportunity for someone to clean my bank account out.