WHAT ARE BEHIND CREDIT CARD FOR CHILDREN?
Posted on July 1, 2010
Filed Under BIZ' X-CARD | 1 Comment
Giving a credit card to children is an extraordinary trust and responsibility training both for parents and for children themselves. To equip a child with the credit card does not hurt, just from one side to give a positive thing because it can train the child to manage his/her finance.
But there are some noteworthy things that parents will equip their children credit card. Of course, it appears caused by everyone has different view about the provision of credit card as supplement for the child in adolescent. But the majority of parents agree that their children should learn to be independent. Since early they were taught to save and create a budget and, if necessary, be able to earn their own income. One way that can be achieved in teaching children is how to manage finance by providing a credit card.
Large profit from credit card is to avoid the risk of carrying too much cash.
Via credit card, we can also control the spending and our child’s ability to manage credit card. We can view the transaction that they do through a monthly bill, so we can also see the habit of our child and thus find out what problem might arise in the future.
Based on that information, parents can talk with children about the correct ways of using credit card, before they have it themselves later on when to have own income.
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Agreed! I have no kids of my own, but if one of my parents would of taught me the concept of credit and credit cards i would have more financial stability now in my mid 20s.