By 
As a great parent, you want to be responsible and do things that will teach your children the value of money. One way that you can do this is by getting them a starter credit card.
However, this can be a bit scary, especially since you do not want your children to spend more than they can afford to spend. Thankfully, there is a great way around this.
When looking for credit cards, look for a secured credit card first. A secured credit card lets you have more control over the amount of.
You can choose how much you want to put on the card and then that creates the ultimate spending limit.
Because your children will only be allowed to spend what has been preloaded onto the card, whether by you or by them, if they realize they do not have enough money on the card, they will know they have to add more money before they use it.
This is such a great idea because it not only teaches children about the responsibility of using a credit card and only using what you can afford, but it also attaches the real value of the card to it. Many times, people will use credit cards and spend much more than they can afford to simply because they do not associate the card with physical cash. This method of using a secured card starts that type of thinking from the very beginning of the relationship with credit cards.
If you are looking to get a starter card for your child, be sure to stop in to see us today at Palmetto Citizen Credit Union. We can help you get everything set up to get your children a starter card.
Comments