Prepaid Debit Card
My nine year old son is starting to get his independence. He wants to start carrying his own money in his pocket, and I want to give him this opportunity to start learning responsibility. But I need to find an alternative to cash. After some searching, I think I may have found what I am looking for, and its called AchieveCard.
This happens to be a much safer way for my kid to carry cash. The card is a reloadable, prepaid debit card that can be used anywhere that accepts MasterCard. In short, this is simply a Prepaid Mastercard. The best part about it is that I will still be able to control his spending because the card will not allow him to spend more than what is deposited just like a Prepaid Debit Card.
I think the most feature of this card is the fact that it will teach my son financial responsibility at a young age (at least that is what I am hoping for). I know so many people that have been adversely affected by the horrible financial decisions they had made when they were young adults, that I figure the early head start my son will get in financial responsibility lessons should make him understand the importance of spending wisely. I think Prepaid Credit Cards are great, but I also dont want that to be the only financial tool he can get because of past mistakes. This all important lesson is something that he should start practicing at an early age.