One of the ways I help my kids obtain financial freedom is by providing them with a prepaid visa card. They can make purchases at the stores, buy gas, and even online purchases without having a bank account, or a credit card.
The prepaid Visa card is like having cash, and for me it is like having a monitoring service. I will have a record of where and when they spend the money, and can relax knowing that I could reload the card whenever I am at the grocery store. It’s wonderful not to have to worry about them taking on the responsibility of credit card payments, or the need to have a current credit history.
2 Comments
Wonderful idea and much easier to monitor than cash spending.
ReplyDeleteWe will see, I don't know any kid that hasn't gotten in trouble with money yet...
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