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Would you consider giving your teen a prepaid card instead of cash?

Teens seem to have things they want to buy...ok, many things!  As parents, we want to give our children money but, also want to balance that with building responsibility and also ensuring security (has your teen ever lost the cash you gave them?!).  Would you consider giving your teen a prepaid card instead of cash?  Why or why not? 

Please tell us what you think.  We want to know!

Yes (78.2%)

No (21.8%)

Would you consider giving your teen a prepaid card instead of cash?
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78
  • garzamommie By garzamommie
    on May 19, 2010  

    I would except I am not going to pay the fees associated with the prepaid cards. That does not teach responsibility. I am however considering getting a bank account with a debit card in my name for our son due to the fact banks will not let kids under 16 have an account.

  • mdesourdy By mdesourdy
    on May 19, 2010  

    this way I could keep track of her spending, plus it will allow her to learn to budget her money

  • dawnfluharty By dawnfluharty
    on May 19, 2010  

    I think you are teaching your child to depend on plastic! And we need to learn to go back to CASH, Not Plastic weather it is pre paid or not

  • gardengenie By gardengenie
    on May 19, 2010  

    A prepaid card allows me to determine where my teen shops. Cash doesn't give me that same kind of control.

  • 3xalady By 3xalady
    on May 19, 2010  

    It gives me a peace of mind knowing that she won't lose her money or anything else. You can easily cancle the card and she can buy what she wants or needs.

  • traceyk By traceyk
    on May 19, 2010  

    I think it's a great idea.

  • thinkpink92 By thinkpink92
    on May 19, 2010  

    We've already been giving our teen daughter prepaid cards and she tends to budget her money better when she's using her card instead of cash. When she had cash and would go shopping, she'd usually come home with nothing. When she has her own prepaid card, she shops more wisely and is a little more picky about the prices of what she spends her money on. She likes to leave some money on her card so she can go back for another shopping trip. I was really impressed with her when she came home with bag that contained a few really nice shirts that were all bought on clearance. She got some really great buys, very nice shirts and still had money left to spend on the card. She had a great shopping day!

  • rmc1ra By rmc1ra
    on May 19, 2010  

    My preteen loves prepaid cards as long as they are VISA/MASTERCARD/AMERICAN EXPRESS or one of her favorite stores.

  • chertle By chertle
    on May 19, 2010  

    I don't like the fees that always seem to be involved with prepaid cards. Sometimes there is a lot of fine print and red tape. In these times I don't need to give any of my money away to some big company with hidden fees and service charges.

  • BeenThereDoneThatMom By BeenThereDoneThatMom
    on May 19, 2010  

    I already do this for 3 of my 4 boys for allowance. It works great. www.BeenThereDoneThatMom.com