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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
  • angelc999 By angelc999
    on May 19, 2010  

    I think giving them a card promotes using credit cards and you can get in alot of trouble. Cash you know exactly how much you always have

  • jb142653 By jb142653
    on May 19, 2010  

    No, but I would take my child to a bank, get him or her a savings acct w/ a debit card to teach them financial repsonsibility~& so that they don't get used to using credit for EVERYTHING.

  • azsandra812 By azsandra812
    on May 19, 2010  

    I have 2 teenage daughters and I have given one of them a prepaid card. I think she has been much wiser with her purchases since she can track how much she has on the card.

  • christyreynolds By christyreynolds
    on May 19, 2010  

    i think it is a wonderful idea, it would be easier for them to keep up with and keep them from spending thier money to fast

  • deborahkay By deborahkay
    on May 19, 2010  

    It would be a teaching tool. Cash is on the way out. Might as well get them started on the ways of the world!!

  • Donna11066 By Donna11066
    on May 19, 2010  

    I think that it gave my daughters a since of "having a credit card" so to speak. Only they couldn't go over what was on the card, so it was a way to teach them how to spend wisely.

  • BeckyJane By BeckyJane
    on May 19, 2010  

    I would never give my teenager a prepaid card instead of cash. All of my children are grown now, but a prepaid card does not teach a teenager the value of a $1. You must teach your children/teenagers how to spend their money wisely. If they are using a prepaid card they will treat it like a credit card. You can always reload them. Once the cash is gone, it is gone. They need to set up a budget as a teenager, stick to it, because once they are in college, they really are on their own, and they must know the value of a $1.

  • Twilder97 By Twilder97
    on May 19, 2010  

    the thing I don't like about the gift cards is that, the ones that are good ANYWHERE cost to buy. cost to keep, and cost to use. You lose money.

  • dwalter By dwalter
    on May 19, 2010  

    Sorry deborahkay; cash IS NOT on the way out! It is the only way to teach your kids the value of a dollar. I totally agree with BeckyJane. My kids are also grown; but I would never have given them a prepaid card. Cash in hand shows them how much they have and cards are easily lost also. When the cash is spent, it's GONE!!! Besides, if they have a card they have all their money in hand. With cash they can take just a certain amount to spend and leave the rest at home. This prevents spending all at once.

  • zenmommacarla By zenmommacarla
    on May 19, 2010  

    I have already for my 13yo son. It helps him lear to keep track of his balance and he can buy things online with my supervison of course.