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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
  • okierach By okierach
    on May 19, 2010  

    I think it's important for kids to learn how to handle money, and I feel like there's more connection to cash than there is to a card. I also think it helps them learn responsibility, since if they lose a twenty dollar bill, it's gone, but if they lose their card they can contact the company and get another one. I think having those consequences is important, since it teaches care for their possessions.

  • Foofie5 By Foofie5
    on May 19, 2010  

    Please I have enough problems with her cell phone. If I gave her the card she would get in the habit of thinking she can just use credit cards for purchases and in the future become out of control with cards even though it is prepaid.

  • rockin2eggz By rockin2eggz
    on May 19, 2010  

    I give Gift Cards for Birthdays/Christmas, this way I am assured that they're getting what they want and I don't have to worry about returns. The convenience is great when you have teenage grandchildren.

  • meowmeow By meowmeow
    on May 19, 2010  

    I think with cash it gives the child a more realistic view of money. Meaning- you can see it disappear. A card is harder for kids to keep track of spending and balance. It is too easy to just throw the card around to make purchases.

  • cybrown551 By cybrown551
    on May 19, 2010  

    Yes I would consider giving my teen a prepaid card because it would help me to be able to monitor their transactions better than a credit card. And having a prepaid card would also help my daughter to learn how to budget.

  • juju226 By juju226
    on May 19, 2010  

    It's easy for them to use and safer than carrying cash. Most stores now accept cards even for small amounts.

  • hellokitee By hellokitee
    on May 19, 2010  

    If your child has an emergency they may need cash because some places don't accept cards

  • niemann By niemann
    on May 19, 2010  

    I would definately consider it however the ones I have seen charge a fee each time you add money to the card so it costs about $10 in fees alone for the convenience. It would be more alluring if the fees were less.

  • meggysmaga By meggysmaga
    on May 19, 2010  

    I think this is a good way to prepare our teens for when they are old enough to have a real credit card. They will learn how quickly the bill adds up and adjust their shopping habits before they get the real one and get into trouble...or at least that is what we are striving for.

  • gramof3 By gramof3
    on May 19, 2010  

    We don't live close to any malls, so it's hard for me to say yes right now. My 11 year old doesn't realize the value of a dollar yet, so for now I have to say no. Thinking about it, tho, may not be a bad idea for her 12th birthday coming up. Then she will see how fast it goes. She knows I have a budget, & when we are done, we are done!!