Dollars and Sense!

[ 0 ] July 10, 2012 |

What age should kids have a debit card?

I’m not sure if there is a correct answer because it will be different for every child!  It will probably depend on the parents’ comfort level and trust, and also the interest the child shows in earning money, saving and spending responsibly.  My oldest daughter is going into high school this fall so I thought it would be a good time to show her how to properly use a checking account and debit card. 

  • First I sat down with her and reviewed her Dollars & Sense checking account information and reinforced that she does not transfer or pull from her savings account to put into checking.  Money in her checking account is from what she earns and still 20% of earned money goes to savings.
  • Second I reviewed with her how to handle her card to keep it protected from incurring any fraud and stressed how to keep in safe in her wallet!
  • Last I talked to her about how to balance her account by keeping receipts from purchases to then come home and write it in her register to keep track of what she has left in her account.

When you stop by our credit union or watch us on Facebook and Twitter, you may hear us talking a lot about Dollars & Sense accounts thru the month of July!  We want to make sure our D&S group is well informed on the different products that can move them towards a successful financial future!  D&S is for 13-22 year olds trying to build credit and get their ‘feet wet’ with a debit and credit card.  Check it out!  www.iaacu.org

Tags: , , , , , , , , , ,

Category: CU News

About the Author ()

Hello! I have been with IAACU since August of 2011. I am a Member Development Rep. You might have talked to me a few times on the phone or through e-mail.

Leave a Reply

Time limit is exhausted. Please reload CAPTCHA.