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Unfortunately, many teens receive little or no credit education, despite parents’ awareness that money talks are so important.A recent Credit Sesame survey revealed that nine out of 10 parents talk to their kids about other money topics.
Those additional charges are made up of money that would be better off in your (or your teen’s) pocket. But before he leaves home and strikes out on his own, Junior should already know what it feels like to make charges on a card and then pay them off when the bill comes.
Even if you’ve fallen off of the good-credit-behavior bandwagon (or missed it the first time around), jump back on and review credit basics.
If you play your cards right, your own credit score will go up as you help your teen to establish one of his/her own.
One of the best prepaid debit cards for teens is from Fam Zoo—a company dedicated to making fun financial education products for families.
Both you and your teen will get a prepaid debit card.