Is Your Teen Ready For A Debit Card?

    One of the hardest jobs in the world is being a parent. You want to raise your kids to be healthy, responsible, productive, independent and happy adults. In a world where everyone is looking out for themselves, it is important to teach your kids integrity and independent thinking that isn’t easily swayed by peer pressure.

    When it comes to giving your teen responsibilities, there are some key factors that can help you know when they are ready. Here are some things to help you know if your teen is ready for a debit card.

#1. Are they working for their own money?

If your teen is in high school and able to work a job, they may be ready for a debit card. When a teen works for their own money, it helps them to know the value of a dollar. The problem with a debit card is that it makes it really easy to spend money. The other problem is you have to keep a close watch on your account balance, so you don’t go below your balance.

#2. Are they trustworthy?

If your teen is not trustworthy or dependable, he or she is probably not ready for a debit card. If they are keeping secrets from you and not being honest with you, they can get into trouble with their account and not tell you.

#3. Do they spend their money wisely?

Spending money wisely goes along with trustworthy. If they spend money impulsively, they probably should not have a debit card. It takes time to develop a sense to wisely spend money and even adults make mistakes in this area. If your teen is careful about what they spend their money on, then they may be ready for a debit card.

#4. Do they set goals for themselves?

Another important aspect of being ready for any important responsibility, is the fact that they set goals for themselves. Setting goals, saving money, and having a plan for your future is a huge aspect of growing up and the responsibility that comes with growing up. Setting goals and working toward achieving those goals is an aspect that is vital to maturing.

    If you have a teen who works for their own money, who is trustworthy, spends their money wisely, and they set goals for themselves— your teen is most likely ready for a debit card.

    Evaluate your teen’s level on each of these points and be sure to explain the consequences of over drafting a bank account. Teach your teen how to be responsible with their debit card, only then can you ask this question!

Let’s Discuss:  Do you think teens are responsible enough to have their own debit cards or credit cards?

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  1. Being a parent must be difficult I am not a mom and I cannot imagine trying to figure out when to give my kid a credit card. But I do appreciate this information I guess building trust and responsibility is key.

  2. It is a norm here in South Africa to get a child a debit card as soon as possible. The tough decision is, at what point does the parent relegate the use of the card to the teen?

  3. I think these are important things to consider and it’s good to educate the kids on how to use credit responsibly beforehand. I think my kids got their first credit cards while they were in college.

  4. I think debit cards are a great way to start out kids on money management! I know my sons have started to ask about their own bank accounts as well.

  5. Great tips! I agree with your points. In my opinion teens are ready when they show responsibility of how they use and solve money situations. I gave my daughter a credit card when she was a teenager and I was glad I did.

  6. Neely (@Neelykins) says

    Such great thought points and information. I think I had a debit card WAY too young. I mean its good and bad responsibility wise.

  7. These are great points for consideration. I remember having a debit card pretty young, but I had a paper route and was babysitting pretty young as well so my mom taught me to manage money pretty early.

  8. Number one is huge in my book. My bank wanted to give my son a debit card attached to my bank account that I could fund. I was like….um….no!

  9. I personally will not allow my child to get a debit card in my name or not. I will let them once they are 18 and have a job, in their name. But, this is good for those teens who work and need a place other than their wallet to put the money.

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