Health & Fitness
Plastic is the New Paper : Cards and Kids
Your child has just returned home from babysitting on a Saturday night with eyes and pockets bulging -- she made bank! Time to develop the habits she will use when the paychecks begin coming for real and talk about some to save ( see Savings Habits--Born this Way ), some to spend and perhaps some for charity.
While depositing the proceeds from the tooth fairy may be pushing it, if Grandpa slips your child $20, this is a teachable moment. Learning about finance doesn't get more real than taking cold, hard cash in hand, depositing it into the bank and walking away with your bank card. Understanding that debit cards and gift cards really equate to money is a great way to prepare for the responsibility of using credit cards wisely.