Teaching Teenagers How To Budget

REVIEWS | | March 5, 2009 at 5:02 pm

These days the words financial and banking are met disdain and trepidation. But when your teenager thinks budgeting is something you need to do so she can get her favorite gear on time it is time for a reality check. How do make a teenager understand the gravity of the economic situation without it weighing too heavily on their pretty little shoulders? How do you teach them to handle money with the respect it deserves yet them not needing to have “Wall Street” knowledge to do so?

Enter the new card Discover Current card, which is targeted at the teenage crowd. It was with excitement I read of this through Mom Central. In a time where we have seen such financial lack of responsibility, it is important to foster this in our kids.

While the Discover Current Card has several wonderful advantages, my favorite ones are:

  • Parents can set spending limits, restrict merchant categories and track their teen’s spending through online statements, e-mail and text message alerts
  • Current cards that are lost or stolen will be temporarily suspended or deactivated, and card members will be eligible for an emergency replacement.
  • Teens can view helpful articles on topics such as basic financial concepts,
  • Current by Discover Card also is sponsoring a financial literacy program across high schools nationwide through its Money Smarts Program, designed to help educate high school juniors and seniors on basic money management skills.
  • Teens are eligible for members-only in-store coupons and online discounts when they use their card at select restaurants, movie theaters and teen-friendly merchants.

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