There’s a new concept floating around in the financial management learning world concerning students. Parents love it, and students too. The task - helping students and families learn to become financially literate. Not an easy task.

The Pre-Paid Card

The pre-paid card much like a debit card is PIN-based. When endorsed and bearing the logo of a major credit card like MasterCard or VISA, it’s accepted by a variety of businesses, restaurants and shops around the globe.

Parents Choose The Amount!

Parents decide exactly how much money to put on the card each month. The kids manage it from there. They know how much is on the card, and it’s up to them to budget for their needs. There’s no chance a student will rack up thousands of dollars in debts.

Instead of parents giving their children cash each month or sending a check it’s now a simple transfer between accounts. The card already in your child’s hands give them the convenience of cash, makes it easy for them to learn financial cash management and the parents can monitor the spending. This is a great financial tutorial.

Setting Spending Limits

Parents set parameters for the credit cards of where they can and cannot be used. If there certain types of establishments are “off limits” they can be blocked. This is done with business categories and not by individual establishments. This feature is part of what makes this card a financial learning tool. It’s ideal for youths who aren’t quite ready to have an actual debit card or credit card.

This makes for a win/win for families and for the bank card industry.

Think the Refi Boom is Over?  Think Again!  Lock in a Low Rate & Save $1000s on Your Mortgage.