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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