should a teen be given a credit card?
Kayyy Bee 
asked:
i admit… i am spoiled.
i am going off to college next yr and need to know how to manage my money between gas, food, and entertainment (clothes etc.)
i can just go up to my mom and be like “i need money” and she would just give it to me. or i could say something like “i am going to the mall” and she will give me money.
i am not gonna lie. i like getting “free” money. but i seriously need to learn the “value of a dollar” so to say.
so i told my mom this and asked if i could have a credit card. and she said no.
on the other hand. my dad is the one who is trying to teach me to use money wisely. (but lately has been easing up some… unfortunately) and he was going to get me checks to use. the only problem is that nobody uses checks anymore for the stuff i would use it for. (nails, clothes, etc)
and my dad pays for my gas but i feel that if i am given a limit to use on a credit card per month that i can pay for both my gas and other stuff. that way i will learn something about money
i am responsible. i get really good grades in school. etc.
do you think i should/shouldnt be given a credit card?
if you think i should then how can i convince my parents.
if you think i shouldnt. why?
thank you
i cant get a job right now.
(besides that my mom doesnt exactly support my idea of getting a job for some odd reason)
but i have college level classes. and i am involved in after school activities that keep me busy until 5pm everday. and after that i am doing homework until 12am if i am lucky.
asked: i admit… i am spoiled.
i am going off to college next yr and need to know how to manage my money between gas, food, and entertainment (clothes etc.)
i can just go up to my mom and be like “i need money” and she would just give it to me. or i could say something like “i am going to the mall” and she will give me money.
i am not gonna lie. i like getting “free” money. but i seriously need to learn the “value of a dollar” so to say.
so i told my mom this and asked if i could have a credit card. and she said no.
on the other hand. my dad is the one who is trying to teach me to use money wisely. (but lately has been easing up some… unfortunately) and he was going to get me checks to use. the only problem is that nobody uses checks anymore for the stuff i would use it for. (nails, clothes, etc)
and my dad pays for my gas but i feel that if i am given a limit to use on a credit card per month that i can pay for both my gas and other stuff. that way i will learn something about money
i am responsible. i get really good grades in school. etc.
do you think i should/shouldnt be given a credit card?
if you think i should then how can i convince my parents.
if you think i shouldnt. why?
thank you
i cant get a job right now.
(besides that my mom doesnt exactly support my idea of getting a job for some odd reason)
but i have college level classes. and i am involved in after school activities that keep me busy until 5pm everday. and after that i am doing homework until 12am if i am lucky.
and i didnt really mean credit card so to say. idk what they are called but you put a certain amount on the card (sort of like a gift card) and when your out you are out until you put more on it. idk my friend has one. i just dont know what it is called.
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August 7th, 2009 at 12:09 am
No I don’t think that teenagers should be given a credit card. I think it sets a bad example for them. I think they should learn to budget their cash money and not rely on credit cards to get what they otherwise could not afford. Too many people are filing bankruptcy because of credit card debt.
August 7th, 2009 at 7:37 am
OK….(1st- good for you for realizing how lucky you are)
GETTING A CREDIT CARD WILL NOT TEACH YOU HOW TO MANAGE MONEY…IT WILL TEACH YOU HOW TO BUILD DEBT
sorry
Do NOT think that plastic will teach you the value of money. If your parents are willing to support you financially through college (and it sounds as though they are) Talk with them about establishing a monthly allowance and giving you a bank card with a visa logo that allows you access into your (and ONLY your) account.
Going to buy a pair of jeans and having the card declined if you are out of money will help you learn the value of money…not having your dad yell at you when he gets the credit card bill…that teaches you to not answer the phone.
And get a job….THAT will teach you the value of money better than anything
August 10th, 2009 at 3:02 pm
I think you should get a credit card when it is your money on the line. As long as it is your parents’ money it’s their decision how they distribute it. You can’t complain. I got my first credit card my first year of college. It was under my name and tied to my checking account
August 11th, 2009 at 6:55 pm
Yes, you are spoiled as hell, but you did admit that. I like your honesty. I still don’t think you’re ready for a credit card yet until you really learn the values of money. You’re so use to not working for your money like some of us do, you need to learn money doesn’t come easy. Your dad pays for your gas, girl you are living the life. At least you are willing to learn ,I like that in you. ** But still no credit card** Show responsibility by getting a job even if it’s PT. The best of luck in College next yr.
August 14th, 2009 at 12:40 pm
good question.
1. learn this concept and it will help you thru your entyre life including the financial aspects of it.
“happines is always bigger when it comes as a reward”
-you would never believe the pleasure you will feel when you pay in full for a car or a house and that money comes entyrely from your own work.
2. no matter what they tell you. credit is only to be used for:
bussines, housing and education..and may be emergencies,(vacations in cabo do not come as an amergency and usually for real emergencies there is insurance.).
3. if you dont have the money, you can´t afford it, period.
4. live way below your means and work. that would really teach you the value of money. get creative , look for ways to get much more out of live whith much less money.
5. buy things that gain value , and avoid things that loose it.
and remember another golden rule. “SHOPPING IS NOT A HOBBY , DO NOT USE SHOPPING AS A WAY OF HAVING FUN OR TO COPE WHITH BAD EMOTIONS, IT WILL RUIN YOU!, YOU BUY WHAT YOU NEED AND NOTHIGN ELSE”
6. learn to invest and take care of your money , you would never believe how expensive is avoiding this step.
7. dont be afraid of being the different one, if you do what everyone else is doing youll be fully in debt in a few years.
8.avoid credit cards, this companies are scary. they operate the same way as drug dealers.
9. use cash or a debit card and leave it at home.
take out in your wallet only what you might need.never more. (this one builds character).
10. avoid credit cards.
11. avoid credit cards
12.avoid credit cards.
August 15th, 2009 at 11:09 pm
Your parents could set you up a checking account with a certian amount per month. Then give you a debit card to that account. It’s the same basic concept as checks, and you should keep reciepts and a register. Your parents could then add that same certian amount per month each and every month (say $300). Just remember you can overdraw with a debit card. And set it up online so you and your parents can check in and make sure you have enough, and see how you are spending it. That’s my suggestion.
August 17th, 2009 at 9:11 pm
I’d get you a prepaid credit card if you were my child that will truly teach you the importance of managing keeping and spending money because when it runs out it runs out.(until you earned more money to put back on it keyword :earn)