So is a prepaid debit card a good idea for your teens? See this article about them in the Wall Street Journal by Alan Zibel – it lists some favorite cards and more information on the cards in general:
Advantages are spending limits and purchase monitoring. There can be various fees and other costs you have to weigh before choosing. There are also going to be some new protections on these cards in the near future. This can really get your kids budgeting much better in the future, and they can learn about finances by doing.
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