Monday, March 02, 2009

Discover something great & educational

Discover card has hit upon a great idea!
Have you ever sent a kid away to college only to have them come back owing more on credit cards than student loans? I have...it's no fun.
I thought I had taught them how to handle money. Boy, was I wrong. When away from mom and dad they go crazy. There are credit card companies on the campus from day one practically throwing credit cards at them. They don't have a clue. One clue is if you don't have a job, you can't pay back all that money you're spending.
Discover has designed a debit card for teens, tailored for parents meaning it has built in controls for parents. AND if it's a debit card, they can't spend more than they have!
I think if this is started with teens early on, it will teach them money management. Things bought with credit cards are NOT FREE, it must be paid back. I really like this concept. I hope it catches on.
If you want to see what it's all about, go visit them at www.currentbydiscover.com

1 comment:

tipper said...

Sounds like a super idea!