It is always a good idea to teach children from a very early age to manage and handle money correctly. It is most disturbing to see young adults getting dozens of offers in the mail for that magic credit card which is not going to help them get ahead when it comes to money management.
It is far wiser to give a child a debit credit card and teach them the multitude of ways that they can save money. Money saved is money that can be spent on better things of your own choosing. Explain to your child how credit cards work, that they are very expensive forms of borrowing money. Money which needs to be paid back with interest. Try to show your child the many ways that they can save in other ways.
It can become a game and a challenge to try to find as many ways to save money as possible. Forget that magic credit card, look at clipping coupons instead. The trick here is to search for coupon codes or specials only on items that you actually need or want. A sage once told me that “everything is expensive if you don’t really need it.”
So how do you find coupon codes for the items that you actually need? One way is to scan the newspapers and store fliers. Another way is scout the shopping isles for coupons. Do not purchase the items now, many have an expiry date on them. Collect them and swop them with friends so that you get coupons you need and want. The best way is to subscribe to an internet site and get coupon codes emailed to you. Then you can scour the email suggestions and take the codes you need.
How much can you save this week?