Debit Cards for Kids

Giving a debit card to your child can help with lessons about money and responsibility. It can also take a few things off your plate as your child gets more self-sufficient. But what's the best way to do it?

Credit cards are risky, but debit cards may come in handy. Instead of racking up debt with a credit card, spending is limited to cash available in an account.

There are several ways to get a debit card for your child: prepaid, as a joint account holder, or with an account designed for children. Miranda at Bargaineering.com discusses a few of these options, while commenters share their experiences. If you're looking to send your child out with a debit card, read through the Bargaineering page on debit cards for children.

Further reading:

• Debit Card Basics
• Checking Accounts for Kids