Thursday, March 5, 2009

TEENS "DISCOVER" Money Management!



Ok I love the designs (and so would my TEEN) , I love the set weekly/monthly limits (not sure she would love that so much) as a matter of fact I love everything about it , except that it isn't totally free! It is HOWEVER worth the money to make sure your kids stay within limits and deter them from overspending , which could cost much more than said $5 per month, RIGHT EXPERIENCED PARENTS? LOL

This is a great card to learn with and as a matter of fact I know a few adults that could use this type of card now! :) hmmmmmmmmm maybe I will be blogging about an age "expansion" soon!

I really do love this and even though I don't pay an "allowance" I do pay for GOOD GRADES and I do pay well for them! I think this type of card would help my 13 year old step daughter learn early how to STRETCH A BUCK.......... and there is even a theft/loss prevention on the card which is VERY IMPORTANT at this age! :) It would be so easy on holidays too! If you wanted to give them a little bit more "fundage" as they call it! :) just load the money on the card! The only drawback I see is............ ALL MONEY FOUND IN THE WASHING MACHINE AND DRYER is "finders keepers" this may have a direct effect on the amount of money that ends up in my fishbowl! :)


HOW COOL IS THIS?
from the Discover site!
16-year-old Kristin loves the independence her new job at the mall has brought her, but she doesn't like spending her day off picking up her paycheck. That's why her Current by Discover Card is set up to receive direct deposit. Kristen and her parents also customized her account so she gets a text message the minute she gets paid, and set an automatic weekly spending limit of $50, so she can start saving for college. Current by Discover Card also hooks her up with exclusive online deals, like discounts at her favorite stores and restaurants—so she can save up for other important stuff... like a customized pair of sneakers. Sweet!

MOM CENTRAL INTRO:

To help us balance the desire of our kids with the balance in our checking accounts, Discover Card came up with a truly innovative debit card called Current by Discover Card, designed especially for kids ages 13 to 18. The Current Card helps us teach our kids born in a digital age how to manage spending. Like car companies that allow you to set the maximum speed limit on your teen's car, Current by Discover Card puts moms in control by letting you set (daily, weekly, monthly) spending limits, block certain merchant categories (like ATMs and liquor stores) and track your teen's spending online or through email and text message alerts COOL HUH?
Experience often serves as the best teacher. The Current by Discover Card provides kids with access to money in the way they want it while still giving us Moms what we need - independent spending by our kids without debt or incurring hidden fees. No more surprise credit card balances from your teen's "minor" shopping spree. It's a debit card product, the card stops working when the limit is reached without incurring any additional fees, which protects your teens from overspending.How much does it cost?

When you open your teen card account you will deposit an initial amount of at least $20 to each card. You also choose a plan for each card and pay the first month's membership fee of $5—or choose a $50 annual membership (at a savings of $10). Once you choose the plan, the fee will be assessed for each card at account opening. Other card fees are listed below.

  • Add money to the card—free
  • Four free ATM transactions per month per card (each additional ATM usage is 50 cents)
  • $3 for a new card design or replacement lost/stolen card
  • Online print-ready statements—free
  • Copies of statements by mail $5
  • $0 inactivity or "dormancy" fee

MORE INFO and APPLICATION ? GO HERE

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