Don’t you just love kids and their concept of money? I love when you walk into a store and thy see something they love and they tell you it is ONLY $100! Only? Do they think money grows on trees? Now that Johnny is getting older we really want him to understand the value of a dollar. My husband is great with it and can turn a dollar into ten dollars. I somehow make them disappear. I really wish someone had taken the time to teach me how to properly spend and save when I was younger. My husband has been doing his best but I strongly believe that if you grow up with these values from the beginning its like second nature to follow them. Both our boys have savings accounts and any cash they earn goes straight into their savings. Even birthday money. Of course Johnny getting older has learned how to work around it by asking for gift cards instead of money. The problem is he thinks the moment he has one in his hands he feels the need to spend it immediately. We try to teach him that if he saves them they will be worth more and he can get bigger and better things.
I love this new Reloadable PASS Card from American Express! What a great way to teach teens the value of a dollar while also teaching them what “credit” it.
* Limit overspending and avoid teen overdraft fees
PASS is prepaid, so teens can only spend what’s preloaded on the Card. There are no risks of overdraft fees or impacting teens’ credit.
* Save time with online reloads
PASS doesn’t require any extra trips to the bank. Conveniently reload PASS online or schedule automatic reloads.
* PASS Card lost or stolen? No problem.
Don’t worry. If PASS is lost or stolen you won’t be responsible for fraudulent charges, and American Express will replace the funds.
This is great for teaching your kids the value of a dollar. Plus, what is great is your child can learn the responsibility of using a PASS Card without worrying about overage charges, bounce charges, etc. If your child gets low on their account you’ll get an email letting you know. This isn’t just great for your child but also a great way to track what your child is spending their money on!
I wrote this review while participating in a blog tour campaign by Mom Central Consulting on behalf of American Express and received a gift code to thank me for taking the time to participate.
You know, I had to think about this.. It really is a great way to teach young ones how to use these cards before they get a real one and go crazy and get in trouble. Very interesting idea. Thanks for sharing.