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wpid-credit-cards.jpg…. Choosing Debit Over Credit

USA Today released an?article?stating that Millennials, ages 18-to-29, not only prefer plastic over cash for small purchases but choose debit over credit cards by a ratio of almost 3-to-1. With a cashless society amongst us, Allowance Manager CEO and founder Dan Meader sees the impending need to teach our nation?s children firsthand experience with money at a young age so that once financially independent, these skills are second nature.

Meader told?USA Today, ?Young people today will only be paying electronically (in the future). Kids really need to have an understanding of this sort of abstract notion of stored value.” This way when bombarded with credit cards, student loans and future money management, children will have a real idea of what money is.

Allowance Manager provides children as young as five years old with a prepaid debit card, the Allowance Card, to which money is automatically deposited. By having firsthand money experience, kids learn how to spend and save money wisely. Parents and children can look at the account from any web-based device at any time, allowing them to see an overview of their expenses.

Please let me know if you would like to speak with Dan Meader in regards to this Millennial trend and the importance of teaching children about money at a young age so that when prompted with credit and debit cards, they will already be knowledgeable about their value. For additional information please visit?AllowanceManager.com

 

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Best,

 

Eric Pestana

PMBC Group

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