Tuesday, August 9, 2011

FACTS ABOUT TEENS & MONEY FROM VOCALPOINT





How do you feel about your teen(s) using plastic?  Is it safer for teens to carry plastic instead of cash? Please read the post below than share your opinions in the comments area.


Here is an article (link below) that highlights 10 things a money-savvy teen should know. They are:

1. How to balance a checkbook
2. Budgeting money
3. Figuring future student loan payments
4. How to establish good credit down the road
5. Identifying wants vs. needs
6. Dealing with debt
7. Paying taxes
8. How to consider all the costs associated with a purchase
9. Saving for the future
10. Stretching a dollar

Article: http://www.bankrate.com/finance/college-finance/10-tips-to-raising-money-savvy-teens-and-college-age-kids-1.aspx



On Teaching better spending habits Braun Research conducted 500 interviews with parents as well as their 13- to 18-year-olds throughout the U.S. These were the results.

• Over 80% of parents said they wanted to be better role models for their teens regarding money management.
• That same group said they have made money mistakes they would want their teens to avoid.
• 53% of parents reported that their teen asks them for money at least once a week.
• However, 35% of teen respondents said that when they did ask for money, their parents rarely or never used these occasions to discuss topics such as budgeting and planning for the future.
• 29% of parents of teens surveyed said they argue with their teen about money at least every month.
• 53% of teen respondents said they want to learn more about topics like budgeting, saving and credit.
• Over half of teens reported that their parents are their primary resource for learning about money management.

Source: http://www.banktech.com/business-intelligence/224400671

The BillMyParents Spend Smart Card can help parents take a more active role in helping their teens develop better spending habits with these features:

• Parents can build trust by giving their teen some financial freedom
• Instant text alerts with each use so parents can keep tabs when it counts
• After a purchase, teens get a text showing their remaining balance to help them budget better
• Safe and secure to use—even online—and can be locked or unlocked at any time
• Funds can be loaded with a single click (even by parent-approved family and friends)
• As a bonus, your readers can try it with no membership fees for 6 months at vocalpoint.com/BMPFree
The BillMyParents Spend Smart Card is more than a card. A range of services help keep parents in charge while teens get the freedom to build better spending habits. Plus, instant locking makes it safer than cash. The card is  not a credit card.  It is a reloadable MasterCard prepaid card that  parents control.  Parents have the ability to lock and unlock the card,  and can receive text alerts each time the card is used.

Vocalpoint members have the opportunity to try this Bill My Parents Spend Smart card for six months for free when they sign up through Vocalpoint.


The BillMyParents Spend Smart Card is more than a card. A range of services help keep parents in charge while teens get the freedom to build better spending habits. Plus, instant locking makes it safer than cash. The card is  not a credit card.  It is a reloadable MasterCard prepaid card that  parents control.  Parents have the ability to lock and unlock the card,  and can receive text alerts each time the card is used.


I received this information is from VocalPoint

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