Question of the Day: What percent of 13-17 year olds have a debit card?
- Do you have a debit card?
- If so, when did you get it and what purchases do you use it for?
- If not, when do you plan to get one?
- Does it surprise you that twice as many 13-17 year olds have a debit card compared to a credit card?
- Which account is a debit card typically attached to?
- What’s the difference between a debit card and a credit card?
Behind the numbers (Creditcards.com):
About a fifth of teenagers ages 13-17 (19 percent) hold a credit card as an authorized user on a parent’s or guardian’s account. Even more Gen Zers are getting accustomed to using plastic, with 40 percent having their own debit card.
Here's an activity (Project:Payment Decisions) to get your students to think about the different ways they can pay for things and the pros/cons of each.
About the Author
Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.
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