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Category: Credit and Debit Cards

The $400 Temptation

The $400 Temptation

I gave my kids a test this morning.  They passed but only after asking a few questions.  And since they were the right questions, I allowed it. I received a special invitation in the mail yesterday from American Express.  Often, these special invites go directly to the shredding box.  But the marketing department at AmEx discovered how to get someone like me to open the extra large envelope. The front of the envelope offered me a $400 gift card to…

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Registry Reflections

Registry Reflections

Nathan and I were “KidsSaving” his recent transactions yesterday.  That’s when we reconcile his bank statement with his KidsSave Account.  But it’s also when we make sure that his recent charity contributions or other expenses, get recorded. He looked at the balance of his bank statement with wide eyes and said, “That’s all I have in the bank?” It was over $400 so I was a little surprised at his concern. “Haven’t you been keeping track in your registry?”  I…

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One Step Closer to Adulthood

One Step Closer to Adulthood

Nathan got his first checking account complete with checks and debit card.  It’s time for him to move on to the next level of money management.  At 16, he needs experience depositing, cashing, and writing checks.  He also needs to learn to use “plastic” money in the form of a debit card. I like debit cards.  They’re convenient, practical, and as close to using cash as you can get.  That’s because the money is pulled directly from his checking account…

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Show Me the Money

Show Me the Money

I was talking yesterday with a mom of one of the students in my money class about how abstract the concept of spending money can be.  Sure, kids know how to buy stuff.  That’s pretty concrete.  But do kids understand what happens behind the scenes when we buy things using our credit card? This mom described how enlightened she became when she and her husband took their two kids out to dinner and paid in cash.  Both her boys were…

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Deadbeats Rule!

Deadbeats Rule!

While watching In Debt We Trust with Nathan and Ryan, I found out that those who pay off their credit cards each month are called deadbeats by the credit card industry.  That makes me a deadbeat.  Deadbeats rule! I’m not a big fan of the credit card industry.  Just because you can doesn’t mean you should.  Well the credit card companies did, and a lot of people are suffering.  And although a tad bit behind…change is a comin’.   Congress just passed new legislation. …

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