Whether or not a child is ready for a credit card is a common question for many parents. And the answer is... it depends.
Nowadays, many high schoolers have a credit card. While you need to be 18 to legally have a card in your own name, you may share an account with your parent. The problem with credit cards is that your children will never physically see the money. It is just the swipe of a card. So in order to give your children an appreciation for hard-earned money, I've included a few ways to teach them about money.
Then, once you feel they truly have a good understanding of when to spend money, you can make the decision to give them a credit card (for necessary purchases only, of course).
