It’s not unusual today to see a junior in high school with a Visa card in his or her wallet. If the kids borrowed mom’s car on her day off to drive to school, they might use it to put gas in the car. They could pay their school fees with the pre paid Visa card. They might get a pizza after school if they’ve paid their half of the phone bill that month. Their paycheck if they work might be loaded onto the card. Teaching kids fiscal responsibility begins with an allowance usually, but at this age, they need to learn how to manage their lives.
Kaiku offers a pre paid Visa card that can be loaded with direct deposit if the kids work. There are no late fees, no minimum balance and no purchase fee. The kids can check their balance on their Android, Blackberry or iPhone. They can transfer money to friends or family with the same card. The kids can pay their bills and shop while simultaneously learning how to budget and which expenditures are the most important. All they have to do is sign up, wait for their card and direct deposit information to come in and they can put gas in mom’s car after school.
Learning financial responsibility this early in life sets a kid up for later life. S/he will learn budgeting, priorities and discipline. In the economy we’re facing now, these are invaluable lessons for a kid to learn.