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Credit Cards have become an integral part of our life. It is just like driving or watching television. There are negative aspects of driving for teens and watching television for still younger kids but you still can't keep children away from them. Just as teens are taught to drive initially under supervision, so also should they be taught to handle credit cards.

Part of a teens' growing up process is to learn how to handle finances. For most people, huge credit card bills is a nightmare and the thought that their teenage children could be spending recklessly is a worse thing. This is not for those who have plenty of dough and do not mind their children splurging. Anyways, these brats already have their cards and this discussion is not for them. It is for those who live within limited earnings and want their children to grow up as responsible adults.

While there are negative aspects of credit card there are also positive aspects provided cards are used sensibly. Teens need to learn how to handle credit cards sensibly and keep things under control. They should be clearly told that having a card does not mean they can spend irresponsibly. Under no circumstances should they spend more than the credit limit and they should pay off their dues every month. Maybe there could be an understanding that parent foots the bill upto a pre-agreed limit and anything beyond that has to be borne by the youngster.

Now there is the other side that giving credit cards to teens is like waving the red cloth to the bull. Yes, it is indeed a risk but it is a measured risk that every parent should take. There are certain advantages to this. For one, parents can keep a tab on the places that their children are visiting and the kind of expenses they are incurring. As it is children get their pocket money in cash so giving them a credit card only means you are changing the mode of payment. Also, if they ever get stuck for cash, the card can bail them out. Lastly they can't buy drugs using a card!

But all said and done, giving credit card is not an end in itself. It is just the beginning and parents should spend time over carefully monitor the expenses for some period of time. This is not a trust issue, but a check to ensure expenses are within control. Once children learn the value of money and know how to use the credit card sensibly, you will be glad you gave it to your teen.

Let's face it, there are risks associated with this and you are taking a calculated one by giving it to your children. Most will behave responsibly and live upto the trust but there will be those who don't and for them this may be the beginning of the process to help grow up sensibly and responsibly.

Learn more about this author, Saurabh Pal.
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