Thrifty Thinking: Teaching Kids About Credit

The majority of kids today will use credit cards at some point, and it's important to help your kids learn to reduce debt by developing discipline in spending habits. For many parents, setting expectations for children is a great first step in teaching financial independence. Buxx allows parents to track and monitor what their kids are spending. With a simple re-loadable Visa card, parents can work with children to visualize the balance between spending and earning with an easy-to-use website complete with tracking and spending alerts. 

Parents and teens each have a login with access to the earn smart, spent smart^TM budget management system associated with the card. From there, both can view account balances, select which alerts to receive and see where money is being sent. Buxx.com has been optimized for mobile viewing, giving parents and teens access on the go from their computer, smart phone, or tablet.

The program starts with a $4.95 enrollment fee and a $4.95 monthly maintenance fee, with no inactivity fees, free direct deposit and the same high quality of customer service expected from CardLab. “We’re invested in helping teens make smart financial decisions. It’s inevitable that this generation will have credit cards so we’ve made it our mission to help them earn smart and spend smart using budgeting tools that will help them prepare so they know how to use plastic responsibly when the time comes,” said David Jones, CEO of CardLab, Inc.. “Both of my sons have a card; the Buxx.com dashboard makes it easy to view both account balances and keep track of their spending.”

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