Today’s fantastic family finance article is:
Your daughter just got her first prepaid card, debit card, or — gulp — credit card. Yikes. Some urgent questions:
- Did she really just buy a big screen TV 900 miles away in Podunk?
- Did she get double billed for that Zappos order?
- Is she still shelling out payments for World of Warcraft even though she stopped playing months ago? Still watching Netflix? Hulu? Still listening to Spotify?
- Did that deposit go through yet?
- How much was that last purchase? How much is left in her account?
These are all good questions for your card toting teen to know in real time. Why?
Nip fraud at the bud. Catch faulty billings. Curb spending on unused subscriptions. Stay on budget. Just be more mindful of spending in general. All good reasons for your kids to get automatic notifications whenever money comes or goes.
So, help your kids set up activity alerts on their financial accounts today. It may take a little poking around to find the right setting. Stumped by your credit card? Jim has a great trick for coaxing the right alerts here.
Get tomorrow’s tip here.