Yes, it makes sense for your kids to embrace the modern world of digital money. After all, you’re not raising financial Luddites.
But the modern money world isn’t without it’s digital hiccups:
“I’m afraid your card has been rejected.”
“Too many incorrect PIN attempts. Your card has been disabled for security!”
“This card won’t swipe, the strip is damaged.”
“Sorry, we only take cash here at The Old School Cafe.”
Modern world or not, there’s going to be a time or two when your kid’s card, or smartphone, or smartwatch, or next generation fancy pants payment gizmo just doesn’t cut it.
Don’t leave your kids stranded. Make sure they know to always keep a little backup stash of cash in the wallet, the purse, or — the old standby — the shoe.
Don’t fight financial technology, but don’t blindly trust it either. Teach your kids to have a Payment Plan B. That’s B as in Benjamin.
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