You carry your credit card around with you for making payments. It is a better option than carrying large sums of money when you go shopping and dining. At times when you are so preoccupied with your work, you may have to send your teenagers to do your shopping for you, using your credit card.

Now comes the question if it is safe giving your teenager access to your credit card. This is a question that is best answered based on your teenager’s nature, wants and desires, self-control and financial knowledge and control.

Teenagers who know how to spend wisely

There are some teenagers who will use your card only for whatever purchases/bills you make them pay using your credit card. Allowing these teenagers access to your credit card is rather safe as they know their limits, and will not waste your money.

They know how important for your credit card paid expenses to remain within the card’s credit limit, and that you will have to unnecessarily pay some extra charges for exceeding the card’s limit.

Moreover, they know that it is important that you pay your monthly credit card bills on time, and thus won’t spend so much money that leaves you in financial problems at the end of the month. It is generally safe and okay to let such teenagers use your credit cards as you know they will also wisely and safely use their credit cards later on in life.

Teenagers who flaunt your money

Then again, there are some teenagers who don’t have the habit of asking for permission, and just keep flaunting your money to buy the things they want. They use your card to pay for exorbitant purchases, their dining and entertainment expenses and they don’t actually know the value of your hard-earned money, and how much difficulty you have to go through to pay for their expenses.

These teenagers don’t bother about the additional expenses and financial burden you have to go through because of their spending habits. Though it’s not advisable to give such teenagers absolute freedom and access to your credit cards, you should teach them the responsibilities involved in using credit cards.

Teach your teenagers responsible spending with credit cards

If you don’t do this, and just stop them from using your credit card, they will never learn the importance and knowhow of responsible spending. So instead of not letting them use your credit card, you should teach them how to use a credit card. Explain all the financial difficulties you are put through because of their exorbitant spending, and how it will also affect them later on in life.

With some training and guidance, and by providing your teenagers access to your credit cards, you will be able to mold such teenagers into teenagers with financial responsibilities, who will be able to wisely use and handle a credit card later on in life.