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Ask Dave

Prepay? No Way!

It's a lot of money to send away with a teen. Should Gina do it, or is there a better way?

QUESTION: Gina’s son is going on a youth function and she wants to give him money. What does Dave think of prepaid debit cards, since she doesn’t want to give him $300 in cash?

ANSWER: I don’t like prepaid debit cards. He can open a checking account with $300, and use a debit card for that. The second option is that, if you can’t trust him with $300, I I’d think twice about sending him away for that long. There’s a part of handling money is reflected in their total package, especially with teenagers.