Today’s tip might have nothing to do with food, but it sure is tasty… okay, so super helpful.

The other day, we got something in the mail from American Express. They have a new card called PASS, “a prepaid reloadable card parents give to teens.” They say that is is a “new alternative to debit and credit and its safer than cash. Parents load the card and teens use it to…” buy whatever they need/want.

Kids can choose their color and enjoy their own card, that’s not really credit or debit. I could enjoy less fighting over money and differences of opinion on what is worth a few bucks. We could avoid the bank, trying to teach them about overdrawing … and all those things I find burdensome in my own life. Plus, I’m a sucker for good marketing. I fought the urge to “sign me up” and decided to ask one of our very wise MOAT contributors their opinion.

I went to Chuck. Bentley that is. President of Crown Financial Ministries and the nation’s leading guru on money – how to manage it rather than let it manage you.

Here’s what he had to say:

Hi Kay…

We are at a swim meet…so I am typing a quick reply just for you!  

  1. It costs $3.95/month or $48/year so I think it is a very pricey alternative to cash.  
  2. Since the average teenager in the US receives an average of $66/month  as an allowance….(something I can’t substantiate but am quoting a blog I have read), this is almost an entire month’s allowance.
  3. I think the old fashioned envelope system is better for teens since everyone spends less with cash than with plastic.
  4. Finally, I have read some very negative reviews by parents who found it a real hassle to set it up and manage it.  
  5. As far at the marketing slogan goes, I think cash accomplishes the same thing or a gift card to the store where they make regular purchases.  

Hope that helps!


Hope you find that little tip as helpful as I did.

Remember – anytime you have a question, send it my way. I’ll pass it on to our MOAT Ironing Board who are all willing and thrilled to help us walk our bumpy road.

Thanks for walking it with me.

Pin It on Pinterest