Many-a-times, it gets really difficult to distinguish and identify the line between right and wrong. Such a judgment can often be person-specific and taken on the basis of personal views and experiences. Making the right decision becomes all the more difficult when people are at an age when anything fancy attracts the eye, luring them in a way unimaginable. Teenage is that stage of life when thousands of queries and doubts boggle the mind of a person and bring along with them, the constant desire to find an answer. This is the stage when they take a journey transcending the youthful thoughts and emotions of childhood and move to the onset of adolescence and finally adulthood. There is this constant need to feel responsible and grown-up.
Many people feel that allowing teenagers to use credit cards is a great way to make them learn about the importance of managing money and most importantly, to make them feel responsible. These cards not only teach them a basic lesson in money handling, but are also a highly convenient form of exchange that can be used for all purposes. However, every coin has two sides and this case is no exception. Reports of misuse and poor handling of credit cards by teenagers are found almost every day in papers and broadcasts. In spite of frequent lessons and programs to educate them about the matter, such incidences continue to be reported. Given below are reasons why teens should not have their own credit cards. Read on and decide for yourself.
Why Teenagers Should Not Be Allowed To Have Credit Cards
- Often credit cards are regarded as an extension of one’s allowance and hence, misused for buying things that are totally unnecessary.
- When the credit due is not paid timely, the card becomes more like a liability than an asset. Such cases of credit are often seen with young people, as they have a tendency to spend more without realizing the same.
- Teenagers are quite impulsive by nature and it is a known fact that shopping or buying becomes all the more easier when you buy on impulse. Having credit cards means that you have something in hand with which you can pay for something later on. It is but natural that teens would be tempted to purchase items that are luxurious and expensive.
- Teenagers tend to me careless and hasty and often end up losing their belongings, once engaged in some event. Thus, there is a great chance of the cards being lost or misplaced.
General Disadvantage of Credit Cards
- Often looking at the many advantages of using a credit card, we tend to overlook the disadvantages. The payment of interest is a part and parcel of the usage and unless the entire amount is given each month, chances are you end up paying much more that your purchase, as the interest keeps on accumulating.