Dr. Sachin K Parappagoudar, Dr. Sana Saima, Kilarapu Jahnavi Siri, Jayasri Allugubilli, Roopsika Kancherla and Vandanapu Akash Chandra
Is a debit card, right up there with cell phones, the new essential item for teenagers?
A teen debit card can teach teenagers important lessons in fiscal responsibility in addition to providing ease for making routine transactions and simple access to cash at ATMs.
Through a few sources online, the majority of teenagers said they wanted to take the required steps to become financially independent when they reached adulthood. The ability to manage an allowance, establish savings benchmarks, assess "needs" vs. "wants," and establish long-term financial objectives can all be improved with the use of a debit card. However, students use electronic money and debit card services less frequently while performing transactions, therefore the issue is how e-money and e-money are used. The debit card is used to pay for student consumption costs. This system of payment transactions utilizing electronic cash and debit cards will have an impact on a person's consumption or spending habits. The purpose of this study is to examine how using debit cards and electronic money affects consumer expenditures and how to introduce debit cards to teenagers and teach them to be responsible for money on their terms.
Dr. Sachin K Parappagoudar, Dr. Sana Saima, Kilarapu Jahnavi Siri, Jayasri Allugubilli, Roopsika Kancherla, Vandanapu Akash Chandra. Importance of debit cards for teenagers. Int J Finance Manage Econ 2023;6(1):159-161. DOI: 10.33545/26179210.2023.v6.i1.187