This is a continuation of a blog post i wrote a while ago concerning pre paid credit cards and how they can help your children control their spending habits and learn to use credit responsibly; unlike many of us who have sadly been caught by the necessity to use credit in desperate situations and are now left with the aftermath…

So let’s move onto how these prepaid credit cards can actually help you, the adult, who is not supposed to need a financial education in the same way as a child.  We both know this is untrue don’t we?  We are as in need of a financial education as anyone else, or if not, we can always do with a reminder about the basic do’s and don’ts.  In the same way as changing your eating habits help a dieter to succeed in losing weight, changing your spending habits and credit habits can make you a more responisible person with money.

If you have no money, getting a credit card won’t help you hang onto your cash, it will surely get you into more trouble.  But if you work out what you can spend by closely examining your income and expenditure then you can surely load a prepaid credit card with that amount and then spend only that on what you need.  Then once your credit card is empty, that’s it!  You have to wait until you are able to load it up again.  This is highly effective in controlling spending and excellent at re-educating credit card abusers!