8.29.17-mason-credit Control.docx

Mason 1 Karen Mason Ms. Del Castillo Research Seminar 29 August 2017 Credit Control; Are teens the best option?

When it comes to credit control, sometimes looking outside the normality is the answer. One may find that the people fit best for the job are not really people at all; their teenagers. Teenagers have a more developed and creative sense of observing the way we fix everyday tasks. Looking at something from a different perspective might give them sight into new possibilities regarding things like using and controlling credit card usage. Over the years teens have developed habits that highlight the best ways of saving money. This is because teenagers are used to getting by with very little in the ways of money/allowance. “In the right hands, a credit card can do wonders for teaching a teenager self-control and practice personal responsibility when it comes to purchases.” – Jana, author of Daily Money Shot, a personal finance blog. The world of millennials is all about cutting corners and efficiency. Because teenagers grow up in a more industrial, fast pasted, problem solving society, they have a more innovative way of thinking about efficiency in the most common tasks and problems. So, give them control of the credit cards and you may as well have found the best way of using them. Credit card companies are more online than ever before. Because teenagers grow up in a world of electronics, they would much more easily be able to navigate the online world of credit. Teenagers might better understand the new wave of tech advances in the credit card system, whereas older, non-millennials are simply too dated to keep up with the advances.

Mason 2 With controlling credit comes a sense of responsibility, which will later reflect the future and success of the child. In this sense, teens would learn how to better prepare themselves for the future and practice independence. If they are given control and responsibility now, when they are older, they will be better prepared for the hard ships that come with being an adult. As teenagers have the reputation to be irresponsible, one might think that they would act destructive in a position of such authority. However, the authority would put them in a stressful position that would force them to make an adult decision, enabling their mature senses at a young age. “I will be the first to admit that I felt a tremendous sense of power and grown up-ness when my parents handed me that credit card. But like Spiderman’s Uncle Ben says “With great power comes great responsibility.” He’s a smart man. You see, even though I had that credit card in my wallet, I knew I had to be extra careful about what, if anything, I purchased.” – Jana, author of Daily Money Shot, a personal finance blog. While credit card companies are trying to modernize the way they work, adults may not have the time or the mental capacity to modernize their day to day thinking, leaving an already technologically advanced teen the advantage. In conclusion, teenagers have a more developed sense of the modern world and will have the most success out of everyone at controlling credit usage.

Source; http://blog.readyforzero.com/why-teenagers-should-be-allowed-to-have-a-creditcard/#.Waf_pDtlkgp