A growing number of parents are using a new way to teach their teenagers to handle money wisely: a prepaid debit card. Parents put a certain amount of money on a Visa® or Mastercard® debit card, for example. Teens use it instead of cash. Purchases show up on their parents’ monthly statement, so parents can monitor how the money is being spent and how fast it is being spent. When the money is used up, parents can "reload" the card. Depending on the plan, parents may pay initial set-up fees, monthly fees, or transaction fees. They feel the safety, monitoring capability, and convenience are worth it.