| A fascinating study commissioned by brokerage | | | | One US radio host Dave Ramsey is certain that |
| Charles Schwab investigating how teenagers' | | | | toys such as Dora the Explorer and Barbie |
| treat money and debt has been grabbing the | | | | action figures carrying their own credit |
| headlines in the United States, and contains | | | | cards are now sending out all the wrong |
| some findings that we in the UK could do well | | | | messages. "It's out of control!" he raged. |
| to consider. | | | | "McDonalds recently gathered a focus group |
| | | | that identified anyone using a credit card at |
| The survey entitled "Teens and Money, 2008" | | | | the restaurant would spend almost 47% more |
| has highlighted American teenagers' casual | | | | than those using cash. And what's one of the |
| approach to debt and interestingly suggests | | | | toys released in time for Christmas this |
| that their habits could be learned from an | | | | year? A McDonald's cash register that teaches |
| early age, playing board and computer games | | | | kids how to use credit cards. |
| and with other toys that incorporate credit | | | | |
| cards as an integral part of the fun. Some | | | | "As a parent we can't get mad at Dora or |
| commentators in the States have gone so far | | | | Barbie, but we need to step back and think |
| as to suggest that games and other gifts send | | | | what message we're sending to our kids," |
| the wrong message to children about money. | | | | warns Ramsey. He does not believe that |
| | | | rampant commercialisation of toys such as |
| As the results of the survey are from | | | | Game of Life, which is sponsored by Visa in |
| American teenagers, it would be interesting | | | | the States help, nor does the adaptation of |
| to duplicate the research here in the UK. The | | | | traditional games such as Monopoly to |
| survey produced results which have certainly | | | | incorporate a credit card deals within the |
| got parents and child experts talking: | | | | game. |
| | | | |
| - 51% of teenagers agree that it's easier to | | | | But, it remains to be seen whether this US |
| buy things with credit cards | | | | commentator's concerns are applicable in the |
| | | | UK. Credit cards are yet to be introduced as |
| - Given the choice almost 1 in 3 teenagers | | | | an accessory for Barbie, and thankfully the |
| would prefer to buy with a credit card | | | | UK electronic bank version of Monopoly uses |
| | | | only debit cards, which is a more responsible |
| - Teens are motivated by parent's behaviour, | | | | approach and one that Ramsey would certainly |
| 25% saying that their parents are more likely | | | | applaud. In the UK we are certainly a long |
| to use a credit card than cash | | | | from having Action Man and Barbie sit down |
| | | | and compare credit cards in their wallets, |
| - 29% of teens are already in debt | | | | which might not be the case in the US. |
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