The Story of the New Debit Card

Written by Dave Young, President

My youngest son, Austin, turned 14 a few weeks ago. All he wanted was $300.

Before his birthday, he noticed ads for debit cards for kids. He decided to take all his money and deposit it into an account so he could have his own debit card.

Austin had to wait for two weeks to get his debit card. He is not the patient type so this was difficult for him.

He checked the mailbox every day until it finally came. He was so excited. It was his own personal debit card.

The first thing he decided to do was check his balance. His friend told him he could check it at another bank. Austin put his card in. The machine asked for a pin number. He didn't know what that was so he put his account number in.

After a few seconds, he heard a grinding sound. He asked the teller where his debit was. She told him that it had been ground up because he didn't put in the right number. He was so upset! His new debit card was destroyed!

He called me and told me what happened. He wasn't very happy. He asked for a new card, but he had to wait again until it came.

This story reminded me of what often happens if a person does not have a decent financial plan. If you don't have a good financial plan in place, often like the debit card, your financial life will be ground up.