As a means of teaching financial literacy to school kids, this could be a useful tool, but when it comes to insurance, I’d avoid paying into a policy that requires proving a supernatural disaster in order to get a payout. Moreover, what’s the point in having an insurance payout when...
Share a portion with family, friends, or a charity? Invest in undervalued equities? (Maybe not the last one. Most kids this age are terrible at analyzing financial statements.) Whatever financial habits you want to start teaching your child, including debit card use, will make those habits ...