There’s a longstanding debate about which is better when it comes to teaching young adults about good financial habits—debit cards or credit cards.
Debit cards allow young adults to carry less cash and teach them to spend only what they have in their account. Credit cards, on the other hand, allow them to establish a credit history and increase their credit score, which can be critical for purchasing big-ticket items later on, such as a house or car, or even for starting a business. There are downsides to both payment methods, however, so we asked experts to weigh in on how young people can best use these tools.
