Credit Cards vs. Debit Cards: Which Are Better for Young Adults?
Using a debit card gives young folks the autonomy to handle their own cash flow, create a spending plan and learn to budget. A healthy cash flow provides a solid base to any financial plan, so starting with a debit card is an excellent first step to good long-term financial habits. You don’t build credit this way and you’re only dealing with cash, but I don’t see that as a downside; more as a first step on a financial road map, says Kerry Jackson, partner and director of financial planning at Fish & Associates in Memphis.
The Wall Street Journal, October 10, 2021
