Children’s Allowances in a New Form: Debit Cards Linked to Parents’ Phones

No need to worry about coming up with cash for a child’s allowance. Parents can now choose from a rapidly expanding menu of prepaid debit cards, aimed at giving them digital oversight of their children’s spending and saving habits.

“Prepaid has really evolved,” said Christina Tetreault, a staff attorney with the financial services program at Consumers Union.

The latest offerings include cards with slick companion apps from financial start-ups like Greenlight, Current and goHenry. Unlike traditional debit cards, which are directly attached to checking accounts, all must be loaded with money by parents.

The digital tools aim to fix an increasingly common problem: Parents don’t always have cash on hand. So they can be caught short when a child needs money for an outing with friends, to put gas in the car or to complete a chore. With an app, parents can put money on a child’s debit card with a few taps on their phone.

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How a solar plant is changing the fortunes of a small-town economy

 

 

The railway town of Touwsrivier is hardly the thriving economy it once was. But the presence of a solar plant will hopefully be the catalyst needed to reignite the small town’s economy.

Located in the Cape Winelands District in the north eastern part of the Western Cape, Touwsrivier is known as the passageway between the Karoo and the Boland. The national railway which runs through it used to be operational until the late 1990s, and it was responsible for most of the economic activity in the community, according to town manager Neville Fourie.

After Spoornet (Transnet) withdrew, banks and businesses followed suit as there was no longer a business case to stay. The community has been struggling to revive its economy since, said Fourie who was speaking at an investment summit, at a conference centre not too far from Touwsrivier on Friday.

Fourie along with other representatives from the Breede Valley Municipality, some residents of Touwsrivier and businesses and potential investors gathered together to chart a way forward for the community.

There is a second chance for Touwsrivier to become a thriving economy, through the presence of the CPV1 solar power plant.

Economic diversification will ensure that Touwsrivier is not constrained by a single resource.

Following breakaway sessions throughout the day, community members presented plans to lift various aspects of Touwsrivier’s economy. Among the proposals made include developing its tourism industry and suggestions were made to create a tourist attraction by establishing a heritage route and even a fossil route.

The youth also made their representations – asking for more opportunities for skills training especially in artisanal work.

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