Baby's debit card
Parents of teens -- this is for you. Justin Bieber has signed a $3.75 million year long deal with SpendSmart to launch a debit card aimed at adolescents. In short, mom and dad load up the card and Emmellee or Madycyn learn about how to budget on books and bus fare (sure, let's go with that) while staring at Bieber's face. Click here for the particulars. According to the NY Times:
SpendSmart fees include a monthly fee of $3.95; loading fees of $2.95 from a credit card or 75 cents from a checking account (a single scheduled monthly automatic payment from a checking account is free); $1.50 to withdraw from any A.T.M. (in addition to A.T.M. surcharges), and 50 cents for an A.T.M. balance inquiry; $7.95 for a replacement card; and $3 for 30 days of inactivity.
JB says he’s doing this because he grew up without a lot of cash money and wants his fans to learn how to budget theirs.
So... Justin Bieber is a financial teaching tool now? I suppose if I were an enterprising teen, this is how I'd sell it to my folks.
Dad! Justin's helping me mature and be responsible! Mom, don't you see? This is how Justin's giving back -- by making me accountable for my spending!
Yes, yes. Justin Bieber's altruism is all over this. Me, I don’t have kids. So maybe I’m dumb for not understanding just how this boy...
...is qualified to mentor your children on how to manage their money.
These are the times I can't imagine the stress of raising a child. Because even if you wanted to deny your kid her request of getting a bank card because Justin Bieber told her to, because, really, only Justin Bieber is actually benefitting here, you also don't want to feel sh-tty when your daughter feels left out that Jessekah and Brittinney have it and she isn't cool now that she doesn't.
Here’s Bieber in Belgium yesterday greeting his fans and clearly not working on his posture.