This edition of Beat the System is all about college spending, with advice from Consumer Reports.
Encourage your kids to spend cash, and not with credit or debit cards. Actually seeing how much money you have in your wallet is much more concrete than “invisible” money from a piece of plastic.
Consumer Reports also suggests to remove overdraft protection on debit cards so they can’t be used if there’s no money in the account. Sign up for text or email alerts about account balances, as well.