The Sunday Times says

Important lessons on the value of thrift

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Parents need to pay heed to the story of a father who was puzzled when the bank called to tell him that he had missed a payment of more than $20,000 in overdue credit card debt linked to 89 mysterious transactions under his name. The billing trail led to his 18-year-old daughter's Grab account, which was tied to his credit card and meant to cover her transport expenses. Unknown to him, the teen had linked her e-wallet to a mobile game and gone on a spending spree.

This is not the only case. There are other stories of parents forking out large sums to pay bills chalked up by their children's online or in-game spending. The main reason is the exposure of young people to such transactions because of the rise in digitalisation. One obvious solution is to set spending limits on what children with access to their credit cards can do. The technology for this exists. Users can set up real-time notifications that inform them whenever their e-wallet is charged. Users can also turn off the auto top-up function and spend within the limits of a budgeted amount. These are useful mechanisms.

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