Not a Fan of the Justin Bieber Prepaid Card

Janet Bodnar explains why parents shouldn't get the latest celebrity-endorsed debit card for their kids.

When Justin Bieber puts his name on a prepaid debit card, it’s time to hang on to your wallet. Other celebrities -- Suze Orman, Magic Johnson, the Kardashians, to name a few -- have endorsed prepaid cards, but none with such a direct link to impressionable teens. And word is that the kid heartthrob will make full use of social media to promote the SpendSmart prepaid card to his millions of Twitter followers and Facebook fans.

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Janet Bodnar

Janet Bodnar is editor-at-large of Kiplinger's Personal Finance, a position she assumed after retiring as editor of the magazine after eight years at the helm. She is a nationally recognized expert on the subjects of women and money, children's and family finances, and financial literacy. She is the author of two books, Money Smart Women and Raising Money Smart Kids. As editor-at-large, she writes two popular columns for Kiplinger, "Money Smart Women" and "Living in Retirement." Bodnar is a graduate of St. Bonaventure University and is a member of its Board of Trustees. She received her master's degree from Columbia University, where she was also a Knight-Bagehot Fellow in Business and Economics Journalism.