Teens and credit is the same as tempting the devil.
One way or another, you are going to get burned.
All the same, you still have to teach your child how to use credit wisely and how to not purchase things that they can not pay for.
Now, realize here that we said "they" and not you.
If you want to provide your teen with a credit card, make sure they can afford to pay it off, not you.
The only way for them to learn is to do this simple yet effective thing.
Where can we find a balance? How can we teach credit education to our teens effectively? How do we make teens and credit work well together? One simple way to establish this is to provide your children with a working knowledge of how the real world works.
Just because you would like to provide your teen with credit does not mean that they will instantaneously understand.
You will need to present to them a basic how to of credit.
This way, teen and credit does have to be a life-altering thing.
Here are some good examples of what you can do to help your teen.
First, speak openly about your past experiences with credit, good and bad.
Teach them how to effectively manage money buy providing them with a strict allowance.
When they have to make do with a certain amount of money each month, they will have to make good decisions.
If you allow them to use a credit card, make sure it is theirs alone to use.
They will be responsible for paying for the balance or payment each month.
You will oversee it.
Guide them in making large purchases.
Ask them to wait 48 hours to decide to insure it is something that they really feel they need.
Allow them to make mistakes.
Help them get things put back together, but don't do it for them.
Trust them along the way.
By doing these simple things, you can help your teen establish their credit education in the best way possible.
That is with first hand knowledge.
Only through this method they may make mistakes.
But, isn't it better to let your teen and credit to battle it out when you can help them through it? We sure think it is!
One way or another, you are going to get burned.
All the same, you still have to teach your child how to use credit wisely and how to not purchase things that they can not pay for.
Now, realize here that we said "they" and not you.
If you want to provide your teen with a credit card, make sure they can afford to pay it off, not you.
The only way for them to learn is to do this simple yet effective thing.
Where can we find a balance? How can we teach credit education to our teens effectively? How do we make teens and credit work well together? One simple way to establish this is to provide your children with a working knowledge of how the real world works.
Just because you would like to provide your teen with credit does not mean that they will instantaneously understand.
You will need to present to them a basic how to of credit.
This way, teen and credit does have to be a life-altering thing.
Here are some good examples of what you can do to help your teen.
First, speak openly about your past experiences with credit, good and bad.
Teach them how to effectively manage money buy providing them with a strict allowance.
When they have to make do with a certain amount of money each month, they will have to make good decisions.
If you allow them to use a credit card, make sure it is theirs alone to use.
They will be responsible for paying for the balance or payment each month.
You will oversee it.
Guide them in making large purchases.
Ask them to wait 48 hours to decide to insure it is something that they really feel they need.
Allow them to make mistakes.
Help them get things put back together, but don't do it for them.
Trust them along the way.
By doing these simple things, you can help your teen establish their credit education in the best way possible.
That is with first hand knowledge.
Only through this method they may make mistakes.
But, isn't it better to let your teen and credit to battle it out when you can help them through it? We sure think it is!
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