November 30, 2008
Teach Them
By Student Credit Finance
Let’s face it, in the world we live in today we must have credit. For this reason it is OK to let you senior high school er or college student get that college student credit card. Moms and dads, in our day our parents would not even think of that as an option. It would have scared them to death. I do not know about you but, this might be why I have had a difficult time with credit from time to time. I really was not taught how to handle it properly.
Parents unite, let us teach our kids the right way to use credit. The perfect start is a college student credit card. For one, they are very easy to obtain. The do not require a credit history or a minimum monthly wage. For these reasons, as long as a student is enrolled and attending school, they will probably be qualified for a college student credit card.
Encouraging this, rather than telling them they will just mess up would be a good way to go. You do not want them to go behind your back. If they do, you will not have the opportunity to teach them a thing or two about credit. So, let’s just encourage this and be happy when they receive it. Then let the teaching begin.
What you can teach them at this point is how to use this new and very exciting college student credit card. Teach them that it is for emergencies, and that the pizza with the guys is not an emergency. An emergency is when the car breaks down or they need some unexpected supplies for school.
Also teach them how to pay the bill. The bill must be paid every month on time and if possible paid in full. Make them understand that if they just make the minimum payment every month, pretty soon they will have the college student credit card at the maximum limit and it will never get paid off. Let them know how that will hurt them, because you and I both know it will.
There is so much to know as well as teach you college student about credit. If it is a difficult subject for you, go on line and do some research yourself. You know there are some particulars you know to do or not to do. To fill in the blanks research it. The financial world has changed so much in the last twenty years or so, there is probably something out there you will learn as well. What ever the situation with you and your college student do not let this teaching opportunity slip by. We have a responsibility to teach them what we know, even if your experience was bad, they can learn what not to do from you.
Now is the time to encourage our kids. Encouragement will go a lot further then discouragement. You know if they want it they will get it any way. So, have the encouragement and they will let you given them the so needed advise. Give them a chance, you will be glad you did.
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