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TOPIC: Teaching Your Children

Teaching Your Children 4 weeks 1 day ago #1

  • FrankN
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I have a 4 year old niece and I am trying to teach her to save her money!
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Teaching Your Children 2 months 1 day ago #2

  • FrankN
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Happy Holidays to everyone! Is anyone planning to give pre-paid cards as presents? I am curious if that is still popular.
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Teaching Your Children 3 months 2 days ago #3

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It was my niece's birthday this weekend and I bought her a fake credit card. She loves it!
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Teaching Your Children 4 months 1 day ago #4

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I have a 3 year old niece an my bought her first piggy bank! I told her to save her money, and her mom told me she has saved over $5 in 3 weeks!
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Teaching Your Children 4 months 4 weeks ago #5

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Someone sent this to me and thought this was a pretty good overview.

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Teaching Your Children 4 months 4 weeks ago #6

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I think roughly 15-16 is the right age to get a child your first credit card.
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Teaching Your Children 8 months 1 week ago #7

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What does everyone think the appropriate age is to get your first credit card?
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Teaching Your Children 8 months 1 week ago #8

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I definitely think there could be more out there especially for millennials. FinanceGlobe should start one!
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Teaching Your Children 10 months 3 weeks ago #9

  • Wanderer
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Great undertaking. In my researching one of the comments I keep seeing from the twenty year old age bracket is the lack of any training at home or in school on how to manage daily living finances.
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Teaching Your Children 10 months 3 weeks ago #10

  • FrankN
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I have started helping out with Junior Achievement, which I think is a great resource for young children to help them understand about personal finances!
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Teaching Your Children 1 year 6 months ago #11

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I think so. Its also important to start early so they can get a good foundation on what is right and wrong and when you should/shouldn't use a credit card.
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Teaching Your Children 1 year 6 months ago #12

  • JGibbs
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Moneyes wrote:
So which camp are you in? The one that teaches children responsible credit practices for the sake 'fitting in"? Or the one that teaches children that the cycle of debt is a financial redundancy?
I'm not sure I understand that one, but adults struggle to handle credit so I sure wouldn't expect a child to grasp all the rules and nuances of debt. Had my parents tried that with me, I know I would have worried to death.
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Teaching Your Children 1 year 6 months ago #13

  • Joker
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I agree with Frugal Fran on this point. I don't want to start it for them because isn't the whole point to this action for them to learn the ins and outs of credit? Starting with when you need credit, all the way through to paying it off and the satisfaction you get, shouldn't it be their choice and you can back them up with information and a co-sign if necessary.
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Teaching Your Children 2 years 4 weeks ago #14

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Depending on the age, it does begin to build and establish credit for the child. Also at 18, they could apply for a credit card themselves to really start building credit.
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Teaching Your Children 2 years 1 month ago #15

  • Breakinger
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FrugalFran wrote:
I don't think it helps them build their own credit, but I could be wrong about that. My plan was to co-sign something for her after she turns 18 and she's shown me she can take responsibility for a credit card or loan.

It would be nice if it did help them build credit, though, wouldn't it? I think that is one of the hardest things for them to deal with when they are first starting out. Co-signing for them is another great plan. That is how I started out. My mom co-signed the loan for my first car.
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