When you begin at an early age to teach your kids the value of money and the importance of financial responsibility, you are fostering a healthy development that will help them in their future endeavors. It's more important than ever to teach your teen how to be credit card savvy in today's economy. Good credit means a lot and helping your child understand this at a young age will prepare them for when they go off on their own. Here are some tips on how to reveal the importance of financial responsibility and encourage good credit card habits.
Tip 1- Start talking to your teen about what it means to live in the constraints of their financial realities. Discuss the difference between needs and wants since many teens feel the need for instant gratification. Explain that it's more important to live within your means and earn what you spend, as that is the reality for most American families.
Tip 1- Start talking to your teen about what it means to live in the constraints of their financial realities. Discuss the difference between needs and wants since many teens feel the need for instant gratification. Explain that it's more important to live within your means and earn what you spend, as that is the reality for most American families.