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Regular Contributor
kims
Posts: 212
Registered: ‎06-30-2007
0

Wouldn't it be great...

If personal finance and understanding "credit" were a mandatory class for high school students?  I'm soooo wishing right now that at 17 I would have had someone teach me how important it is to be financially responsible.  My parents sure didn't ~ not that I can blame them for my stupid decisions, carelessness and general aloofness when it came to credit cards.  Their blow and go lifestyle didn't prepare me well.  I remember thinking several times when I couldn't or didn't make a payment "What can they do to me...put it on my credit..hah..that's already blown to hell"  Now I'm having to eat that thought and it sure is bitter.  I'm going to make sure our sons know the meaning of healthy credit and being financially responsible. 
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Frequent Contributor
flygirl
Posts: 440
Registered: ‎06-11-2007
0

Re: Wouldn't it be great...

Amen to that.......my son is slowly but surely learning the value of a dollar and how to use it responsibly. He currently wants a Xbox 360....although he has all of the other gaming consoles. A year ago, I would have run right out and bought him one. After I realized that he thought he was just couch decoration at our house, and didn't feel the need to contribute to daily chores, he now has to "earn" money to get the nonessentials in life. There is a chore list hanging on the refridgerator, and if they are not done on a daily basis......no money for him!!! He is soon to be 15, and getting that allowance on Fridays has sure been his priority lately in order to take the girlfriend to the movies. I also opened him up a bank account, and half of the money that he receives for birthdays, Christmas, good grades, etc. has to be put in it. I have also given him motivation to do well in school. He will be in 10th grade and currently has a 3.8 GPA. I informed him that if he continues with his awesome grades and gets a scholarship, then the college fund his father and I have been contributing to for the past 10 years will be his to buy a brand new car, put money down on a house,etc., as long as it is used wisely!!
 
Kids do think that money grows on trees. I remember when he was about 4 years old and he saw something he wanted on TV. I told him that I didn't have the money for it right now, and his reply was "That's ok, don't you have checks?"  HAHA...  Start teaching them now folks............
Regular Contributor
Jacque383
Posts: 131
Registered: ‎07-05-2007
0

Re: Wouldn't it be great...

Gee FlyGirl, we must be sharing the same kids! My kids response was either "Just write a check" or "Mom, all you gotta do is go the ATM and it spits money out for you...."  LOL
Established Contributor
trinigal
Posts: 578
Registered: ‎06-18-2007
0

Re: Wouldn't it be great...



kims wrote:
If personal finance and understanding "credit" were a mandatory class for high school students?  I'm soooo wishing right now that at 17 I would have had someone teach me how important it is to be financially responsible.  My parents sure didn't ~ not that I can blame them for my stupid decisions, carelessness and general aloofness when it came to credit cards.  Their blow and go lifestyle didn't prepare me well.  I remember thinking several times when I couldn't or didn't make a payment "What can they do to me...put it on my credit..hah..that's already blown to hell"  Now I'm having to eat that thought and it sure is bitter.  I'm going to make sure our sons know the meaning of healthy credit and being financially responsible. 


YES!!!!
Geez Louise! I'm just finding out what half these "baddies" are and how they affect my life and it's ridiculous. Had I known then.......lawdy!
 
Wait tillI I have a kid....oooooooh!  That poor child!!   

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