...if you were 18

[kmids]

So I take care of my little cousin. She will be 18 soon and I want to teach her about why credit and savings and overall financial responsability are important. Obviously she has zero credit and she can't piggy back because in the most responsible person in my family and I'm only just starting to fix my credit.

So, if you were 18 again like my cousin, what would you do to set up your financial future?

[myjourney]

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@kmids wrote:
So I take care of my little cousin. She will be 18 soon and I want to teach her about why credit and savings and overall financial responsability are important. Obviously she has zero credit and she can't piggy back because in the most responsible person in my family and I'm only just starting to fix my credit.

So, if you were 18 again like my cousin, what would you do to set up your financial future?

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Start by introducing them to this forum the mistakes we have made and learned from may enlighten your cousin to do better from the start.

Then if they don't already have a checking account setup one with a debit card so they can learn only spend what she can afford.

I'm sure others will soon chime in with other good ideas.

Best wishes

[CashOnDelivery]

Start with a Secured Credit Card at a credit union and avoid applying for First Premeir, Credit One or any high interest rate CCC's for that matter. My first credit card was a secured credit card and it later became unsecured and I receive my deposit back. The possibilities are endless honestly...

[diva_1515]

I would make sure to pay my bills on time each and every month, set up a savings account and never touch it! I would have a budget and stick to it. I would be more frugal, not eating out as much, spending on stuff I didn't need, and not worry about keeping up with the Jones'. I would open a CC with a credit union and use it for emergencies only.

I have a younger sister and I tried to educate her from my mistakes. She fell in "love" with some guy and cosigned for a bunch of crap neither one of them could afford. Now she is in debt and her credit ruined and she's only 21 SMH.