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What Advice Should You Give To Your Parents Regarding Credit
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MANAGE MONEY BUDGETING We want to teach our kids about managing money but we should also be teaching them about the importance of a good credit score By Brett Holzhauer Edited by Jess
Fortunately talking to your parents about their finances isn t as difficult as it might seem That s because there are several ways to start the conversation Here are 10 tried and true
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If you re concerned about what your children might do with access to your credit line then simply don t give them the actual cards Add your children as authorized users and then when the
Handling money Kids need the experience of handling and spending money They will watch how you handle purchases so be mindful that they re learning from you even when you re not actively teaching them Banking Just as you manage your own account guide your kids by setting up a custodial account for them
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What to do and not do with kids and credit Parents and guardians can do a lot to help kids learn about credit scores credit reports using credit cards responsibly and borrowing wisely for milestone purchases DO model good practices yourself and make them visible to your kids
Getting your own phone plan You may need good credit if you want to get off your parents plan and get a new cell phone and monthly payment plan Obtaining insurance In some states your credit history can impact your insurance rates Also having good credit could lower your monthly premiums
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https://www.kiplinger.com/slideshow/retirement/t...
Fortunately talking to your parents about their finances isn t as difficult as it might seem That s because there are several ways to start the conversation Here are 10 tried and true
https://www.forbes.com/advisor/credit-score/...
However it s a safe bet your kids haven t learned all they need to know about a vitally important topic credit Here s what you need to make sure your teenagers understand about credit
Fortunately talking to your parents about their finances isn t as difficult as it might seem That s because there are several ways to start the conversation Here are 10 tried and true
However it s a safe bet your kids haven t learned all they need to know about a vitally important topic credit Here s what you need to make sure your teenagers understand about credit
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