When I was growing up, my parents only operated on cash. I really always thought that was lame. After all swiping that credit card is so cool!! So, as soon as someone offered me a credit card in college I say “yes!! where do I sign?!?”. And that was the beginning of the end.
I was paying my own way through college and was blessed to have plenty of financial aid, work study, and scholarships to not have to have student loans, but I had very little extra money, so I got credit, and more credit, and more credit to buy things.
As I told you in the beginning, I was so gracious to gift this debt to my marriage. Awesome, I know.
If you think about it cards are all most kids know, I mean who uses cash anymore? Everyone has a debit card right?? Do your kids know the difference between that card and a credit card? Do they understand that when you use a credit card you are spending someone else’s money. I mean good grief, even monopoly has a debit card version!! I have had my kids say to me – in response to me saying I didn’t have the money – “just use your card”. ARGH!!
So, although we are still not perfect with the credit cards, we do try to be open to our kids with the reality of debt.
If you have teenagers like we do that are months away from college life, tell them to “just say no”. Maybe you remember – those people are vultures. “Have a free t-shirt, and sign-up for a free credit card while you’re at it.” FREE – right – if you don’t ever use it!!
The rich rules over the poor, and the borrower is servant to the lender. -Proverbs 22:7
Train up a child in the way he should go, and when he is old he will not depart from it. -Proverbs 22:6
Parenting requires training friends.
Your story is EXACTLY what I did too, Denise. I worked hard but I took lots of credit card offers to pay for my books, etc. and ended up with a lot of debt by the time I got married. I don't want my kids to head into adulthood thinking credit is an option for them. I love this series you are writing about!!!!!!