From the early childhood on, we try to teach our children the basic knowledge for adult life how to keep room in order, how to eat healthily, how to communicate with people. Modern life requires that parents should start teaching kids how to spend money, particularly, use credit cards as early as they are able to comprehend it.
Toy manufacturers present Barbie shopping kit including credit cards, play Visa card with an electronic “pod” for storage of financial data, new versions of Monopoly with a credit card and many more All these toys are claimed to bring up credit card understanding in kids. But the acute problem with children and credit cards is that they often consider the plastics to be free money, a magic means to receive money from a machine. How can any of us start credit education of our children?
Toys are a great thing, but they cannot teach children abstract thinking. Board games is a step to understanding how money works, but the parents should also do a great deal to foster credit card wisdom in children. Living in a country where credit card debt is the greatest disaster, we should make our kids understand that money cannot appear from...
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