It is somewhat surprising that in this day and age parents often overlook the importance of teaching their children about debt and how to use it safely and effectively. For most consumers, the old adage that nothing is certain in life except death and taxes can be amended to read: nothing in life is certain except death, taxes, and debt.
Think about your own circumstances. How often have you had to use credit? Homes, automobiles, furniture, the list goes on and on, and there is no reason to believe that your children will not have to use credit as they grow and begin their own families. As informed parents and consumers, you probably already know that millions of people find themselves in financial trouble, and a lot of this can be traced back to a lack of education in how to handle debt and credit responsibly.
It is not enough to assume that schools will teach your child what he or she will need to know when it comes to personal finances. The fact is that while schools will happily teach students the basics of commercial finance, they often overlook the most fundamental issue of all, and that is teaching a person how to handle his or her own, personal,...