Give Me Some Credit!

I think you are very wise to be teaching him to be responsible with his money! At 16 when I got my first job, my dad had me open a checking account so I could learn how to manage my money. Then when I was a freshman in college, he told me to get a credit card and charge my gas and groceries on it but that was it. I paid for it when the bill came in because he threatened my life if I didn't.

I'm so thankful for that lesson, even if it was a huge pain in the ass. Compared to many of my friends, we are in a good place financially. The Grouch will thank you one day!

Although I did find it funny that he had no idea that he could address just any envelope to send the check in.

I, too, was driven up to the local bank at 16 to open up a savings account from which I could make a few free withdrawals a month. I got my first credit card a few years later. I believe it had a 500 limit. I did well.

I think kids absolutely need to learn how to take control of their finances. Most especially, they should learn how NOT to use ALL the credit given to them. (Because credit card companies want you in perpetual debt now, they give high limits to first-time card users and they charge whacked-out fees when the kid misses a payment, because we all know they will.)

My favorite part, though, because I can now see how antiquated the USPS is becoming with our youth, is "The address goes where?"

I know that this is coming with the Diva, but I am horrible with money and I am dreading it already. I am hoping that by the time she gets to the age, hello next year!! I will be ready…

Learning how to write a check is a good thing. Though now that you mention it, it does seem a little archaic next to those shiny, plastic cards…sigh.

Someone needs to teach the kids how to balance the account as well… Actually I explained balancing checkbooks in my Speech 111 class — I was an adult student and most of the students were kids who didn't have a clue about how to do it, so they actually paid attention to my speech!

If you're willing to adopt, I could totally find $25 worth of stuff to charge every month

Without a cosigner and with no income hubby was able to rack up $25,000 in credit card debt in college. We only finally paid it all off after more than 8 years of marriage.

I'm TERRIFIED of my kids getting credit cards. They're going to hear a lot about it as they grow.

The really sad part is that my father-in-law has a master's degree in finance and is really great at financial stuff. He helped negotiate international financial deals during his career. But he never talked to his kids about it at all and ALL of them have had problems managing their credit & finances.

You're lucky yours are so nonchalant and unwilling about the whole thing.

When my oldest turned 13–yes, 13–she got a checking account, a savings account, and a debit card.

Every two weeks I deposit a set amount of money. One part is her allowance (which she earns and is not given), and the other part is her dog money. She is 100% responsible for buying dog food, paying vet bills, paying dog show entry fees, etc. Of course, I supervise her, but she is learning actual budgeting, bill payments, etc.

It is AMAZING how she is so responsible about money, how she understands the value of budgeting, etc. She is very ahead of her peers. And, no, I don't think 13 is too young for this. While I do not support the lack of child labor laws 100 years ago, I do think that the fact that 13-year-olds were expected and capable of doing so much more than today's teens is quite sad.

I remember they taught us to write checks in junior high, I couldn't even tell you what class it was but it included check writing and balancing a checkbook. I also learned how to score a bowling game. All useful actually. Honestly I rarely write checks anymore, most of our bills we pay online, no extra fees charged. But for those occasions when I do have to whip out the checkbook, it's good to know where all the pertinent information goes.

Oh, how I sympathize. We're not at the credit card stage yet, but that blasted Velcro invention is robbing my kid of every opportunity to TIE his shoes. Aaarrrgh.