The debt for young people is rising, more than ever before as younger people are getting more and more credit card offers in the mail.  This is what got me in trouble.  While in college I was a student with not very much money, a part-time job and credit card offers piling in the mailbox everyday.  I lived on campus and even there you signup these little pieces of paper to get a free $2.00 T-shirt with you school logo on it and sure enough a few weeks later you have 5 - 12 credit cards ready to go in your mailbox.  This alone put in me behind early in life, just to suffer to dig myself out later on.

Teach your children the value of money and how credit cards and ruin their future if not used properly.  I would do this early on, by teaching them that money does not grow on trees and that the “urge to buy” something that costs more than you have is a bad idea and to let it go for 24 hours and think if you still want it or not.

Have your children work for their money, by doing some easy chores around the house, pick up a paper route, help neighbors.  Do not just hand them money when they need money, this will teach them bad money handling skills later in life and you will see the credit cards mounting up.

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