You decide!
------Original Message------
From: Love and Logic Institute, Inc.
To: -AAndrea Gooldy
ReplyTo: Love and Logic Institute, Inc.
Subject: Just a Credit Card, Thanks
Sent: Dec 5, 2012 12:38 PM
We hope you all had a wonderful Thanksgiving! With Christmas just a few weeks away, you may be having conversations like this with your kids.
"What do you guys want for Christmas this year?" Twelve-year-old Josh was quick to answer with a long list of the latest video games and electronic gadgets. Fourteen-year-old Jennifer answered, "Oh, I'm not as greedy as he is. I'm only asking for one thing this year."
Astonished, their parents looked at each other, each thinking how much their daughter had matured this year. "What is that, sweetie?"
"A credit card. All my friends have them now."
Ouch! Is a child this age ready for that responsibility? The answer is that nobody is ready for a credit card until they have practiced and mastered the use of many financial tools including:
Experience with managing an allowance. Many experiences paying back small loans to their parents. Experience with late payments. Experience with repossessions. A solid understanding of interest rates. Practice with a prepaid credit card. Understanding that it takes over 35 years to pay off a $4,000.00 credit card bill if only minimum payments are made each month. Handing a credit card to a young person without this training is like giving somebody a car without driving lessons.
Is this an article just about teenagers? You're right. It isn't. Start training your kids early. Check out the chapter on allowances in Millionaire Babies or Bankrupt Brats.
Thanks for reading! Our goal is to help as many families as possible. If this is a benefit, forward it to a friend.
Jim Fay
Parents and Teachers
Don't miss Jim Fay in
Houston, TX on Monday, 12/10.
or in
Seattle, WA on Tuesday, 1/15
Graduate-level credit and CEUs are available.
Register online or call
800-338-4065.
If we're not in your city, check out one of our
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Discount price to Insider Club members only: $18.71
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2013 Summer Conference
Cutting Edge Solutions to Today's Most Common Parenting and Educational Challenges
Do you like to have fun while learning new skills? If so, don't miss the opportunity to join us in Denver, CO for our 28th Annual Summer Conference.
June 20-22, 2013
17th Annual Administrators Conference
Creating a Love and Logic School Culture
Gain practical skills to take the stress out of running a school. Regardless of the discipline or instructional models you are using, Love and Logic techniques will enable your staff to implement them more effectively.
July 11-13, 2013
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Funny Parenting Stories and Funny Stories from the Classroom: amusing audios available for your listening pleasure, compliments of Love and Logic. Visit this page to download and enjoy.
© 2012 Love and Logic Institute, Inc. All copyright infringement laws apply. Permission granted for forwarding and/or for a single photocopy or electronic reproduction of one email tip only. Please do not alter or modify. For more information, call the Love and Logic Institute, Inc. at 800-338-4065.
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