Give them space to make some mistakes so they can learn from it. I know you want to protect them, but you are making their world to perfect

CC are not evil, nor are CC companies. What happens is irresponsible people use CC. I left home at 16 and my mom certainly didn’t want me out in the world without a CC. She also taught me how it worked, explained in depth. Same with sex.

Just cause you don’t like something, doesn’t mean your kids won’t. And worse just because you don’t believe in it doesn’t mean your kids will as well. Life comes back to bite you in the behind. I think you might as well give your kids every tool out there and educating them as throughly as possible.

And NCN you rock if you buy your kids a car. So no car loan? This I might disagree with, I’m thinking that maybe my kids might have to have a car loan so they never get one again after that first loan. I learned a lot by having my first and only car loan. Not for a lot but for some. And yes I could have gotten a used car for $5k and paid cash, but I didn’t. But I also was 20 and lived 3k miles away from any family. So I didn’t have a car to go car shopping, I had to depend on friends. I didn’t have an adult to help me car shop and the dealers were awful. Not knowing anyone, nor any mechanics since I had no car, I didn’t exactly have stellar reccomendations for how to buy a used car. When I have kids I will hope to be near enough to help them buy a car. And not throw them to the sharks, which my parents didn’t want to but it couldn’t be helped, unless they flew all that way to help me, buy a car.

Many people have fallen vicitim to the “credit trap,” but debt, in some ways, is just like anything else- if you know how to use it properly, it can be a wonderful thing. If someone doesn’t carry a balance on a credit card, doesn’t pay an annual fee, and always pays off the outstanding balance on time, then they basically get a 30-day interest free loan from the credit card company and possibly some cash/bonus points if they have a rewards card of some sort. I don’t have kids yet, but I fully intend on getting credit cards for them when they are financially ready and mature enough so that they can learn how to properly use credit cards as well as establish a credit history at a young age instead of being sheltered from the dangers of unwise credit card usage.

I didn’t mean to offend you.

One of my daughters is 16 years old. She is an honors student. Her GPA is 3.7. She takes Japanese, Trig, Honors English, and will be doing running start next year–FREE college! She also is Captain of her color guard,works a part time job, and in her “spare” time she volunteers for the National MS Society and the ADA. All around great responsible kid (yes she is a kid to me).

I STILL will not help her get a credit card when she turns 18.

I will, and do explain to her how credit cards can really dig her deep into debt, about interest rates, how one slip can take years to re-coup from and my negative experience with them. And how important it is to live within her means.

Agree with the poster that said, you can teach your kids about drugs with out giving them a joint, so you can teach your kids about credit without getting them a card.

As far as “work”.. my kids have chores, responsibilities, etc. I’ve been working since I was 14, so I know about work. My kids’ jobs (before 18) will primarily be helping around the house and going to school! My daughter is a competitive gymnast, and she goes to practice, 4 times a week, and has more dedication than most 20 year olds.

I think there is such a think as helping a child too much. I think you are looking at your dear, sweet children, and not realizing they will be teenagers.

I fully believe in my children having jobs and contributing to their college education and their getting their first car. (and my kids are teens and two of them have jobs and ING accounts to save their money)

I think EARNING the money themselves gives them much more respect for the hard work involved in life.

I don’t want my children to feel “entitled”. Life just isn’t handed to them.

While I know you adore your children (I remember when my kids were little)..life isn’t a world of people telling you how much they love and adore you and how special you are many times a day. It’s just not.

I’d never help my kids get a credit card. No way no how.I think that’s just asking for trouble.

Remember young adults brains are not fully developed, and their judgement can be lacking, and as teens, even late teens, can be heavily influenced by their peers. Parents are just well, not all that important to them.

College I think a “quality” education is all relative. I think paying for a private univeristy is incredibly expensive (try $40K for one year of college–in today’s dollars) and I really do not think it is worth the $$ expended. I think one can get a quality education at a public university, and be just as employable when they graduate.

Kids need their wings.