Help your kids understance personal finance to save headaches down the road

Before your child goes off to college, or off to the first “real” job, help them understand their personal finances. You don’t want them charging with that all too easy to get credit card like there is no tomorrow and then have to face possible bankruptcy. Here are some facts that can help them manage their money more wisely…

Checking accounts include fees for overdrawing the account and even if you put the money in today, it may not be available for use right away due to bank processing.

Debit cards can carry fees when withdrawing from an ATM. Make sure your pin and card are safe…never disclose and never loan it out, even to your new girlfriend who says she needs it to get a Coke at the local 7/11.


Credit cards operate on compound interest and it doesn’t take long for it to get way outta control. Choose a low-rate, no annual fee card with plenty of grace periods to help avoid finance charges. With constant misuse, Big Brother is watching and your credit history will be affected by bad credit card behavior.

Just a little time explaining how to use these financial tools may save you some headaches later on.