Tuesday, June 06, 2006

A College Education on Creditcards

Creditcards are sold to college students, even though 24 states have passed legislation between 1999 and 2001 limiting solicitation, they are still targets. The issuers of creditcards want to get them young. If they see creditcards as part of life, they'll see creditcards as a necessity.

Teach your children, starting in first grade, that creditcards are NOT money. Teach them that creditcards are to be avoided. It is going to take an exaggeration of this because there is so much advertising on TV and in the mail, not to mention the attitudes taught in our public schools when economics are taught. Then there is peer pressure to deal with. As parents, we must counter the trend. A teenager with creditcards can bankrupt their parents. It is documented in court cases that parents are held responsible for their minor children's debts - regardless of the illegal contracting of the minor.

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