Today, many people are realizing just how much society is geared towards credit; People use credit cards every day to help them buy things they don’t really need or have the money to purchase at the time. Loans are acquired to help buy the bigger items like homes and cars. Credit is not only a want but it is necessary in many aspects of life in today’s world. Therefore, it is important to teach our young people the correct way to use this credit. I go into high schools in my area to do a class on how credit affects you, how to build it and how to maintain good credit. You would be amazed at how little our juniors and seniors know or understand credit.
So what exactly are we teaching young people today about money and credit? Well, I can tell you from personal experience that my four year old granddaughter thinks that if you are out of money, you can just pull out your wallet, take out a plastic card and go get more money out of a machine. Every time we go into town, there is an expectation from my grandchildren that they will come how with something new. It may be a new Barbie, shoes or clothes. Even worse they may beg to go to the coffee stand and order fruit smoothies. I am sure I am not the only grandma out there that likes to indulge her grandchildren. However, there is a huge need to instill in young people the need for saving and buying things as we can afford to buy them. We don’t want them to have the unrealistic ideal that a card will get them everything they want. I am not saying that there is anything wrong with using credit cards. It is important though that all, young and old, have the knowledge to use them responsibly.
So are we teaching our little children and our young adults the power of credit and how it can help us when we really need that new car? Or, are we teaching them to use those credit cards and other lines of credit to buy whatever we want when we want it?
