August 27, 2018

I’m Miriam  Neff-with STARTING OVER FINANCIALLY,-and I’m Valerie Neff Hogan, and we’re here to talk about money

M Educating teens about credit cards, their value and risk is important.

V We’ve proposed that , if they must have credit, you might add your teen to your card with a $100.00 limit.   Suppose that he orders a $10.00 pizza.

You charge a $10 pie but forget to pay the bill. Then you’re hit with a $40 late fee, and before long that pizza costs five times as much.

 

The analogy is true for bank accounts.  An overdrawn account means and overdraft charge.  Learning to be prudent with that charge card and that bank debit card, are lessons worth learning early.

 

M Proverbs 22: 7.  Borrowing against that credit card, not paying it off fully, you become the slave of that lender.

PODCAST