Money Concept
I use a lot of my credit cards, especially if I’m making an expensive purchase because I don’t like to bring a lot of cash with me. Lately, my kids will also ask for shopping cards from me and pretend that they are credit cards. *slap head*
They really like to imitate us so I started to teach my boy about money. Whenever we have loose coins, we will give it to him and he will put them in his piggy bank. I have no idea how much is it inside but it has been very heavy. One day, we will bring him to the bank and ask him to deposit the money into his account.
I haven’t talk to them about credit cards yet because they maybe too young to understand the concept. However, I hope that when they have their own cards next time, they should understand the purpose of using the cards is the same as using their money, but not just getting the things without paying for them first. Even if there are Bad Credit Credit Cards, I hope that their credit status will not be affected. Off course, if you have a bad credit, you can still get bad credit credit cards, but the interest rate will be higher.
So, how do you teach your kids about money?
