As we prepare to send our kids back to school, now is a crucial time to start talking to your kids about money. Especially for those starting post-secondary this fall. Once they turn 18, they might notice banks and credit card companies are beginning to offer student credit cards and back to school deals. These can be tempting offers, but before they sign on the dotted line, let’s make sure we’re educating our kids on what a credit card is, how interest works, and how this all impacts your credit score.
How they manage their credit card and credit score now at 18, could greatly impact them in a few years when they go to finance a car or apply for their first mortgage. Let’s make sure we’re setting our kids up for success.