Dreamstime

When It Comes To Kids, Cash IS Still King

April 12, 2018

One of the best lessons you can teach your children is the value of money and many offer advice of giving your child a credit card to learn that responsibility.  However the best route is to use cash.  In an ever increasing cashless society, paper and coin money finite, unlike plastic. But paying your kids cash for doing chores isn't enough.  As parents, we should also be using cash in front of our kids to show them that there are limits, and choices must always be made. As they get older, help them to obtain their own credit card. Find one with a low interest rate. Don’t cosign for the card because you might ruin your own credit. Make it extremely clear to them that yes, it’s real money and yes, they must pay it back on time and in full.

SOURCE: Lifehacker

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