This Is What Happens When Financially Immature Students Get a Credit Card

This Is What Happens When Financially Immature Students Get a Credit Card
Mary Hunt gives advice to parents who are considering bailing their children out of credit card debt. ESB Professional/Shutterstock
Updated:

Our kids are fortunate to be growing up in the most progressive and exciting time in history. Sadly, the very culture that offers them the world is also perpetrating this lie: “You are entitled to have everything you want, even if you don’t have the money to pay for it. It’s not a problem. You deserve it. Get it now, and you can pay for it later!”

There’s a huge consumer credit industry out there planning to give your kids their very own credit cards—personal passports into the abyss of consumer debt. This will not require your permission or approval, something that one reader is experiencing firsthand.

Mary Hunt
Mary Hunt
Author
Mary invites you to visit her at EverydayCheapskate.com, where this column is archived complete with links and resources for all recommended products and services. Mary invites questions and comments at https://www.everydaycheapskate.com/contact/, “Ask Mary.” This column will answer questions of general interest, but letters cannot be answered individually. Mary Hunt is the founder of EverydayCheapskate.com, a frugal living blog, and the author of the book “Debt-Proof Living.” COPYRIGHT 2022 CREATORS.COM
Related Topics