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July 17, 2007


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I agree with 4 and 5, especially number 5 is important. Medical bills can be huge.

And I agree with the sub-text, quote:
That's why it's important for parents to teach their kids about handling money

Teach your children the real value of money and what the pitfalls of credit cards are.

You see more and more people having huge debts on credit cards, most of the time on items they can't afford. If you teach your children (through your own example) that it is ok to buy things on credit (and not have to save for anything) then most likely they will also have a huge credit card debt later on. (Let them use cash instead of credit cards!)

I agree with all five of them! (I have to say that as I'm Michael Rubin.) Nice to "meet" everyone.

More importantly, the lack of basic financial literacy is an enormous problem in this country and only getting worse. As a parent of a 2 year old, I've already learned how kids constantly learn: from both their parents and from society at large. You can't count on the best behavior of strangers, so you better be the role model you want them to have a chance of following later in life. True in life, true in finance.

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