We’ve all heard stories about college students who racked up thousands of dollars in credit card debt. These cautionary tales remind parents about the importance of protecting their children from making bad financial decisions. But, even more so, these stories serve as reminders that newly minted high school graduates can make “adult” decisions that will haunt them for years to come.
As millions of high school seniors prepare to graduate later this month, it’s a natural time for these young adults to look forward to greater independence, responsibility and the realities of adulthood. This is also a natural time for parents to sit down with their children to talk about the dangers of credit cards and how to use them responsibly. As part of this conversation, parents need to educate their children about how credit works and empower them to take an active role in their financial future by using credit responsibly.
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