- Use Love and Logic to teach your kids how to manage money -
Love and Logic Insider's Club
Need Solutions? Call 800-338-4065 or visit LoveandLogic.com
For Parents For Educators For Facilitators Shop Conferences
 
 
Click to play
 
Are you aware that you can hear an audio version of the Insider Club articles? Click the download pictures button on your screen. It will give you something to listen to while wrapping your holiday gifts.
 
We hope you all had a wonderful Thanksgiving! With Christmas just a few weeks away, you may be having conversations like this with your kids:
 
“What do you guys want for Christmas this year?” Twelve-year-old Josh was quick to answer with a long list of the latest video games and electronic gadgets. Fourteen-year-old Jennifer answered. “Oh, I’m not as greedy as he is. I’m only asking for one thing this year.”
 
Astonished, their parents looked at each other, each thinking how much their daughter had matured this year. “What is that, sweetie?”
 
“A credit card. All my friends have them now.”
 
Ouch! Is a child this age ready for that responsibility? The answer is that nobody is ready for a credit card until they have practiced, and mastered, the use of many financial tools including:
  • experience with managing an allowance
  • many experiences paying back small loans to their parents
  • experience with late payments and the consequences
  • experience with repossessions by the Bank of Mom and Dad
  • a solid understanding of interest rates
  • practice with a prepaid credit card
  • an understanding that it takes over 35 years to pay off a $4,000.00 credit card bill if only minimum payments are made each month
Handing a credit card to a young person without this training is like giving somebody a car without driving lessons.
 
Is this an article just about teenagers? You’re right; it isn’t. Start training your kids early. Check out the chapter on allowances in our book Millionaire Babies or Bankrupt Brats?
 
 
Thanks for reading! Our goal is to help as many families as possible. If this is a benefit, forward it to a friend.
 
Jim Fay
 
facebook.com
 
 
 
Don't miss Charles Fay in
 
See Jim Fay in
 
Graduate-level credit is available.
Register online or call
800-338-4065.
If we're not in your city,
check out a
Love and Logic 
teaching parenting classes
in your area.

Exclusive Member Discount
 
(Book) 
 
25% off to Insider Club members only: $18.71
Regular Price $24.95
 
Enter
coupon code "120314"
at checkout

 Build your next summer's family vacation around the:
 Next June join us at
 
800-338-4065
for more information.
 
Facebook
Twitter
Pintrest
YouTube
For helpful tips, special promotions, and event announcements, join Love and Logic® on Facebook, Twitter, Pinterest, and YouTube.
Funny Parenting Stories and Funny Stories from the Classroom: amusing audios available for your listening pleasure, compliments of Love and Logic. Visit this page to download and enjoy.
 
© 2014 Love and Logic Institute, Inc. All copyright infringement laws apply. Permission granted for forwarding and/or for a single photocopy or electronic reproduction of one email tip only. Please do not alter or modify. For more information, call the Love and Logic Institute, Inc. at 800-338-4065.
 
View as Web Page
Love and Logic Institute, Inc.  •  2207 Jackson St  •  Golden, CO 80401
http://www.loveandlogic.com
Subscribe    Unsubscribe    Preferences    Send to a Friend    Report Spam
Powered by MyNewsletterBuilder