What . . . my child might have a credit report ???

 SUMMARY 

Teen:  "Mom, can I have a credit card?"
Mom"No"
              OR
Teen: "Mom, can I have a credit card?"
Mom: "Yes"
 
What do these two answers have in common?
Either answer has the potential resulting in your child having a credit report in their name.
 
What's a credit report?  
Remember that diary that you may have kept growing up?  That's almost what a credit report is.  It's a "file" that holds all the information on your debt and payment history.  
 
How can they have a credit report on your teen?  
Possibly, here are 2 ways:
  • if you have added them as an "authorized user" on your own credit card, they might have a report in their name.  Some issuing companies report financial information for both the primary holder AND any authorized users.  You'll need to check with them.
  • or their identity may have been stolen resulting...
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Critical Checklist for your Teen and their Spending

Parents:

"Mom, can I have a credit card?"  

What a difficult decision it is to make as to whether to set your teen up with a connection to your (authorized user) credit card.  Who pays?  What is it for?  Is it to help you with family expense and ease?  

This video covers 3 power moves you will want to strongly consider if moving forward makes sense for your family.  

We think it can help you move the needle on safety, spending, and cross checks!

What else should you cover before they are gone?  
8 Critical Parent Teaching Steps before they fly off     We put our most strategic guidelines and concrete moves in this article. 

Have a great week.   And as we say ...

You CAN Have Success in the Middle of it ALL !

Pam and Holly
JellyGeneration Team 
 
PS 1: Like This?  Help us stay AD-FREE
If you found this helpful, would you mind hitting the "like" button?  We intend on keeping our educational...
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The $100,000+ Question

Carrie:  Mom, I’d like to go to ABC College, I think.
Mom:   Honey, how much does it cost?
Carrie:  Well, their website says it is $25,000 per year plus incidentals. 
Mom:   Incidentals?  Let’s assume that’s $5,000 for transportation, clothing and miscellaneous.
Carrie:  Ok, that’s $30,000 per year.
Mom:   {pauses}
Mom:   Honey, is it worth $120,000 to do this?

The above conversation is happening everywhere.  

But generally, what conversation is NOT happening? 

One week later the smart mom asks . . .  

Mom:  honey, after applying scholarships, loans and the like, we are still looking at $25,000/yr which puts us at $100,000+ for four years.
Carrie: Mom, does that work for us?
Mom:  We will try to swing it with your help, of course. 
Mom:  {pause}
Mom:  Honey, have you thought about whether college is right for what you want to do?

 So what do...

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Don't Teach Your Kids to Budget

Budget.  That’s right . . . budget.    Things have changed. 

Have you used that word 6-letter word “budget” lately?  Go ahead and be honest with yourself.  You probably have.  But let me make a case on why you need to stop.   Times have changed.   Consider the following:

"Budgets" are Constricting

“Mom, I need $20.”   (funny how it used to be they only asked for $10!) 

“Honey, I just gave you $20 like…yesterday.  Can’t you budget your money?”

And there it is.  That word, that horrible sinking feeling word. The implied connotation to our kids and our “almost growns” is . . .  you can’t buy the things you want, you will never have enough money, and you are a one emoji away from busted.  Life is one trick multiple question with “none of the above” always included. 

Need stats to support this? 

...

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EASY Debt Example to teach your "almost grown" kids

 SUMMARY

Money and "stuff" are the granddaddy of all motivators.  Calling Santa . . . !

Thrill of Victory (the purchase) AND Agony of Defeat (the debt)

Movies, books, gas, electronics.  Where's that big guy in the red suit?  Well, he's not around, but those wishes for "stuff" ARE. Even if you aren't a believer in credit cards, and you prefer debit cards or cash, nearly everyone has a credit card or so it seems to your child.  They are soaking up illustration by illustration of credit cards in real time.  It's like an action movie but instead of Tom Cruise being the hero, it's a credit card.  

At JG we want things made easy.  Last lessons are sometimes difficult to teach but today you can learn how to teach DEBT in a dramatic and easy fashion.  Just an fyi, we are not against credit cards.  We ARE against credit card debt and credit card abuse.  More on that another day.

Please watch the 4 minute video if you can.  We...

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NOW is the time to set up Voting Eligibility for your 18+ Year Old


 SUMMARY

We’ve talked so much in the past about how to instill in our kids the values and motivations to be successful.  As parents we want our kids to be achievers, take responsibility, and own the world around them.  You’ve worked hard to instill in them a reliable set of practices, habits and commitments that will help carry them through to life, marriage, and maybe grandkids! 

Now comes an important task that you can't do until they are near aged 18.  

Do you remember when they first voted at their high school for class officers?  Or helped a friend run for office?  Hopefully your kids school did that.  I have to tell you that I never had the courage to run for a school office.  I was camera shy in  high school – and here I sit in front of a camera.  Who knew!  I had my finger in many pies, but just not the running for office one.  But my kids did. 

Little did I realize, but after they won...

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4 Tools to use Now. You already own them.

SUMMARY:

Times have changed.  

Math Class        - Check
History               - Check
Language Arts  - Check

But what about how to quit using excuses, how to learn confidence, how to go proactive and conquer that next achievement or goal?  

A lack of confidence encourages mental excuses

But what about how to quit using excuses, how to learn confidence, how to go proactive and conquer that next achievement or goal?  

Have you heard this at your house?

  • "I don't have enough money."
  • "I don't know how to do that."
  • "I don't have the skills to try out for that."
  • "No way will I ever learn how to do that."
  • "Everyone will laugh at me. I won't be good at that."

The actual line to achieving confidence isn't what you might think.  It is learning to ask questions.  Those questions lead to knowledge.  Knowledge leads to confidence BECAUSE THEY KNOW THEY CAN ULTIMATELY FIGURE IT OUT.

But the trick we...

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Do those last remaining lessons for your nearly-grown offspring feel like . . .

SUMMARY

HELP!  Many a parent of a nearly-grown child feels there is still so much more to teach them, but need a creative idea on how to tackle it all.  

We've been there with our kids.  Despite our passion for helping parents and kids this age, we hit the wall (so to speak) on  how to get their attention to listen to those last critical lessons.  They didn't always want to listen to us.  

That's when we realized that we, or more specifically our kids, had/have a SECRET WEAPON to use.  Your kids (and you) have it too but odds are you haven't recognized it for what it is.  

But before we get to this SECRET WEAPON, if you didn't get a chance to view/read a prior session we taught that relates to this where we covered how to build confidence in our kids, and why our kids have such a challenge with this at their age, and what is the first move you can make to start that confidence ball rolling, Start with THIS to build confidence

Now about that...

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