SUMMARY 

• 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...

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!

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

You CAN Have Success in the Middle of it ALL !

The above conversation is happening everywhere.  

But generally, what conversation is NOT happening? 

One week later the smart mom asks . . .  

 So what do...

Do your nearly-grown kids know this? from Pam Hardison on Vimeo.

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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 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...

SUMMARY

What to do BEFORE you (or your graduate) packs and moves . . . !

Is someone in your family, perhaps you or your graduating child, considering moving to a new city(s) and contemplating the salary offer(s) involved?

The offer may sound perfect or maybe it doesn't.  Either way, how much buying power does it have when compared to your current city or any other city you might be considering?

Do you want to avoid mistakes, create a leg up on negotiation tactics?  Then this article is tailor-made for you.  

The cost of living varies GREATLY between cities.  One mom of our students said:

"My child was so excited to be heading to CA.  He is working out his spending plan, just like your course teaches, and put in the $ amount it takes to get an apartment - with 4 roommates no less.  I nearly fell through the floor.  His "apartment rent" (just his 1/4 portion) is MORE than my house payment.  My house has a front and back yard, and more square...

SUMMARY

How do you know if your child is ready for a debit or credit card (plastic money)?

Money.  Parents.  Kids.  Tension.  Maturity.  Focus.  Responsibility.  Nightmare.

You pick which words to assign to a parent and which to assign to a young adult.  You'll probably select "all of the above" for both.  Much has been written about establishing credit, debit cards, credit cards, and more. 

Even reviewing the contract involved in any financial card of any kind is like someone handing you a Webster’s Dictionary and saying “you are responsible for all of it”. 

Today, having a 'plastic' debit/credit card is a status symbol.  Remember seeing photos of James Dean in his cowboy hat leaning on that car....with that cigarette?  Yes, the status symbols may have changed, but the concept fit even us, our parents, and grandparents.  

Statistic:  Reports say over 50% of college freshman have a...

SUMMARY:

How do you introduce money management tracking with them?

• Start before they hit high school if possible.  If you haven't started it yet, start now.

Why will they benefit while in high school?

• They will experience guilt-free spending.  Priceless.
• They will be able to say "no" to something because they are saving for something bigger.

How should they actually start?

• With so much coming at them, starting simply is crucial.
• Start with pen and paper.
• Avoid the fancy money software. . . at least until later.
• Paper helps them more clearly see the movement of their money from category to category.

What are 6 things to remember as you pick money management software for your young adult:

Again, we strongly suggest starting with pen and paper before moving to this level.  Many will be happy with just a simple, direct pen and paper system.  But if you have a teen or young adult that is ready to level-up to something more, you will find these 6 items...

Who doesn't want to save money at a very practical level.  But how? 

Is cooking your thing?  Many, including me, don't relish it.  If it can be catered, or arranged to "eat out", then I'm good with it.  

One of my friends is the opposite.  Ask anyone that knows her, really.  If she can create a concoction in the kitchen, 50 dirty pots and all, she is good with it.

I drive her crazy.

BUT, what do we both have in common?  More importantly, what might you have in common?  We are both frugal.  Some would describe us as CHEAP.  How about you?  I taught my kids long ago that whenever and however you can design a system or habit to save money, you are ahead.    

Parents ask us all the time for practical ways to teach the rewards of savings.  This is about as practical as it gets.  If fact, if you want even more practical teaching ideas, you can find them here:  (free) 8 - Step Parent Teaching Guide...