5 Must Knows to Teach Your Child about Contracts
Podcast: Parenting Your "Nearly Grown" JUST. GOT. EASIER.
Should your "teachable moments" include an introduction to contracts?
Absolutely. In fact, it is highly likely you already have what it takes to make the topic creative, yet meaningful. You've just never been shown how to use it.
In this short podcast you will learn:
- 5 contract concepts every teen should hear
- A creative method to get your child involved in learning
- A few buzz words made easy
- And odds are high you will learn information you need, too
This rarely taught topic isn't generally found in traditional academics with so many other things they need to cover. But as we know, contracts are important and rule so much of our "can" and our "can't".
As your time winds down with your "nearly grown", important lessons loom larger. This is one of them and we hope it helps you move the needle...
What Are You Doing This Weekend?
Podcast: Parenting Your "Nearly Grown" JUST. GOT. EASIER.
What lessons does your "nearly grown" teen or young adult still need to learn?
And, how can you weave them into your busy parent-life?
With just one hour, you can pour 3 lessons/concepts/wisdom into your "almost out the door" child. They get a little smarter and you get a bit less worry as they pull away and move into adulthood.
In this podcast, learn how to cover these 3 crucial points in just 1-hr:
When you narrow focus and concentrate on specific teaching points, you'll be surprised at what you can cover in a short amount of time.
So go ahead and challenge yourself to find that hour this weekend. You'll be so glad you did.
As always . . .
You...
Close Encounters of the Debit Kind
Hi Parents:
Welcome to this episode of Parent-52, a weekly parent power move designed to help you help your teen burst into the adult world as prepared as they can be!
Today's topic: Money Management
- What 3 things MUST they know
- What you must ask your teen to do if using a debit card
- What's a "purchase pickle" they mind find themselves in?
- When should they USE and NOT use their card?
Bonus Parent Point:
- Learn how by doing this one thing you can capture your teen's attention on the topic of money management.
Show Links Mentioned:
- Want to get the Parent-52 Episodes easily AND a BONUS of our 8-Step Parent Planning Guide? (FREE 8 steps with links/tips/info on crucial topics your teen needs to know). It's 12 pages chock full of super information. AND, of course, get each episode of Parent-52We will email you, each week, your power move for the week (as you can see, they are short and to the point.)Here's the link...
How does a credit bureau get information on you?
Inquiring minds want to know. Right?
How do these bureaus get our purchasing history? If you were to write down every single thing we buy, borrow, lease, etc. on pages, you'd call it a financial diary. So who is writing those pages? Of course, we are, but someone else is writing all of this down, too - credit bureaus and entries to our credit report.
How do "they" compile our financial diary?
Almost every time you buy something, or create any kind of financial transaction, it is likely being reported to one, two, or all three credit bureau agencies: Experian, TransUnion, and Equifax. In other words, from retailers to landlords, this information is sent to them for free.
These credit bureaus compile this information and create credit scores on us using an algorithm. Generally, the methodology used to create the number score is "Fico". That's why you hear the phrase: "I have high Fico Scores" or "my fico scores...
Credit Report Fraud in your child's name? Clues, proof, and how to fix it!
Hello.
I'll never forget the night my husband after reviewing our college-aged daughter's credit card that she had "purchased" a 32" flat screen tv.
WHAT? We had her on a tight spending, she kept herself on a spending plan, and had never given us an ounce of worry in this regard. But a FLAT SCREEN TV?
Well, of course it turned out to be that her credit card # had been "skimmed". In other words, someone had digitally lifted her credit card information while they had her credit card to check out with at a restaurant.
True confession, however. We had trained her to review her credit charges and look for irregularities. Who discovered the error? Her dad.
Take heart. No matter how many plans you put in motion, bad things can happen to good people.
How do you know if your child's credit report/scores and more are in jeopardy?
Of course, review the charges. Captain Obvious, right?
What if...
What . . . my child might have a credit report ???
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...
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!
Have a great week. And as we say ...
You CAN Have Success in the Middle of it ALL !
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...
How You Can Know They Are (or are not) Ready for a Debit/Credit Card
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...
