There is one subject that is of prime importance that often does not get discussed, the credit card use of teenagers. If we were to look the statistics what would they reveal? They paint the same picture as to any other group you look at. Statistics indicate that teenagers in the United States have significant balances on their credit cards. As an age group they are following the same footsteps as their parents. It appears that they are acquiring the same behavior that has caused problems for so many.

It may be a matter of education or perhaps teaching by example. We cannot blame them for acquiring the same behavior they see us model. Added to this dilemma is the problem they face when trying to attend college and having to pile on an enormous amount of debt in order to be able to do so.

When they reach young adulthood, these teenagers will already have a big obstacle. They will have already been caught in the debt trap and work just to make the minimum monthly payment. This is the inheritance we leave our children. We did not teach them or warn them on the dangers of becoming slaves to debt. The argument could be made that it is not all our fault and that the alluring advertising to buy things lulls us into spending. It is not a matter of determining whose fault it is, but we should try to teach our children to live debt free. If we instead model the behavior of debt elimination and become debt free. Maybe they will copy our behavior. We can teach them sound financial principles just as easily as teaching them destructive ones.

There is a new credit card bill that goes into effect this year that will be o some help. It requires does under 21 to show financial responsibility or have an adult guarantor. This will help to reduce credit card companies targeting teenagers.

It is up to the parents to teach the idea that we should live within our means.. Education is key and we cannot let our children ruin their lives and become slaves to debt. The way to start is to begin pay off debt of our own.

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