11/28/2005

Advice from Nashville's leading Financial Aid Advisor Dave Ramsey

 
Dave Says
By Dave Ramsey
Author of:
Financial Peace and
The Total Money Makeover

"Credit card for a 10-year old?"


Dear Dave,

My ex-husband wants to get a credit card for our 10-year old son in order to teach him about credit. I think I should teach him about avoiding debt, and cut up the card if he gets it for him. What do you think?

Cheryl



Dear Cheryl –



This is one guy where the word “ex” is definitely the one you want before the word “husband.” Why doesn’t he just buy the kid an Uzi, and let him carry it around to teach him about guns? This is unbelievable …

Yes, I think you should find a pair of really sharp scissors, cut that sucker up when it arrives and have a LENGTHY discussion with your 10-year old. Not a discussion about how stupid his father is, but about how stupid credit cards are. 

- Dave

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