Comments on: 6 Money Skills & Habits to Teach Your Kids Before College

By: Keith Morris

Keith Morris — Sun, 12 Jul 2009 22:27:08 +0000

Thank you for sharing this, Mrs. Micah. It’s so important to spend time talking to your kids about money.

Coincidentally, I’m helping to organize an online chat this Wednesday on this very topic, how to talk to your kids about money. You can read about it here:

http://www.lifetuner.org/blog_posts/111

It so happens that MLR from MyLifeROI.com plans to join us on the call, and I would LOVE to have an opportunity to talk to you as well! Let me know if you can make it, and I’ll introduce you on the call!

By: Father’s Day Straight From Europe Link Roundup | Financial Independence in Your 20s | Studenomics

Sun, 21 Jun 2009 18:07:31 +0000

[...] Micah writes about 6 money skills to teach your kids before college. All I will say is that it is unfortunate that many high school students will never such a great [...]

By: Studenomist

Studenomist — Sun, 21 Jun 2009 17:42:02 +0000

A great list and what else can I add besides the obvious: every single high school student should at least be given a speech like this at their graduation. Studenomist’s last blog post: Do Personal Finance Blogs Have You Thinking About Money Too Much?

By: J. Money

J. Money — Sun, 14 Jun 2009 17:14:40 +0000

Great list – even if people only did just ONE of them they’d be well better off than most other crazies out there.

Esp #1 – that’s always my fave

J. Money’s last blog post: Winners of The 3 Amazon Gift Cards! $50, $30, $20

By: Weekly Round Up | Master Your Card

Weekly Round Up | Master Your Card — Sun, 14 Jun 2009 05:06:06 +0000

[...] Mrs. Micah shares 6 money tips you should teach your kids BEFORE college. Too many kids head off with little to no education on finances. Do your kids a favor, teach them [...]

By: Fabulous Financials » Fabulous Finds Around the Blogosphere

Fabulous Financials » Fabulous Finds Around the Blogosphere — Fri, 12 Jun 2009 15:14:23 +0000

[...] 6 Money Skills & Habits to Teach Your Kids Before College – Mrs Micah [...]

By: TGIF Link Round Up: Frugal fun edition | Frugal Living Tips & Money Saving Ideas | Living Well on Less

Fri, 12 Jun 2009 12:02:22 +0000

[...] Mrs. Micah shares 6 money skills & habits to teach your kids before college. [...]

By: Miranda

Miranda — Thu, 11 Jun 2009 13:05:20 +0000

Sad thing: My parents taught me all of these. As soon as went to college, I went a little crazy and disregarded nearly all of it. Anyway, I also agree Caro about the co-signing. And never let someone else use your credit card. My sister did that, and in the end had her identity stolen…

Miranda’s last blog post: Bankruptcies: Most Caused By Medical Bills

By: Caro

Caro — Thu, 11 Jun 2009 12:22:07 +0000

If I had any advice I would say this:

Do not take on the financial risk or burdens of your friends.

Co-signing may seem like a risk-free thing to you at the time because you love your friend and they will, of course, be responsible, but things go wrong and being responsible for them in those situations can hurt you, your credit, and your friendship.

Similarly, if you have the money to spare, sure, help out a friend in need. But don’t use your credit card and get yourself in debt because your boyfriend needs to buy books and he’ll pay you back “right away.”

If you are feeling any peer-pressure on the issue, you can always use your parents as an excuse, “My parents would kill me, sorry.” Every parent should support a kid using them in this way.

When I was in college I made some of these mistakes and I’ve watched relatives and friends make the same mistakes. Good learning experiences, but sometimes very expensive ones.