Many parents want to help their children get ahead financially. This is only natural. Additionally, it is important to teach your children about credit cards and about other money matters. However, as you work to teach your child important lessons, don’t forget that you might be on the hook for your child’s debt.
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Helping Your Child? Understand Parental Responsibility for Debt
By Janet Hutchins | Tagged with featured, Secured Credit CardsBuilding Good Credit: It Doesn’t Have to Mean Debt
By Janet Hutchins | Tagged with Best Credit Cards, Canadian Credit Cards, Credit Reports, featured, Money, Secured Credit CardsOne of the misconceptions that many people have is that building good credit means that you have to get into debt. However, this just isn’t true. It is possible to build a good credit history without selling your financial soul and paying interest. But if you want to do it quickly and thoroughly, you will need to use Canadian credit cards.
Why Bother About Building Credit?
It’s true that you need you to pay attention to the information in your credit report. Even if you aren’t borrowing right now, you need to keep tabs, since someone might have stolen your identity and could be getting credit via fraudulent means. But that doesn’t really answer the question of why it’s a good idea to bother with building a good credit history in the first place.