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Kiplingers

Should you send your kid to college with a credit card?

July 28, 2015 By Liz Weston

teen-creditSavvy parents know the importance of building a good credit history. They also know that paying with a credit card can be more convenient and secure than other methods.

But personal finance expert Janet Bodnar has one word of advice for parents thinking of providing their college-bound children with a credit card: don’t.

“It’s dangerous and it’s not necessary,” said Bodnar, editor of Kiplinger’s Personal Finance and mother of three college graduates.

On the other hand, personal finance columnist Kathy Kristof—who also writes for Kiplingers and who has sent two children to college—says students who have been taught how to handle money can be responsible credit card users. She added her kids as authorized users to one of her credit cards, and said it’s worked out well.

You can read more in my Reuters column this week, “Start college kids with bank accounts, not credit cards.” Bodnar has more tips for parents at “Rules for raising money-smart kids.”

 

 

 

 

 

Filed Under: Liz's Blog Tagged With: college, college students, Credit Cards, Credit Scores, kids and money, Kiplingers

Free money advice

February 6, 2013 By Liz Weston

Offering AdviceYou have questions about money–everybody does. Now you have the opportunity to get answers from some of the best financial planners in the business.

Fee-only planners from NAPFA, the National Association of Personal Financial Advisors, will be answering your questions from 9:00 a.m. to 5:00 p.m. Eastern time on Thursday, February 7 and Tuesday, February 12, 2013.

The events, hosted by Kiplinger, will include four chat rooms focusing on:

  • Taxes and retirement
  • Saving for retirement
  • Income in retirement
  • Other financial challenges
You’ll also be able to post questions on Twitter using the hashtag #JumpStartRetire.
Read more at http://kiplinger.com/links/jumpstart13

 

Filed Under: Liz's Blog Tagged With: financial advice, financial advisor, Kiplingers, NAPFA

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