Quote:
Originally posted by RedefinedDiva
This sounds good in theory, but not every student comes from a family that is good with credit, nor was ever educated themselves. Therefore, the parent may not be the most reliable source for information.
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So true!!
My boyfriend's mother was never good with credit or finances and in turn, never taught him how to manage his money. Right now, she does not have a checking account and often throws bills away without paying them. On the other hand, my mother taught us to be financially responsible early on. I can see the differences between the two of us now. He didn't open a bank account until he was about to come to college while I already had $2,000 invested in a CD. My boyfriend was lucky in that he had the initiative to teach himself about managing money and credit
before he needed to know these things.
Being at an HBCU, I see situations like this all of the time. Many students here are the first in their families to attend college and come from low income neighborhoods. I have classmates who have ten credit cards. There is no need for
any college students to have that many cards.