As a father of six children, I have tried to pass along life lessons to each of them on a consistent basis. Two of my children are college bound, and of late I have been trying to stress the importance to them of what so many in our nation are failing to do; making good financial decisions. Indeed, so many young adults are ill prepared to face the challenges of keeping good credit, and are falling prey to getting way over the heads financially. To be sure, many young adults today far out spend their means, making purchase after purchase on a credit card; purchases they can not afford, and debt they can not pay off. As a result, many young adults end up with bad credit, and even face bankruptcy. 

One of the lessons I have been trying to stress to my own children is to maintain a good credit score at all times. One way to do this is to make any and all credit care payments on time. Not only will it help improve credit scores, it will also save them money with unnecessary late fees.  Along with this, monthly and timely payments will also help to keep one’s credit in good standing. In fact, it is even more helpful when one is able to make payments twice a month, or more. Not only will this help to pay off a credit card quicker, it helps to also avoid any and all late fees. These late fees, as I continue to stress to my children, are often the downfall to someone’s good credit score.

 Yet, another way today’s young adults can ultimately save money in today’s busy, fast paced world is to consider getting a gas card. As my two children travel back and forth between their colleges and our home, they will sure to rack up a great many miles on the road. Now, while a gas card will only save them a little bit of money each time they fill up at the pump and at the station, the savings over the course of a year may be quite considerable. The saying that every penny counts is true with these types of savings.

Of course, one thing I have tried to stress to my children is that it is not necessary to whip out a credit care, and even wise not to use a credit card for every purchase they should make. Far too many young adults are quick to put every single purchase on their credit card. In fact, what I try to tell my own children is to practice under using their card, and not using it for every purchase.  

Part of being a parent is helping to prepare my children for their futures, for when they become adults, and for when they become parents to my grandchildren. If I do not teach my children the importance of maintaining good credit and making wise decisions with their money, they may end up like so many young adults in today’s society, and fall victim to financial difficulty. 

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