Building your child’s credit (as a minor)

Every one wants the best for their children. I at first had a hard time building my credit. I do not want my children to go through the same thing. Did you know you can actually build your child’s credit as a minor? This is a crazy concept to me.

Demonstrate and discuss good credit habits
One of the most important ways to help your children establish good credit it is to talk about how to responsibly manage credit. My 6 year old just asked me what is the difference between a debit card and a credit card. I then explained to him a debit card is money you actually have in your bank account and a credit card is money that is borrowed. I know he’s only 6 but I told him your credit score is basically your life and explained how important it is to pay your bills on-time and not to borrow money you can’t pay back. Talking about it and actually doing it yourself can help your child to develop good credit habits.

Add your child as an authorized user on your account
Your child can be an authorized user on your account. They do not need to actually have or use the card. You could potentially do this for your toddler. Or you could assist your older children with purchases and re-payment. This will slowly build up their credit over time.

Co-sign a credit card or a loan
This is a faster impact on your child’s credit score. The responsibility is still on you of course but I can’t say it enough educate your child on the importance of good credit habits ! You can also decide on a daily allowance depending on the creditor. Make firm rules with your child and see what apps are available to monitor spending. This will impact your child’s credit score a lot faster than adding them on as an authorized user.

I posted some resources you can purchase below !
This post contains affiliate links: as I am an amazon associate

>

Comments

My breast feeding Experiences.

Breast Feeding. this post contains affiliate links. I amazon associate and earn from qualifying purchases. buy your nipple beanie in my etsy shop today! When I tried breast feeding my 6 year old I was 20 and probably way to young to have children. I wasn't a teenager but I didn't have much established. I was living in Colorado mostly with different people. No where I could actually provide a safe and stable environment to raise a child. So I then moved to Missouri and planned to stay there with a very supportive, loving, kind family. I decided not to after a month or so and my bestfriend flew to St. Louis and came and got me and I moved back into my Mother's house. I delivered my first child in Brockton MA. My mom did not breast feed me. I didn't really know how to and I tried to but I gave up very easily. He was formula fed. Now I am 26 years old. I have a daughter who will be 3 months old on the 11th of June. She is exclusively breast fed. I am go...

Freetown state park splash pad and wading pool

Freetown state park splash pad and wading pool The Freetown state forest splash pad and wading pool is a fenced in area with a mini wading pool about 18” deep. It has a mushroom 🍄 in the middle of the pool and jets on the side. It is completely fenced in area with life guards on duty. . Note hours are from 9:30 am - 6:00 pm They do a 20-30 minute shut down at 12 noon and a 45 minute shut down at 2 pm. Address:110 Slab bridge rd, Assonet MA 02702 This is a seasonal place open from Memorial Day to Labor Day varies year to year. Check the website to make sure. It’s best to go when they open at 9:30 because sometimes they get full and can not allow more people to enter until their next shut down There are grassy areas for blankets with trees and canopy’s for shade. The whole area is fenced in and out side of the fence is picnic tables and grills you can have a picnic at. There is also a bathroom outside of the fence. It is definitely a good time. Bo...

Maevis 5 months

Maevis’ monthly update If you missed her 4 month old post click the link. 5 months old I am so sorry for being super late posting this. I had two birthday parties to go to on that day and have just been super busy. My baby girl is getting so big! Her likes Maevis loves to be outside. She is infactued with campfires 🔥. She loves people. She is so observant and watches everyone’s move. She definitely rolls over. She is beginning to sit up by her self for short periods of time. She enjoys being stimulated. While holding two objects she bangs them together. Her dislikes She doesn’t like to do the same thing for more then a few minutes. This post contains affiliate links, I am an amazon associate and earn from qualifying purchases Clothing size: 3-6M,6M Weight: 14 lbs Height: 24 inches Fave toys: Excersaucer, summer island giggle seat, rattle (Buy any of her...

Soule Stunning

Search This Blog