What do statistic show for teenage credit card use?

Our teenagers credit card debts and debt habit are seldom discussed. So what do the credit card statistics for teenagers disclose? They paint the same picture as to any other group you look at. To no surprise they show that teenagers have amassed considerable credit card debt. As an age group they are following the same footsteps as their parents. It appears that they are acquiring the same behavior that has caused problems for so many.
It may be a matter of education or maybe teaching by example. We cannot fault them for acquiring the same behavior they see us model. Added to this dilemma is the problem they face when trying to attend college and having to pile on an massive amount of debt in order to be able to do so.
When they reach young adulthood, these teenagers will already have a big obstacle. They will be saddled with a large amount of debt that can only get worse and face the same future of having to battle to make the monthly payment. This is the inheritance we leave our children We did not educate them or warn them on the risks of becoming slaves to debt. The argument could be made that it is not all our fault and that the appealing advertising to buy things lulls us into spending. It not a matter of trying to find fault, but teach them to live life debtfree. If we lead by example instead and become debtfree. Maybe they will duplicate our behavior. We can teach them sound financial values just as easily as teaching them destructive ones.
There is a new credit card bill that goes into effect this year that will be of some help. It requires does under 21 to show financial responsibility or have an adult guarantor. This is a step in the right direction that will limit predatory practices of credit card companies to exploit teenagers.
It is up to the parents to teach the idea that we should live within our means.. Education is key and we cannot let our children ruin their lives and become slaves to debt.
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I believe that we can help our children live debt free. We should start by beginning a debt elimination program of our own.

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