Debates rage on about the quality of our public education, and what to do about it. Without question, there are a lot of tough challenges plaguing our education systems. But at least we have them. Unfortunately, They leave some fairly important items hardly mentioned, And in most cases, they simply don't mention them at all. The vast majority of people enter adulthood with the same level of credit education they had as an infant, And they do so because that was all they were ever taught by their parents. In this article, you will discover how important it is for a parent to know how credit works so that they, in turn, can hand down a credit education to the children in their family.
Having a good credit score is a value that can be measured in thousands or even millions of dollars over the course of your lifetime. On the other hand, a bad credit score can have an affect on your lifestyle and finances unlike an other single difference in your fiscal profile. Often in our society, the supposed epitome of capitalism and free market, people are most often simply left depending on the level of credit education that is handed down from their parents. Most people aren't born into a family that hands this knowledge down, and are simply left to their own devices to learn on their own.
The path most often taken to learning how credit works is the old fashioned way: By messing it up completely and learning how to fix it the hard way (Think of this as the "learning by landmine" method. It works as long as you don't value your fingers...). While the school of hard knocks is an effective teacher, it's also a very expensive one, and repairing and reversing the damage can take years. Often there is no way around this process for many people, as the credit education handed down to them by their parents is, at best, equal to the blind leading the blind.
Rounding out the problem is the utter lack of credit education in our public school systems. How credit works or even how important it is are simply never brought up. Usually, they simply don't mention it at all. And why would they? Were you to ask around, you would probably find most teachers in the same boat, suffering from the same lack of credit education. It's not that they don't mean well. They were just never shown.
The solution is a simple one, and could correct the problem within a generation. We, as parents, take responsibility by learning how credit works, and passing that knowledge on to our children. Just like brushing their teeth and looking both ways before crossing the street, our children should have a functional credit education when they leave home. If our public educational systems aren't going to address this issue, then it's up to us as parents to step up and do so. By taking this step, you can go a long ways towards strengthening the legacy of your family down through the generations, and help them avoid the stress and financial burdens of having bad credit.
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This article has been compressed to fit the configuration of this website. For the complete, original article, containing additional supporting information and resources, please go to The Importance of a Parent Knowing Having a Credit Education
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