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How Can Parents Teach Kids About Good And Bad Debt?

Debt does not have to be a scary word. When kids learn the difference between good and bad debt, they gain the tools to make confident and healthy financial choices. With help from resources like the Good Debt Bad Debt Book and regular conversations at home, parents can build their childrenu2019s financial knowledge one smart lesson at a time. To know more visit here https://inflationeducation.net/product/good-debt-bad-debt-and-the-big-green-blob/

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How Can Parents Teach Kids About Good And Bad Debt?

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  1. How Can Parents Teach Kids About Good And Bad Debt? Teaching kids about money is one of the most important lessons a parent can provide. Among all financial topics, understanding good debt and bad debt can shape how children make money decisions for the rest of their lives. One helpful tool for parents is the Good Debt Bad Debt Book, which offers simple and effective explanations that can be turned into family- friendly conversations. To teach kids about debt, it’s important to start with the basics. Kids learn best through stories. You might tell a short story about two characters— one who borrows money to buy books and gets a good job, and another who borrows to buy a toy and has trouble paying it back. Use real-life situations to discuss debt. If you're buying something expensive like a phone or a car, talk about how you're paying for it.

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