Hilary Duff’s thoughts on credit cards for kids
“In her stint as guest editor of Seventeen magazine’s October issue, teen pop-culture phenom Hilary Duff raged against the credit card industry (in a G-rated hair-flip kind of way): “So many of my friends have started getting credit cards, and the banks don’t really tell you how this works, like ‘Do this, but don’t do that,’” she said in an interview with MTV.
Around her Sweet 16 birthday three years ago, Hilary says, she began to pay more attention to the financial empire being built with her name. (Perhaps it’s just a coincidence that around the same time, the plug was pulled on the Hilary Duff-branded prepaid Visa card.)”
To be quite honest, I think that it is our job as parents to explain how credit cards work. I think that my two were somewhere around 16 years old when we gave them their first credit card. It was explained to them that it was for emergency purposes only. (I had this fear of them getting stranded somewhere and would need shelter and maybe a hot meal.) Well, they are both into their twenties now and neither one of them has any difficulties with handling their own finances. I am hoping that maybe their dad and I had something to do with it.
*But I can see how things could get out of hand, when you have the sort of money these young celebrities have access to. It takes a lot of discipline!
Tags: Celebrity, credit-cards, Hilary-Duff, teensRelated Stories
POSTED IN: Celebrity, Money & Teen Jobs
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