Now that you have learned the importance of having great credit, protecting your credit, would you want to teach the same principles to your children?

You have seen the difference in life when you have a great credit VS. bad credit. I was at lunch with a very beautiful person. She has children when she was young. Her ex husband who had zero knowledge, understanding and awareness of Credit is living miserably. While her new boyfriend who understands the importance of Credit own not only a number of businesses but is a person with great heart and love and care.

This is who you become when you start following the principles. Now her boyfriend is teaching the same principles to her boys and they love him as they are enjoying the life style as well.

I was reading a magazine and in it was comment by Ray Kroc, founder of McDonald's Chain. This is what he said:

"It's a matter of having principles. It's easy to have principles when you're rich. The important thing is to have principles when youre poor." - Ray Kroc

Having discipline and principles is very important for success from the get go. Now I know you want to share this information with your children I know you are already aware of what you want to do, but here are few of my suggestions.

There are several ways to teach your children about the importance of good credit. Involve your children in discussions about money and the importance of having good credit. Teach them about saving money, credit cards, paying bills on time, the benefits of having good credit.

Some simple things you can do is set them up a saving account. Create an environment where they earn money for purchases of none necessity items. Teaching a child to save their money to buy things vs. using credit cards can mean the difference between your child being financially successful or ending up in debt upon graduating from college.

There are many books and interactive games that can help you teach Financial Literacy to your children and give them the chance to be successful in life.

I hope you found this information helpful.