http://www.richdadwisdom.com/2007/02/can-credit-union-teach-money-lesson/ Layman's view of Kiyosaki "Rich Dad, Poor Dad" and his other works. Fri, 26 Nov 2010 16:12:16 +0000 hourly 1 http://wordpress.org/?v=3.1.3 http://www.richdadwisdom.com/2007/02/can-credit-union-teach-money-lesson/comment-page-1/#comment-21 ispf Sun, 18 Feb 2007 17:49:43 +0000 http://www.richdadwisdom.com/?p=71#comment-21 You raise a good point! I think we can consider three types of parents here: a) Those that are on financially on very sound grounds. Like a rich dad. In this case, they will find ways to teach their kids about properly handling credit anyway. b) Those that are financially illiterate. Like a poor dad. In this case, you are right, it is hard to educate the kids about good financial practices at home when the parents themselves dont know much :( c) Finally the reformed one. Which seems to be a big bulk of the PF blogosphere. The ones that made mistakes with credit, but realize their mistakes now and are on the way to recovery. I guess we need to get the message accrss to such people to say, "Its great that you are making an effort to get out of debt and establish good financial practises, but dont forget to inculcate these habits in your kids while they are still young so they dont make the same mistakes as us". You raise a good point! I think we can consider three types of parents here:
a) Those that are on financially on very sound grounds. Like a rich dad. In this case,
they will find ways to teach their kids about properly handling credit anyway.
b) Those that are financially illiterate. Like a poor dad. In this case, you are right,
it is hard to educate the kids about good financial practices at home when the
parents themselves dont know much
c) Finally the reformed one. Which seems to be a big bulk of the PF blogosphere.
The ones that made mistakes with credit, but realize their mistakes now and are on the
way to recovery. I guess we need to get the message accrss to such people to say,
“Its great that you are making an effort to get out of debt and establish good financial
practises, but dont forget to inculcate these habits in your kids while they are
still young so they dont make the same mistakes as us”.

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