As a parent you have responsibility over your children. If you do not train them well, they will always be your burden and the repercussions may not be very friendly. Consider a case where a loving parent of three has a credit card for himself and others for each of the three children.

He wants to pretend he loves them so he never monitors how they use the cards but pays for all of them. Then, his financial situation changes because of the many other bank loans he has picked and spent on their education. They are all in school, remember. He realizes that he can’t make any more repayments. He has several bills but knows nothing about bill consolidation.

He learns of debt consolidation and is very thrilled. He decides to take it and does well by clearing the other loans. The debt help advisor told him to be very keen with finances because it’s like he has exhausted all his options. He pays the loans, credit cards and goes for holiday with the children.

What has he not done? He has left the cards with the children. They spend them badly and mess up even more. Is this guy wise? If it were you, what would you then advice. The answer lies within you.