Have you ever talked with your kids about money? I know that with my own kids, ever since they were small we have used real life situations to talk about money. How we get it, how we spend it, what checks are, what credit cards are, when, why and how it's good to use them. It is important to start teaching our kids about these issues before they leave home and find themselves in a financial crises. Of course, kids will have to go through their own struggles, but preparing them in advance to avoid the situations of looking for bad credit loans or having to try to struggle out of the hole with bad credit credit cards , it makes sense to start teaching them early on so they will have a better foundation when it comes to spending their own money.