Kay Bell at Don't Mess with Taxes -- in a post called "Are credit cards appropriate 'toys' for kids?" -- examines two trends that should give us cause to worry. She notes that a recent Charles Schwab survey found that almost a third of teens, if they had the option, prefer to pay with a credit card rather than cash. (Thank goodness only 10 percent have a credit card in their own name.) She also points to a disturbing trend in toys: For instance, the new Monopoly allows players to pay with plastic. And did you know that Dora the Explorer and Barbie carry credit cards? ("Not surprisingly; look at the clothes (Barbie) buys!" Bell comments.)
Read More...