This might actually be a good way to teach kids about credit and interest. Let them borrow a small amount at a high interest rate and walk them through paying it off.
It’s one thing to tell them about financial responsibility. But watching a bad choice drain their piggy bank is the sort of trauma that leaves a scar.
Oh I don’t know if that was the reason for the one in the image. I agree with you that needing to finance ice cream is sad. I’m just thinking it could be a good intro to predatory finance for kids.
I think this may not be a bad way to teach kids the dangers of compound interest, but only if you refund the excess interest afterwards because actually tricking your kid into draining their bank account in interest is a dick move.
This might actually be a good way to teach kids about credit and interest. Let them borrow a small amount at a high interest rate and walk them through paying it off.
It’s one thing to tell them about financial responsibility. But watching a bad choice drain their piggy bank is the sort of trauma that leaves a scar.
Let’s not scar children to teach them lessons. I’m sure there’s a better way to teach a kid about interest besides getting a loan from McDonald’s.
A couple dollars is a cheap price for such a valuable lesson.
If that was the reason for it then great idea. Having to buy icecream on a payment plan is just sad and more than a little crazy
Oh I don’t know if that was the reason for the one in the image. I agree with you that needing to finance ice cream is sad. I’m just thinking it could be a good intro to predatory finance for kids.
Why even use credit at all? What is wrong with debit?
I use my credit cards for everything I purchase because I get some cash back or other incentives along with fraud protections.
My brother’s a psychopath who plays his credit score like it’s a game so he has like ten cards and a 800+ score he’s proud of.
I make nearly three times as much as him and it took me forever to get an 800 so maybe he’s onto something but fuck that game.
I believe when you get serious about the tactics it’s called churning and manufactured spending
Why even use debit at all? What is wrong with bank notes?
Why even use bank notes at all? What is wrong with precious metals?
Why even use precious metals at all? What is wrong with big stick?
I think this may not be a bad way to teach kids the dangers of compound interest, but only if you refund the excess interest afterwards because actually tricking your kid into draining their bank account in interest is a dick move.