Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Raising Children and other Dad topics.
Eventually little Johnny or Janey is going to say "Dad! I need a loan." This is the time to use our coaching skills.
Loaning children money can be a great way to teach them about the costs, risks and work involved in borrowing. Starting in their teen years keep a Bank of Dad book. Mark down all loans and charge your little one interest: Many parents deposit the interest in their children's college funds.
Taking this step will teach your child the skills needed to responsibly handle borrowing.