When it comes to things that your kids have to know about money before they begin managing their own, it is that debt is a negative force on their financial lives and should be avoided. Debt is a strain on your cash flow, and if debt is seen as a positive to your children, they will always be clawing their way back from a financial deficit instead of building true wealth for themselves. Between being debt free and living on less than they make, your kids should have good financial habits to build on. Today, we will discuss:

1. Why debt is bad

2. How to explain debt to your kids

3. The negatives of car loans, student loans, and credit cards

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Don’t forget to like, subscribe, and leave comments below as I would love your feedback. Be sure to check out my website (www.mnowithdylan.com) where you can get more information on my financial coaching services and more, the podcast of these shows if you are more of a listener than a watcher, and follow the show on any social media outlet (FB, Twitter, & Instagram) @mnowithdylan (Money’s No Object with Dylan Howell) [All links in description]. Tune in for more personal finance concepts. Don’t forget to check-in every weekday (Monday-Friday) for new videos which will be uploaded each day at 6 a.m. CDT. Thank you, guys, for tuning into this episode of Money’s No Object. I’m Dylan Howell. God Bless!

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(Please keep in mind that I am not a financial advisor. I create these videos for educational purposes only. You and only you are responsible for the investment decisions that you make.)