I have a married friend who as a problem.
The problem is they have a 9 year old and his wife wants to give her a credit card. He is totally against the idea. His wife has a part time job, but the husband is the primary breadwinner.
Her basic argument is that the daughter keeps up her grades, its no big deal if she has a charge card and that its just like paying an allowance.
The husbands problem is her wife is not financially responsible and it's not going to help the kids understand money if someone else is paying for it.
The wife is going to get a credit card anyways because "she doesn't want her husband interfering with her parenting".
Your thoughts on this situation and possible suggestions?
Hey my friend came to me for advice..I didn't "stick my nose into someone else business".
The card is not a prepaid card, its a full on charge card... I already suggested the prepaid card as a suggestion, but the wife wants a full on gold card with a $500 starting limit.
One side question...isn't debt occurred during a marriage considered joint debt during a divorce?
Should he be concerned about any debt the child rings up, that he might be forced to pay during a divorce situation. As I understand it, things are typical split 50/50 assets AND debts.
The problem is they have a 9 year old and his wife wants to give her a credit card. He is totally against the idea. His wife has a part time job, but the husband is the primary breadwinner.
Her basic argument is that the daughter keeps up her grades, its no big deal if she has a charge card and that its just like paying an allowance.
The husbands problem is her wife is not financially responsible and it's not going to help the kids understand money if someone else is paying for it.
The wife is going to get a credit card anyways because "she doesn't want her husband interfering with her parenting".
Your thoughts on this situation and possible suggestions?
Hey my friend came to me for advice..I didn't "stick my nose into someone else business".
The card is not a prepaid card, its a full on charge card... I already suggested the prepaid card as a suggestion, but the wife wants a full on gold card with a $500 starting limit.
One side question...isn't debt occurred during a marriage considered joint debt during a divorce?
Should he be concerned about any debt the child rings up, that he might be forced to pay during a divorce situation. As I understand it, things are typical split 50/50 assets AND debts.