Bad idea on many levels. First, I don’t think it’s ever a good idea to argue in front of your kids. It sends bad signals that things are not good. According to the following article, you could also be setting your kids up for future debts of their own.
The studies discussed in this article show that parents that argue about finances leads to the students incurring their own credit card debt during their college years, averaging over $500. That might not seem like much, but keep in mind that it’s an average and most of these students probably don’t have jobs with significant income. That leads to the debt spiral we have discussed in the past here. Debts increase and the ability to pay it off decreases over time. The article offers some great tips to help with this issue. The one I enjoy most is educating your children about money early on. It’s a great way to start a pattern of responsible finances as they get older. And if you do find that you are arguing with a spouse about your finances, it may be time to consider options to assist in paying down those debts. Our debt settlement clients are often amazed at the savings we provide through negotiation on their credit card debts. We’d rather you have a discussion behind closed doors with a law firm skilled in debt settlement than arguing in your bedroom and not coming up with a solution other than one of you sleeping on the couch.
Kevin Fallon McCarthy
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