“I Learned Everything about Credit from my Parents”

I did a preapproval for this 26 year old the other day. The credit was great, the income very good and a good amount of assets. As I complimented him, he made the following statement. “I learned everything about credit from my parents”. Wow, your parents did a great job.

Then he told me that was not the case at all, people were always calling our home looking for money. They had to pay for everything in cash as no one would give them any credit as they never followed through with any of their financial commitments.

He went on to tell me that he made up his mind a long time ago to do just the opposite and never have any credit issues. Wow, what a really aware young man, who was not going to live his life the way his parents did and still do today. One day he will teach his children, totally differently than he was brought up.