• themeatbridge@lemmy.world
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    3 months ago

    This might actually be a good way to teach kids about credit and interest. Let them borrow a small amount at a high interest rate and walk them through paying it off.

    It’s one thing to tell them about financial responsibility. But watching a bad choice drain their piggy bank is the sort of trauma that leaves a scar.

    • runswithjedi@lemmy.world
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      3 months ago

      Let’s not scar children to teach them lessons. I’m sure there’s a better way to teach a kid about interest besides getting a loan from McDonald’s.

    • Sam_Bass@lemmy.world
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      3 months ago

      If that was the reason for it then great idea. Having to buy icecream on a payment plan is just sad and more than a little crazy

      • themeatbridge@lemmy.world
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        3 months ago

        Oh I don’t know if that was the reason for the one in the image. I agree with you that needing to finance ice cream is sad. I’m just thinking it could be a good intro to predatory finance for kids.

    • Gigan@lemmy.world
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      3 months ago

      You don’t have to use credit, taxes are taken from you by force. Not comparable imo.

        • Gigan@lemmy.world
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          3 months ago

          Are you saying you need credit to live? Because that’s not true. Lot’s of people live that way, but it’s not necessary.

          • 520@kbin.social
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            3 months ago

            It can be. Depending on the circumstances in life you are in, credit may be the only way you’re able to pay for food.

            • Gigan@lemmy.world
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              3 months ago

              You can’t do that forever though. Eventually you’ll run out of credit and have to pay for it yourself. And by that point you’re probably getting crushed by the debt from a maxed out card, that you’d have been better off not using in the first place.

              • 520@kbin.social
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                3 months ago

                Correct. But it’s either this or literally starve. That’s why you’ve got people here saying it isn’t really a choice.

          • BarrelAgedBoredom@lemm.ee
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            3 months ago

            Have you ever been poor? Yes, sometimes you need credit to live. I’m still paying off debt from 2020 that I only acquired due to desperation and the threat of homelessness