 TITLE: How to Teach Your Child to Budget Money CONTENT: When Should Kids Start Building Credit?\n---------------------------------------\nWhile it's great to go out into the world with a bit of a credit history and a decent credit score, kids do not necessarily need access to credit at an early age. First consider whether they're ready to handle credit responsibly. If not, wait.\nFor young people looking to get credit for the first time, there are a few common options to explore. You may be able to add your minor child to your credit card account as an authorized user. They'll receive a card with their name on it they can use to make purchases, but they are not responsible for paying. You are.\nIf your child is off to college or ready to move out, a secured credit card can help them get started in the world of credit. These cards generally start with a low credit limit and require a security deposit that typically equals the credit line. A card with a $500 credit limit, for example, may require a $500 security deposit, which will be used to pay the bill in the event of a default. Other cards offer college students a modest credit line without requiring a deposit. END