"Have to be SMART" Shark Tank investor Kevin O'Leary shares how he taught his son to use credit cards

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"Have to be SMART" Shark Tank investor Kevin O'Leary shares how he taught his son to use credit cards

//business-finance.news-articles.net/content/202 .. s-how-he-taught-his-son-to-use-credit-cards.html

Published in Business and Finance on Tuesday, February 4th 2025 at 17:00 GMT by MSN

Kevin O'Leary has a sharper, more direct voice than others in the high-stakes world of finance and (financial advising).

Kevin O'Leary, known from "Shark Tank," shared insights on teaching his son about financial responsibility, particularly with credit cards. He emphasized the importance of understanding credit as a tool rather than a means for unnecessary spending. O'Leary recounted how he gave his son a credit card with a $1,000 limit when he was 18, advising him to use it wisely and pay it off monthly to avoid interest. His son learned the hard way after maxing out the card and facing the consequences, which included having to work to pay off the debt. This experience taught him the value of money, the importance of credit scores, and how to manage finances effectively. O'Leary's approach underscores the lesson that one must be "smart" with credit, using it to build credit history while avoiding the pitfalls of debt.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/smallbusiness/have-to-be-smart-shark-tank-investor-kevin-o-leary-shares-how-he-taught-his-son-to-use-credit-cards/ar-AA1yplKP ]

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