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Motley Fool Answers

4 Credit Cards Pitfalls (And How to Avoid Them)

Motley Fool Answers

The Motley Fool

Taxes, Saving, Money, Investing, Planning, Retirement, Personalfinance, Finance, Education, Business

4.4823 Ratings

🗓️ 4 July 2017

⏱️ 29 minutes

🧾️ Download transcript

Summary

We’re going to discuss four common credit card pitfalls and how you can avoid them. We’ll also answer your question about keeping things financially equal with the kids and get advice from Ben Franklin on how to write a solid will. Thanks to Slack for supporting The Motley Fool. Learn more at slack.com.

Transcript

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0:00.0

Thanks to Slack for supporting Motley Fool Answers. Slack is a messaging app that brings together all your team's communication in one place, making work simpler and more productive. Go to Slack.com to learn more.

0:14.4

This is Motleyful Answers. I'm Alison Southwick, and I'm joined as always by Robert Brokamp, personal finance expert here at the Motley Fool.

0:20.7

Well, hello, everybody.

0:21.9

In this week's episode, we're going to discuss four common credit card pitfalls and how you can avoid them.

0:26.5

We'll also answer your question about keeping things equal with the kiddos.

0:30.2

All that and more on this week's episode of Motley Fool Answers.

0:34.4

It's time for Answers.

0:36.1

And today, we have a guest in the studio to help us.

0:38.6

Hello.

0:39.6

That's Jason Moser. You might recognize him from such iconic episodes as the Oreo tasting.

0:45.7

And also, you come on in the past to talk about stocks and also kids and money.

0:52.0

I have. I have. I've been very fortunate to be welcomed back into the studio, Allison.

0:56.9

I figured after one time you might not have let me back in, but I guess I've done enough stuff.

1:01.9

Always happy to have you back. We'll give one more shot.

1:05.9

Well, don't mess this one up because this is strike three. All right, so today's question comes from Avi, who writes, we have two young children,

1:12.1

a six-month-old daughter, and a two-year-old son.

1:14.5

I've opened investment accounts for each.

1:16.7

At the moment, she is up 11 percent, and my son is up only 4.5 percent.

1:21.6

Oh, boy.

1:22.6

I know.

1:23.6

She's going to say you always like to invest at them. What should parents do to make sure one kid doesn't have more than the other and to avoid

1:30.6

them saying later in life, why didn't you invest in this or that, even though that is the

...

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