With this in mind, it's important to teach teens what interest is ? the percentage of your purchases you pay for the privilege of borrowing money from the credit card company ? and how quickly it can add up and what the real debt problem will be.

For example, a $1,000 balance on a card with an 18 percent rate will take more than seven years and cost an extra $516 to pay off if you make only minimum payments. Tell your teen he'll be 25 by then and will need some real debt help. That should hammer the message home.

And Social Security seems like a not-so-sure thing. Investing for retirement is going to be your kids' responsibility. Explain to them if they can muster $100 a month ? less than $25 a week ? and put it into a brokerage account where they earn an 8 percent return, they'll have $350,000 40 years down the road.

That's what most people can expect if they start this habit when they get their first job. But what if they start 10 years earlier and invest the same $100 a month from age 15 to age 65? That little nest egg is worth $800,000. Their mouths will drop.

Finally, it's important to point out that it's not just what you say to your kids that matter, it's the behavior you model for them on a day-to-day basis. One quarter of the teens surveyed by Schwab said their parents often lecture them about money ? but then don't practice what they preach.

I've always felt that the most important money lesson you can teach your kids has much more to do with good parenting than good Debt management. If your kids have the opportunity to see you dealing with the choices in your own lives ? if you let them in on the fact that you'd like the BMW but can only afford the Honda, so that'll have to do ? they'll have a much easier time dealing with the fact that they, too, can't have everything they want when they want it.

About Christian Credit One, Inc.

Christian One, Inc. is a national, non-profit Christian organization dedicated to helping consumers achieve financial wellness through Christian . Established in 1994, has helped over two million individuals achieve financial security. Christian One is one of the top members of the American Association of Organizations (AADMO), Christian One manages clients across the country. Personalized and confidential consultations are available in person, by phone or online. Visit Christian One or call 888-767-9155.

Greg McTaggart, Certified with 22 years experience, licensed by AFCPE, Director of Christian One and is an expert in budget and Christian . Having the combined experience as a licensed Real-estate salesman, Mortgage Broker, Real-estate Broker, Notary, Ace Member of the Cincinnati Executives, Mortgage Assistance and Spokesperson of the radio talk show The Money Mentor, Greg McTaggart is a qualified Christian to help you.