"Mom, can I borrow $20?" Sound familiar? Your answer can teach more than the loan itself.
A Better Response Than Yes or No
- Ask what they want it for
- Ask how they'll pay it back, and when
- If you say yes — write it down together
- Add a small "interest" if appropriate (a chore, an extra task)
Why This Works
It introduces the real-world rules of borrowing without the real-world stakes. By the time they have a credit card, the concept is already familiar.