<prompt> Human: I have two kids, ages 6 and 3. I see a lot of threads about parents ruining their kids credit by taking out loans and cards and such under their names. Im curious what good things can be done as a parent to help their kids in the future.My current thought is to open bank accounts so they get a statement every month and can see interest accrue so they can learnunderstand that concept. Beyond that, I assume some co-signing will be needed for first credit cards or car loans or something. Im not sure what the most intelligent way to go about this is. I know credit score looks at the age of the oldest account so I would think getting a card under their namesSSNs is better to do sooner than later to establish that history. I also feel thats how you end up in these situations where people parents essentially steal the kids IDs and ruin their credit before it even starts so part of me wants to avoid that to avoid that problem.So, Im seeking advice and hoping to start a conversation here about dos and donts for helping out your children financially to plan ahead for their future.  <response>: The best thing you can do for their financial future is secure your own so you are a not a burden on them when you retire and b may be in a position to provide assistance to them, as needed. This means fully funding tax advantaged retirement accounts and paying down high interest debt. 