I didn't want to get into this, but you are saying irrelevant thing and not getting the point of this post...
Age difference...Hookem is probably 19-20 years old. You are probably 60-70. He doesn't have a million dollars laying around to pay for graduate school, a house, etc. You probably do, congratulation. Nobody cares. I'm betting you took out a mortgage years ago or some type of loan and found a way pay it off...
My dad used a credit card as an emergency when my truck needed repair, he used the credit card because his debit card was being used to pay bills that week and house payment. His next paycheck he paid off the credit card bill. There nothing wrong with credit along as you know you got make it a 1st priority to pay it off. If you used the credit card, you got to realized you cannot go out and spend money loosely on wanted goods. That how people build debts. I have a credit card in my mother's name, and I'm a college student and have yet to pay any interest on it...
I got a subsidized loan from the government to pay for my apartment, but the loan is small which is what I wanted. By the time I graduate with a bachelor my student loan be under 8 grands.Plus graduate school, but I could pay this off real fast if I don't buy a car or a boat after college immediately. I already have a saving account to pay off principle of my loan. That account is solely for paying back the government after my education is completed.
Hookem, is not going graduate from college and buy a $1,000,000 house and pay it off on the spot. I'm sure when he your age his house, boat, car, and loan all be paid for.....And everything after tax will be 100% his....