NEW YORK ( TheStreet) -- Q: My 18-year-old son just started college this last fall. I gave him a credit card in his name, attached to mine, with specific instructions to be used for books, occasional dinners out and emergencies only. I'm privy to the balance and occasionally check it out online.He's home on holiday break and has misused it a few times. I didn't realize he was overspending until he said something. Apparently he wanted to tell me before I saw the recent charges. I appreciate his honesty and I'm not really angry. I just want to respond correctly and take the right actions with him. Should I take the card away for a while or just implement a clearer budget, what type of talk should we have? Thanks, Noah.
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