Can a 5 year-old be $30k into debt? Have a mortgage, a car payment, and 4 credit cards? Unfortunately, yes. Starting at birth, tens of thousands of children fall victim to ID theft. And at times it's not strangers stealing their identity--it's someone in their own family!

Life is full of risk. We take chances all the time. It's a part of life! We gamble when we start our own business, or when we decide to walk to school or drive a car.

But get this: A lot of high school and college-age kids really gamble; online poker, 1-900 betting numbers and lotteries—you name it.

I'm betting you know what credit is: an arrangement for you to pay for something at a later date. "Okay, gimme the car today, and I'll pay you later."

But do you know what your credit score is? Okay, have you even heard of a credit score? More importantly, do you know how important that credit score is to the rest of your life?

Congratulations on getting your first job!

Isn't it great to finally make some money of your own?

For once in your life you have complete independence from your parents!

Okay, right now, rip up your license. And while you're at it, why don't you also lock yourself in your parents' house for about five years.

Sounds like fun, ey?