Getting ready for college or back-to-school is a good time to talk with your teens about financial wellness. Use these links from the FTC to help guide the conversation about managing money, building credit, and protecting against identity theft.
* Get step-by-step instructions on how to make a budget at consumer.gov/your-money. There’s a worksheet to show your kids the importance of tracking how much they’re taking in and spending.
* Get credit reports for free at AnnualCreditReport.com. This is an opportunity to talk about credit reports and their ability to get credit cards, loans, or even a job or apartment. Generally, a child under 18 won’t have a credit report. If they do, it could be a sign of identity theft.
* Schedule time to regularly monitor your teen’s credit to make sure they’re accurate. Get free reports every week at AnnualCreditReport.com. If anyone has used their information without permission, report it and get a plan to help them recover at IdentityTheft.gov.
While on the subject of money and credit, use consumer.gov for more tools to help you prepare your kids to manage their money, handle their credit, and deal with debt as they get older — all while avoiding scams.
