I love it when institutions teach. It’s the best way to learn some things because they are telling us what we need to do to work with them and become successful. I don’t know any other bank that teaches and I am attached to over 5 banks and only one has ever sent out information like this.
I am proud to say it’s one of our banks (a black owned bank). Please read and teach your children what they need to know. This post is part of my “Personal Credit” line of postings.
Posted In OneUnited Bank Blog By OneUnited Bank
Companies are aggressive when it comes to marketing to teens celebrating their 18th birthday or heading off to college. Is your kid ready to tackle credit without you present to make financial decisions? If not, it is time you prepare your high-schooler or college kid for credit. Here are the things they must know about credit before going off to college or applying for their first card.
BUDGETS ARE A MUST
High school kids and college kids don’t have a lot of money to spend, but they must keep track of what does come in and go out. The first step to tracking is creating a budget with your teen. Then you can teach your child how to track the spending. Kids spend blindly, which means parents are left with the bills at the end of the month. Help your teen learn how to create a budget and manage spending before you send them off to college. Free online and mobile banking services tied to a UNITY checking account help teens keep track of their cash.