These days, it’s more important than ever to keep your financial information secure. Fraudsters are finding new and increasingly deceptive ways to illegally access it. That means it’s essential for your teenager to start developing good habits as early as possible. Here’s a short list of things your teen should keep in mind to stay safe while shopping.
Keeping your financial information safe from third parties is an important skill to practice. As a parent, it's probably second nature by now to take precautions while doing things like entering your credit card information online, or covering your PIN while using an ATM. But does your teenage son or daughter know the ropes as well as you do? Chances are, they only know what they've learned by observing your day-to-day routines. They'll need your guidance on how to keep their information safe.
With recent events such as the Equifax breach, online fraud is top of mind. But that doesn't mean thieves are going to limit their methods to stealing credit card information online. For that reason, let's divide the following financial security tips into two categories – online and in-person.
As we've said before, keeping your financial information safe from third parties is an important skill to practice. The earlier you start teaching your teen these skills on top of good money management skills, the better off they'll be when using their accounts. If you haven't already, help your teen set up an Early Saver* savings account and/or a Checking account.
*Must have a parent or legal guardian on account. If you are under the age of 13, you must enroll in person or by mail.