The bank recently posted some savings tips for teens on Facebook. Take a look and share them with the young folks you know and their parents!
- Set up a checking account. North Shore Bank allows 13-year-olds to open a checking account with their parent! Parents can sign up for notifications to be alerted of account activity, and we don’t require e-statements, so parents can teach their child about finances using the paper statement.
- Once your teen turns 18, help them apply for a credit card. Make sure to teach them the concept of debt and to never buy more than they can pay off.
- Make mistakes learning opportunities. There’s bound to be some mishaps along the way, so make the most of these instances by teaching your teen to learn from them. It’s better they learn now (on a smaller budget) than later in life when they have much more bills and financial responsibilities.
You can find more resources to help teens save here.