GRAND RAPIDS, Mich. (WOTV) - This summer teach your teen money management skills to last a lifetime.
If they have a summer job here's some great ideas to implement.
1- Have them set up a direct deposit. This means opening a checking account and then linking their pay directly to it.
2.- It's a great opportunity to have them learn to use free services like online banking or mobile and text banking for tracking balances.
3- Allow them to use a debit card but protect htem by setting up daily purchase limits.
Believe it or not it's never to early to even open their first IRA savings account for long term wealth.
Not sure where to start? Contact First Community Federal Credit Union to discuss which options are best for your teen.
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