Posted by admin on October 16th, 2009 in Education, Internet Use, Money, Parenting

In this age of malware, botnets , phishing and identify theft; sending a teenager into the electronic financial word can be a dicey proposition.  It’s a foregone conclusion that teens will probably never see the inside of a bank except for the day they open their account with Mom or Dad (IF they are with them then!)  Once a teen gets an account, you can guarantee  interactions with their money will be through an ATM or online banking.  It’s logical that the generation that socializes online and gets (and completes) their homework online, will manage their money online.

Identity Theft

It’s scary but true that last year alone, nearly 10 million Americans were victims of identity theft, making this the fastest growing crime in America.   The best protection against  identity theft is education.  Recently, I was contacted by a representative of the nonprofit organization, National Foundation for Credit Counseling which has launched a very informative, educational website about these concerns.   ProtectYourIDNow has an online quiz that helps you assess your risk of ID theft and learn helpful tips to keep you and your family safe.  I’m thinking it would be a great “first-stop” for a teenager when they ask to open their first checking account.  Teenagers aren’t thinking about identity theft but they surely won’t ever think about it unless we talk to them about it.

Sex Ed?  Why Not Life Skills Ed?

I think it’s ironic that our schools provide sex education but no education about practical matters in running your life….like banking or how to choose a good password or how to compare banks to get the best rate?  It would be great if before they graduated high school every senior had to pass a basic “life skills test”…wouldn’t it?

Check out the website, I think you’ll find it a good resource.  Better still, show your favorite teenager and ask them to take the quiz.  See how they do.

National Protect Your Identity Week, a program brought to you by NFCC and Council of Better Business Bureaus, is October 17-24.