Teaching Your Kids

The American Bankers Association provides information on financial education for all ages. One of their newest publications is designed to help parents teach their kids about money. Did you know that our teens spend roughly $170 billion a year? Do your kids know the dos and don’ts of credit? Or maybe they need some help with budgeting. See “The Parents’ Guide ~ Teaching Your Kids About Money” for information you can use. We need to help teach our kids how to save and invest wisely and how to live on a budget. Let’s help make our children’s financial dreams come true with education.

FDIC Consumer News

The FDIC publishes a newsletter quarterly with information all consumers can use. You can find the full newsletter on the FDIC website www.fdic.gov. The goal of the quarterly FDIC Consumer News (which is primarily for adults) is to deliver timely, reliable and innovative tips and information on financial matters, free of charge. Current and past issues are online at www.fdic.gov/consumernews. Others wishing to subscribe to this free online delivery service should follow instructions posted on the FDIC Web site atwww.fdic.gov/about/subscriptions/index.html.

FDIC Website

The Federal Deposit Insurance Corporation (FDIC) website contains information not only on what the FDIC is, but why FDIC insurance is important to you. One portion of their site outlines the basics on FDIC insurance and coverage on accounts. There are separate sections for certain retirement accounts, joint accounts and information on trust accounts. Visit their website at www.fdic.gov/deposit for more information.

Helping Teens in Money Management

For teens, saving money may not be as much fun as spending it, but putting dollars aside for their future and learning how to be smart consumers are still important things to do. Teens have access to more money than ever before thanks to allowances, gifts and, for many, income from jobs. Teens also are becoming more responsible for making decisions about everything from small, everyday purchases to saving for college or a car. That’s why the latest issue of FDIC Consumer News, published by the Federal Deposit Insurance Corporation, is a special guide to help teens (and many pre-teens) learn how to make good decisions about their money, right from the start.

The publication, entitled “Start Smart: Money Management for Teens,” features simple, real-world guidance for teens on how to:

· Save more money;

· Decide where to keep their money;

· Spend money wisely;

· Borrow money responsibly; and

· Protect against identity theft.

The guide for teens can be read or printed online at https://www.fdic.gov/consumers/consumer/moneysmart/index.html. There also is an online form for ordering up to two free copies.

The FDIC also is encouraging financial institutions, schools, consumer organizations and the media to reprint the new guide for teens in whole or in part and to link to or mention the FDIC Web site. See the Web site above for more details.