Practical Money Tips for Young Adults and Teens
The FDIC published a collection of simple, practical tips for young adults and teens on saving, managing money, and avoiding financial scams. This special edition of the agency’s quarterly "FDICConsumer News" (Fall 2012), titled "For Young Adults and Teens: Quick Tips for Managing Your Money," also includes suggestions for parents and caregivers on saving for a child’s future and teaching youngsters about money. Most of the tips in the new guide are intended for young adults. They feature ideas and information on:
. Saving money to meet specific goals, made easier with the help of automated services;
. Mobile banking by smartphone;
. Building a good credit record;
. Obtaining and repaying student loans;
. Getting a good deal on an auto loan;
. Avoiding mistakes with credit cards;
. Recovering from debt or bill-payment problems; and
. Guarding against fraud, including identity theft.
Guidance for parents and caregivers includes information on saving and borrowing for college expenses, plus tips for teaching money-management skills to young people. The goal of "FDIC Consumer News" is to deliver timely, reliable and innovative tips and information about financial matters, free of charge. The Fall 2012 edition can be read or printed at www.fdic.gov/consumers/consumer/news/cnfall12.