Guiding Your Teen on the Path to Financial Wellness

In fact, one in five U.S. teens lacks basic personal finance skills, according to research by the National Endowment for Financial Education (NEFE). But you can change that. By starting early, you can take a few steps to put your teen on the path to financial independence. So let’s get started.

Open a Checking Account for Your Teen

Your child may be earning some income through a part-time job, summer job, allowance, or a combination of these. But it’s important for your teen to park this money somewhere safe, such as in a checking account.