Helping Teens Get Good Grades in Money Management: A How-To Guide from the FDIC

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 http://www.fdic.gov/consumers/consumer/news/cnsum06.

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.

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 http://www.fdic.gov/consumernews.

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Marsha A. Goetting, Ph.D., CFP®, CFCS

Professor and Extension Family Economics Specialist

Dept. of Agricultural Economics & Economics

P. O. Box 172800

208 C Linfield Hall

Montana State University

Bozeman, MT 59717-2800

E-mail: [email protected]

Voice: 406-994-5695

Fax: 406-994-4838