If you have a teenager at home, you’ve probably taught them how to drive and how to do laundry. But have you taught them how credit works? Consumer watchdog Teresa Murray with US PIRG says many parents assume their kids already know the basics of budgeting. Usually, they don’t. And the consequences can follow them for years after they leave home.
Murray’s core lessons are simple. Understand needs versus wants. Avoid impulse spending. Protect personal information online, since oversharing on social media can open the door to scammers. And track spending, even informally in a note on your phone, so costs stop being invisible. Her biggest warning is about credit history. A lousy credit score can make renting an apartment difficult after college, even with a good job, unless a co-signer steps in.
For Suncoast families, this is practical stuff. Many of our kids will rent their first place near Sarasota or Bradenton, take a first job, or move back home for a season. A little financial groundwork now beats a costly lesson later. The FDIC also offers resources for parents, including school-based youth banking programs that let students open real savings accounts. Ask your school district if it participates.
What money lesson do you wish someone had taught you before you left home? Tell us in the comments.
