As a mom of three boys, I feel it is my job as a parent to teach my kids to be frugal and to handle their money well. I have learned now that I have a son off to college that the things I do like finding the best deals, couponing and saving are all things they remember when they leave home.
I often wonder if I have done enough to prepare my children for when they leave the nest so to speak. One of the best things you can do is to teach them to live within their means and not have to rely on credit.
A great way to teach this very important skill is to have a debit account the parent and teen can manage together. This way you can give them money or their allowance for the jobs they complete at home or whatever arrangement that you have set up. It is also great if you need to transfer money to them on the spot when their is an issue or an urgent need. You could even deposit money to their account so they can pick up groceries on the way home.
I love that Capital One 360 has a new debit account just for this with no fees and no minimums. You could get $50 when you open a 360 Checking account from Capital One 360. Over 38,000 free ATMs and no overdraft fees.
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