Let The Teens Manage Their Money

By Florencio Jr Sevilla

One of the reasons why teens love to work is that they want to have their own income. Teens want to have discretionary funds they can use without their parents poking at them and auditing all their cents. If the parents would let their teenagers manage their own money, they should be ready to give them advises on money management such as budgeting and fund management. In this way, they can be sure that their teens will not just squander their money on less important things.

The following may help the teens manage their money:

Teach the teens to save
Encourage the teens to open a savings account to deposit their earnings. Even just a few dollars a week will be good enough. If their parents are giving them allowances, they can talk to them and ask them to set aside some dollars in the bank. When the time comes that they need to withdraw, they will be amazed to see how much money they have saved.

Teens must spend wisely
The biggest nightmare among the teens is to wake up with nothing to spend, yet the next allowance is still a few days away. They will be forced to borrow and this will only add more problems. Spending wisely is a must especially to those with tight budget. If the school is just a walking distance, they should be happy to take a walk and enjoy that needed exercise. Need to go dating? Why not ask their crushes to have a chat with them in the park, this way they don't need to spend much. A can of soda could do the trick.

Introduce the teens to fund management
There are many plans of fund management that are available to teens. With a few dollars, the teens can have the opportunity to increase their money under the watchful eyes of money experts. This will also add pride to the teens for having invested money like what the grownups did. In addition, requiring them to pay taxes out of their investment will make the teens contributors to the national coffers.

Get a checking account
Getting a checking account will teach the teens some financial responsibility. Just imagine the teens issuing some checks for their purchases and or services they acquired. Knowing that a bouncing check would have legal repercussions, the teens will be extra careful in handling their finances.

Let them get credit cards
The feel in getting credit cards nowadays is greatly different as compared many years ago. Before, a person is jubilant when his application is approved because it proves that he is credit worthy. Today, credit card offers are numerous that it will make the eyes bulge. The teens must be extra cautious on the type of cards they will apply. The benefits are vaguely explained in the ads or in the emails when credit card companies promote these cards. Most often, actual charges and interest rates are hidden, only to make the teens sorry for just freely making purchases.

Credit cards are there to allow the teens to purchase, but they have to purchase only those things that are needed. They must avoid being compulsive buyers.

Parents have a lot to explain to their teens about money management. No matter what the teens want, the parents are in the best position to tell what is best for their teenagers. Just remember that the parents could contribute much to the success or failure of their teens. Let the teens manage their money and make them real money managers.

FLORENCIO JR. L. SEVILLA is a freelance writer. He presently resides at Calaran, Calamba, Misamis Occidental.

He publishes the following websites:

About Teens at http://elsaguirigay.googlepages.com
About Marriage at http://makemarriagelast.googlepages.com

Article Source: http://EzineArticles.com/?expert=Florencio_Jr_Sevilla

7 Reasons Citibank Credit Cards Can Serve You

By Morgan Hamilton

Citibank has been around for nearly thirty years as a marketer of credit cards. The company came in when two credit card companies were already dominating the market and, through their aggressive consumer marketing campaigns, rose to the leader of a trillion dollar industry.
So how did they do it? And why are Citibank credit cards the most attractive to customers? Here are seven reasons why Citibank credit cards are king.

Long History - Due to Citibank's long history as a lender, they have a better idea of what consumers want than other companies. Citibank offers the incentive programs that customers are really interested in, as well as keeping their fees and interest rates competitive.

Excellent Cash Back Rewards - Unlike the 'points' systems offered by other cards, Citibank offers cold hard cash to their customers. The average percentage is about 2% since the amount you get back depends on where you are shopping. Most cash back cards only give about 1% back to their customers.

Excellent Overall Interest Rates - While most Citibank credit cards offer a zero percent introductory rate for up to twelve months (with four months the average), the final interest rate is also very good in comparison to other credit cards out there. Some Citibank cards offer APRs as low as 13.74% with the average not much higher.

Excellent Security Features - Citibank offers their customers the option to put their face on the front of their card to provide security and prevent identity theft. They also have it in their policy that they will not hold any customer responsible for any amount of fraudulent charges. Many other companies have the option of charging you up to $50 of unauthorized charges made on your card.

Friendly and Knowledgeable Customer Service - Citibank trains their customer service representatives to understand the needs of their customers. They are friendly and helpful in a world where too many customer service reps are clueless and hostile.

No Annual Fee - The majority of Citibank credit cards come with no annual fee. This means a savings to the consumer who is often "taken to the bank" by credit card companies.

Excellent Online Services - Citibank has an innovative and interactive website set up to assist their customers with all sorts of credit card services. Customers can pay their bill online, chat with customer service, and even perform online balance transfers.

With all of the benefits Citibank offers, you can be sure that you are dealing with a professional organization that is sensitive to your financial needs.

Morgan Hamilton is an experienced Financial Adviser who has written a number of informative articles on the topic of Citibank Credit Cards. Visit FindQualityCreditCards.com to learn more about Citi Credit Card Offers.