Is Your Teen Credit Smart?

Today’s teens are bombarded with all types of credit card offers. Consider these facts:

• Nearly 32% of high school students have credit cards, along with 82% of full-time college students, according to bankruptcy attorney Steve Taieb, author of The Debt Trap.
• The average balance on a young adult’s card is a whopping $4,000, according to Consolidated Credit Counseling Services.
• Combined with student loans, many college seniors enter the job market with debts that exceed $20,000.

With your counsel, however—and with a little practice before leaving home—your children can become savvy credit users, learning about budgeting and the mechanics of paying their bills. Over time, they can also build a positive credit history.

Here are nine tips that can help you nurture your teens’ good credit habits.