GUIDELINES

GUIDELINES

For young people and plastic

Kids should start paying attention early to small fees on prepaid cards, credit cards and debit cards; do some basic math to see how they can add up to huge costs over time.

One resource for parents or teachers who want to discuss money: www.mijumpstartcoalition.org. Another site that offers information relating to financial literacy for young people: www.federalreserveeducation.org.

American Express, in partnership with iVillage, has a site called “The Talk” to help discuss money issues with teens. www.ivillage.com/thetalk.

Parents can check out options for students at their own bank or credit union. In some cases, you may be able to open a student account with fewer fees or lower minimum-balance requirements than for an ordinary account.