If you’ve ever watched your teenager toss a red hoodie into a load of whites, you’ve already faced one of parenting’s great truths: they might know every viral dance by heart and can troubleshoot your phone faster than tech support, but when it comes to the everyday basics of adulting—like laundry, grocery shopping, or banking—you could fill the school gymnasium with what they haven’t learned yet.
With back-to-school season in full swing, those life skill gaps start to matter more, and it’s not just about class schedules and supply lists. Now is the time to teach your teen real-world basics they won’t find in a syllabus. Whether they’re heading to college, starting a part-time job, or managing their own money for the first time, this is the perfect moment to build their financial confidence.
Here's a checklist to kick off their financial education and set them up for success.
1. Direct deposit gets your paycheck faster
It’s safer and quicker than waiting for a paper check and some banks offer perks for using it. Your workplace just needs your routing and checking account numbers to set it up.
2. Banking apps are powerful tools
You can check balances, transfer money, deposit checks, and even learn more about your spending habits. Learn how to use yours before you really need it and use the information to help you plan and save.
3. Overdraft protection isn’t a pass to overspend
It can help in a pinch, but it’s not unlimited. Spending more than you have can still cost you, so it’s better to keep an eye on your balance.
4. Mobile alerts are your money’s early warning system
Set up notifications for low balances, deposits, or unusual activity—and pay attention to them! It’s like having a financial radar in your pocket.
5. Refunds take longer than charges
When you buy something, the money leaves your account fast. When you return it for a refund, it can take days or even a week for the transaction to show up in your account. This is normal, but don’t count on that money being available right away.
6. Automatic transfers to savings = future you saying thanks
Even small amounts add up. Set up a recurring transfer to your savings account to save for a car, that study abroad trip, or a financial cushion that will help you move into your first apartment.
7. Suspicious activity can freeze your account
If your bank sees something unusual, they might freeze your account to help protect you. Make sure your contact info is current so fraud alerts reach you fast—but learn what your bank’s fraud alerts look like so you don’t get scammed. Your bank will never contact you to request confidential information like passwords, accounts numbers, or two-factor identification numbers.
8. Linking to payment apps is easy, but not risk-free
Third party money transfer apps are convenient, but they aren’t a bank and may not offer fraud protections or guarantees. If you accidentally send money to the wrong person or get scammed, it’s often harder (or impossible) to get that money back.
9. Not all ATMs are free
Using an ATM outside your bank’s network can lead to unexpected fees. Even if you don’t withdraw cash often, you should know where to get it when you need it. Use your bank’s app or website to find your nearest fee-free ATM.
10. Your account isn’t a group chat
Never share your login info or PINs even with friends you trust. It’s your money, and your responsibility to keep it safe.
11. Your bank is here to help
Calling customer service or walking into a branch can seem intimidating when you’re doing it for the first time, but that’s what customer service is for. If something’s confusing or seems wrong, reach out. It’s better to ask than to guess and hope for the best.
A little guidance now can help your teen avoid costly mistakes later and build financial confidence that lasts beyond the classroom. Know a parent or teen who could use this checklist? Share it and help someone else start the semester on solid financial footing.
