Here’s the safe and sane path for parents to help teenagers become financially responsible. Teenagers know a lot of things adults don’t – from deftly using social media to finding perfect smartphone apps. But they’re still learning about money even as they are spending it. Understanding and managing credit is important for every teen’s financial future. As adults know to well, what’s in a credit report can influence everything from the mortgage rate you pay to your ability to secure a job. These six steps will help your teens from credit novices to pros:
Rev. Dr. Donna Taylor is the Pastor of Andrew Chapel United Methodist Church (UMC) in Montross, VA. Rev. Dr. Taylor promotes best practices by teaching financial literacy workshops and currently serves as Finance Chair in the Rappahannock River District for the UMC. In May 2015, Rev. Dr. Taylor received her Doctor of Ministry from Virginia University of Lynchburg in Lynchburg, Virginia. Rev. Dr. Taylor was born and raised in New York City and recently discovered her ancestral roots in Guinea-Bissau, West Africa. Rev. Dr. Donna Taylor is married to David Taylor and they have a son and a daughter. Their daughter is a educator and son is an Active-Duty Senior Seaman in the Navy married with three children. In her leisure time, she enjoys traveling, reading, swimming, writing poetry, crocheting and spending time with her family.