Teens Guide To Money Is A Website Tool For TeensTo Learn All About Money

All the topics are ones you should know about-some you might want or need now (like how to find a paying job).  Others-like Individual Retirement Accounts-you should learn about, but won't need till later.  Some of you might be in your early teens and just want the basics.  Others will be getting jobs and earning money and want to know how to save and invest.  Still others will store this information mentally, or add our site:  Teens Guide To Money ( to your favorites, and refer to it when you get to college or when you start to make money and really need it. The goal here is to provide you with the information you need, on one site, to make your own wise financial decisions and your own financial blueprint to success.

We would also appreciate your feedback and ideas on additional topics you would like to see discussed on this site.  We will post some of the comments on the Feedback section below.(


  The site is broken down into four major categories:  Earning , Saving , Investing , and Spending .  Under each major category you can click on a topic that interest you.  You can read it completely or highlight and click on a sub-topic that interest you. 

The top of each section, called Basics, gives a quick overview.  This might be all you want at this time-no problem.  However, if you want more in-depth information, continue reading.  Really intrigued?  Then click on to our links to trusted expert sites we have provided.





New Federal Gift Card Rules Go into Effect for Cards Issues After Agusut 22 (diclosure requirements take effect on 1/31/2011).

When you purchase store gift cads, general-use prepaid cards, and gift certificates (not included are telephone, re-loadable, rebate and loyalty cards, there are a few other exceptions..See details) card issuers will have to follow new rules designed to help consumers.  The major requirement is full disclosure of fees and expiration dates.  This includes:  1. No nonuse fees unless you don’t use it for more than 12 months.  2. Only 1 fee can be imposed per month. 3. Cards must hold their value for five years.  If you have a pre-paid card and put additional funds in at a later date, the 5 year clock starts from that date again.  4.  Issuers must clearly disclosure fees to potential purchasers. For More Information Go To:


All New Federal Student Loans Must  Come Directly From the Department of Education... No Private Lenders  -  As Of July 1

"As a result of the Health Care and Education Reconciliation Act, beginning July 1, 2010, federal student loans will no longer be made by private lenders under the Federal Family Education Loan (FEEL) Program.  Instead, all new federal student loans will come directly from the U.S. Department of Education under the Direct Loan Programs."


Affordable Health Care Act Allows kids Under 26 to stay on Parent's Plan. Also, No Pre-Existing Condition Exclusion for children under 19 - As Of  September 23

 Starting September 23, children under 26 will be allowed to stay on their parent’s family policy, or be added to it. Group health plans that are grandfathered plans can limit this option to adult children that don’t have another offer of employment-based coverage.  Many insurance companies and employers have agreed to implement this program early, to avoid a gap in coverage for new college graduates and other young adults.

No Pre-Existing Condition Exclusions for Children Under Age 19. Each year, thousands of children who were either born with or develop a costly medical condition are denied coverage by insurers. Research has shown that, compared to those with insurance, children who are uninsured are less likely to get critical preventive care including immunizations and well-baby checkups. That leaves them twice as likely to miss school and at much greater risk of hospitalization for avoidable conditions."


Most Teens Won’t Be Able to Get A Credit Card without a Co-Signer  - As Of February 22

After March 1st, teens and consumers under 21 will need a co-signer who is willing to take on the responsibility of debt, in case you don’t pay.  Additionally, the co-signer must approve a request for a limit increase.  However, if a person under 21 can prove they have the ability to pay; this age limit might be waived.   See our section on credit card changes managing credit wisely





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Financial Planners & Other Places For Financial Advice



There are lots of ways to get financial information and advice.  You can use a broker (see Stock Brokers & Brokerage Accounts ) for your securities investments; some full service brokers even offer financial planning.  However, there are many other places you can go to get financial advice.  The advice ranges from free, or a reasonable sum, to very expensive.   You can work with a financial planner to help you manage your complete financial assets.   You can also join an investment club or purchase an investment newsletter, newspaper or magazine.  There are television stations and programs that also provide investment information.  Finally there are web resources, both for a fee and free.


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Selecting A Bank



You probably have a few, if not many, choices of banks where you live or go to school.  But like shopping for anything, you should look around first, especially when it comes to banks.  You need to visit the branch office where you think you will conduct most of your banking and bring a list of questions to ask the new account officer.  In Selecting A Bank you have to ask a lot of questions and compare the answers.  Go in and sit down with a bank account executive.  Don’t be afraid or think as a teen you are too small of an investor.  They will eagerly want to talk to you since they realize first you are smart, since you want to open a bank account, and second that as a young investor you...

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