Shopper's Market: Teen Credit 101

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According to a 2011 Schwab survey 75%.

Of teens.

Consider learning more about money management a top priority.

And 86% would like to figure it out before making credit shredding mistakes in the real world.

We need to teach them gradually.

How to have a savings account how to manage.

Checking account how to write a check and make sure the check doesn't balance how to charge and then responsibly pay off what they actually now.

When it comes to credit cards teens need to now it's not -- money.

You don't get a credit card to just go out there -- shop Willy Nilly and be able to spend an act as if it's free money.

The -- really does need to know that this money -- to be repaid so you should only charge on that credit card.

Which you can reasonably payoff at the end of the month -- also need to know the basic concept of interest rates the idea here is for.

Young people to understand.

You know with this 14% APR means its annual percentage rate means that you know.

For every 100 dollars you -- if you take a year to pay -- -- that'll be an extra fourteen dollars one toppled.

The hundred dollar that you charge being lazy with your payments can have a long term impact on your credit rating.

It's imperative in today's society to maintain solid credit rating because your.

Michael credit score is going to determine everything from your ability to rent an apartment to get a car to get student loans and more.

A bad credit rating for teens could have a negative impact down the road on a career.

A recent survey from the society for human resources management shows that about 60% of employers.

Are performing credit checks on some or all of their employees.

In New York Brenda Buttner Fox News.

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