BMO Harris’ Financial Tip of the Week: Teach Your Children About Online …
News from The Herald |

— /PRNewswire/ — As part of BMO Harris Bank’s ongoing commitment to financial literacy and Making Money Make Sense, BMO Harris is providing weekly financial tips. This week’s tip offers Helpful Steps for Parents to teach their children about online financial safety.

In the United States, you can’t get a credit card until you’re 18 years old. To protect your own finances and at the same time, prepare your children for the day they get their first credit card – discuss these basic online financial safety tips with them:

Protect your information: Never give out your credit card number (or your PIN) to anyone, including your children. Explain to them the importance of protecting your personal information from identity theft.

Include your child in the process: If you are going to make an online purchase on behalf of your child, walk them through the steps you take in order to ensure that a site is legitimate and that financial transactions are secure.

Check your statements: This monthly review will help you catch any misuse or unexplained purchases. And if your children see you putting a tick mark next to each item on your credit card bill, they’ll know you carefully check every item – it will encourage them to do the same when they’re older.<…………… continues on The Herald |

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