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Summer job, consumer credit counseling can offer opportunity to learn
By Marvin Milner on Jun 9th, 2010
Learning about financial responsibility at a young age may help consumers build sound financial habits for the future.
And, getting that first job as a teen may be one step that will lead in that direction. According to a poll taken by NorthWestern Mutual's TheMint.org, 64 percent of respondents said they got their first regular paycheck from work at a summer job.
Meridee Maynard, a senior vice president with Northwestern Mutual, said that this type of summer employment presents teens with the chance to learn about handling their finances, which can help them as they get older.
"A steady paycheck provides most teens with their first opportunity to create a real budget and stick to it," Maynard said.
Other experts have noted that parents play an important role in helping their children develop sound financial habits. Along with encouraging saving money, adults should teach younger people about the dangers of credit and how it can be used properly.
However, even some adults may need some assistance when it comes to managing their finances. This assistance may be offered by consumer credit counseling services, which can help with budgeting and other financial strategies.
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