Teens who don’t have a checking account should get one, says Pam Krueger, host of the PBS personal finance show “MoneyTrack.” “It gives them valuable practice making deposits, keeping track of balances and using a debit card wisely before they are on campus and on their own,” she says. And these days, their bank accounts are as close as their phones, so no excuses for being overdrawn.
Sports Are Great, But Beware Banking on an Athletic Scholarship
The National Collegiate Athletic Association estimates there are nearly 8 million young men and women participating in high school athletics in the United States. However, only 460,000 of them (about 6 percent) will compete at NCAA schools. Play the game because you enjoy it, strive to be your best, and be committed to your team. But concentrate on academics.
You’ve got honor-roll grades, varsity sports and some weekend volunteer work but want a little something extra to make you stand out. An online course or two might be just the thing to convince the admissions board that you have the drive – and the ability – to perform at a college level.