Teaching kids financial independence is exciting—nothing beats watching them manage their own money like mini financial gurus. But let’s be real: the internet isn’t all rainbows and flowers. From hacking to scams to identity theft, there are plenty of risks out there.
That’s where you come in! With these simple tips, you can teach your kids how to bank safely online while building habits that will keep their money secure.
1. Peek, Don’t Freak: Monitoring Transactions
Keeping an eye on your kid’s spending activity doesn’t mean becoming a helicopter parent. Set up alerts for transactions so you can get a heads-up if anything weird pops up. It’s like having a money watchdog that lets your kid flex their financial muscles while you’re still in the background, quietly making sure everything’s safe.
2. Passwords Are Like Secrets—Keep ‘Em Safe and Strong
Help your child create passwords that are tougher to crack than the Da Vinci Code. Think unique combos of numbers, symbols, and mixed-case letters. Remind them never to reuse passwords—a lesson that’ll keep their accounts safe and make them the arch enemy of all hackers and phishers everywhere!
3. Scams, Spam, and Phishy Links
Time to channel your inner Sherlock! Teach your kids to spot phishing scams, those sneaky messages promising riches or screaming “Save me!” Explain that no one will ever ask for passwords or PINs via email. Make it a game: spot the scam! That way, you will be superheroes as you save the day (and their Verity account).
4. Privacy Is Power
Remind your kids that PINs, card numbers, and security questions are top-secret. No sharing with friends, classmates, or random internet strangers. By keeping their info private, they’re guarding their identity like it’s the crown jewels.
5. Log Out and Chill
Logging out isn’t just a good idea; it’s a must for online safety. Drill this habit into their heads, especially if they’re using a shared device. It’s a small step that’s worth its weight in digital gold, and prevents anyone who gets their hands on an unlocked device from accessing their personal financial information.
6. Wi-Fi Wise: Use Secure Networks
Public Wi-Fi may be fine for streaming videos, but banking? Not so much. Teach your kids to stick to private networks and trusted devices when handling their finances. It’s an easy way to dodge unnecessary risks.
7. Lock It Down: Set Spending Limits
Think of spending limits as the training wheels for money management. Not only do they keep things secure, but they’re also a great way to teach responsible spending. You’ll be able to set limits for online, in-store, and ATM transactions in the upcoming Verity Premium subscription (click on “Upgrade” in the app to join the waitlist!)
Final Thoughts
Every tip here is a stepping stone to raising kids who are both financially smart and cyber-safe. Make sure to create a judgment-free zone where your kids feel comfortable asking about anything suspicious or confusing. Whether it’s a weird email or an unexpected transaction, encourage open dialogue. After all, tackling online safety together is a team sport.
With tools such as a money management app and a prepaid card like Verity, you’re not just giving them a prepaid card—you’re giving them the skills and confidence to manage their money responsibly while dodging online pitfalls. So take a bow - you’ve got this parenting thing down!
About ISY:
Internet Safety for Youth (ISY) is a nonprofit organization that works with cyber security-related problems and solutions with the core focus of improving the virtual world for youth. Its platform is a resource for different kinds of internet safety-related issues, with answers to many queries received by parents. The organization is funded by Mitisol Limited.
.jpeg)
.png)
.png)
