Back-to-School in Jacksonville: Financial literacy for parents and teens

Action News Jax is teaming up with the Jacksonville Moms Blog for back-to-school!

Anchor Phil Amato and mommy blogger Kristen Buttacavoli sat down with VyStar Credit Union's Brian Corson to talk about financial literacy for families.

Some tips include:

1. Challenge kids to save for purchases they really want.

2. Debit cards are a great way to teach teenagers how to manage their own money. Unlike a credit card, they can't get into trouble with debt but they can learn how to manage an account.

3. Talk to kids about scams and teach them how to keep their information secure.

4. Come up with a financial game plan for college together.

5. Utilize programs such as Florida prepaid or a 529 savings plan to save for college.

6. Teach your kids the importance of investing. Talk to them about how you invest to grow your income and help them set up accounts such as a 401k when they get their first job.

You can access more financial tools offered through VyStar Credit Union by clicking here.

Stay with Action News Jax for all of your back-to-school news. You can tune in weekdays starting at 4:30 a.m. on FOX30 or check out our back-to-school page.

Cox Media Group