Security Strategies for Kids When Spending and Saving

Need practical advice you can share with your child on keeping their money and personal information safe when shopping, banking, and going online? Share this article, which features simple strategies for financial security they’ll use throughout their entire life, including tips for protecting money at home and online, safeguarding personal information, and avoiding sneaky scammers.

Your money is yours to use for the things you want and need – whether it’s having fun with friends or saving up for something special. You certainly don’t want it stolen or lost to an online scam. 

In this article, we’ll give you some helpful tips for keeping your money safe and sound at home and online. We’ll also talk about why it’s important to protect your personal information and avoid scammers. 

Hide and Seek: Where’s the Best Place for Your Valuables?

You’ve been saving up your allowance for months to buy a new video game system or bike. But where’s the best place to keep all that money?

• Try not to leave money or cards out in the open. Leaving your valuables laying around means they are likely to get lost or even accidentally thrown away!
• Use creative and sensible hiding spots. Maybe you have a piggy bank, small safe, or jewelry box where you can safely stash your cash and cards in your room. Make sure you pick a spot where others won’t be able to see it, but one that’s not too tricky for you to remember.
• Tell a trusted adult. If you have a lot of money saved up, let a parent or trusted adult know. They might have an even better idea for keeping it safe, like opening a bank account. 

Beware the Dangers of Bragging

It may be tempting to show off what you’ve saved, but bragging can make your money a target for people who’d like to steal it! Keep quiet to avoid drawing unwanted attention. 

Protect Your Personal Information: It’s Valuable!

Your personal information includes things that are unique to you – like your name, address, phone number, online passwords, and Social Security number. Keeping this information private helps protect you from scammers who want to steal your information. So, how can you keep this info safe?

• Don’t share your passwords. Your passwords and PINs are your business only.
• Be cautious online. Be careful about what you post on social media, and never reveal personal details like your address or phone number.
• Ask an adult to shred or destroy documents instead of throwing them away. 

Staying Safe Online: Be a Digital Defender

Online scams are common, but that doesn’t mean you have to be a victim! These smart strategies will keep your information and money safe!

• Set strong passwords. Use a mix of letters, numbers, and symbols to make passwords extra tough to guess. Try not to use the same password for multiple accounts. Think of it like having different keys for different locks. Also change your passwords often, so scammers can’t guess them. If you’re not sure how to create a secure password, ask an adult you trust.
• Be cautious when using public Wi-Fi networks. Think of public Wi-Fi as a public park: a great place for hanging out but not a safe place for sharing personal information. Try not to shop or otherwise share personal details on public networks.
• Don’t get hooked by phishing! Phishing is when scammers try to trick you into giving them your personal information. They might send fake emails or messages asking for your personal details or asking you to click on links. Don’t click on any links or download any attachments unless you’re completely sure who sent them. Always ask an adult to help you determine if an email or text is safe.

Be Safe With Cards: Tips to Use When You Shop or Hit the ATM

If you’re using a debit card or credit card, it can be an easy target for scammers if you’re not careful. Here are some points to remember when you’re shopping or getting cash at the ATM.

At Businesses:

• Protect your PIN. When entering your PIN, cover the keypad with your hand.
• Stay alert. When using your card, pay attention to your surroundings. Try not to let anyone get too close while you’re paying. Have an adult with you, if possible.
• Secure your card. Put your card away as soon as you’re done using it.
• Check your receipts. Always check to make sure that the amount you were charged is correct. Mistakes happen, so make sure everything adds up, and ask an adult to help you if it doesn’t.

At ATMs:

• Choose safe locations. Use ATMs that are well-lit and busy, and try to go during the day.
• Be ready to go. Have your card close at hand and know your PIN before you start.
• Watch your back. Look around before and while you use the ATM to make sure no one is watching you.
• Ask for help. If you’re unsure about anything, don’t hesitate to ask a bank employee or trusted adult for assistance.

Spot Scams: Don’t Fall for Tricks!

Some common scams target kids and teenagers, so be on the lookout for these:

• Fake contests that ask for personal information
• Phishing emails that ask you to enter information, click on a link, or download a file
• Online shopping scams, often featuring deals that seem too good to be true or appear on knock-off or suspicious websites

How can you spot a scam? These are some red flags:

• “Amazing” offers. If it seems too good to be true, it probably is. Ask an adult you trust for advice.
• Requests for personal info. Nobody online needs your private passwords or Social Security numbers.
• Urgent deadlines. Scammers like to pressure people into making quick decisions without thinking. 

If you think you’ve encountered a scam, tell a parent or trusted adult right away. They can help you figure out what to do next. 

Congratulations – you’ve learned how to keep your cash secure at home, protect your personal information, stay safe online, and avoid common scams. Keeping your money and personal information safe is very important. By being aware, you can enjoy what you earn and save while staying safe from scammers.