100 Mother’s Day Quotes To Show Mom Your Love in 2024
Do You Want Your Teen To Be Emotionally Healthy?
Source: Mart Production/Pexels/Used with Permission
"I can't stand my parents. I am just waiting until next year when I leave for college and don't have to deal with them anymore."
"My mom drove me to therapy today because I'm grounded from the car for 2 weeks. I got a speeding ticket. It sucks not to have a car but I guess I get why they did that."
My teen clients have lots to say about their parents in our therapy sessions. Which one of these quotes sounds like the experience of connection with parents?
While we all need connection with other humans, it can be a lifeline for teens and emerging adults. Adolescents are discovering themselves and finding their way in the world beyond family. On their way toward independence, social relationships with peers become a bridge. During this process of trial and error, as they figure themselves out and find "their people," teens are in a precarious place and critically need predictable and stable connections. Parents and other helping adults are the stakes that ground teens during a time of great change, growth, and necessary risk-taking. These connections have the greatest power to affect, influence, and impact adolescents' emotional health and well-being.
The benefits of connectedness are both protective and reparative for teens and adults who love and care about them. The Surgeon General, Dr. Vivek Murthy, identified teen mental health and suicide rates as a public health crisis in his 2021 Advisory on Protecting Youth Mental Health. In 2017, even before the pandemic, the CDC put out a report titled, "Preventing Suicide: A Technical Package of Policies, Programs and Practices." In 2023, Gallup shared a report through the Institute for Family Studies titled, "Parenting is the Key to Adolescent Mental Health." All of these studies found one critical intervention in common: Strong and secure emotional attachment, a mechanism for connectedness, can increase healthy coping and help-seeking behaviors, and has a powerful influence on health and wellness for children and teens.
For such a requisite endeavor, however, it can feel challenging to cultivate and nurture connectedness with teens as they push and pull away. They both need us and do not always want our vital support. Experiencing meaningful connectedness with adolescents and emerging adults is a balancing act. Their evolutionary need is to separate from parents and self-sustain ("I don't need you. I can do it"). Caretakers' evolutionary urges are to nurture and protect; we're sure that we can see a train wreck coming at them from a mile away.
Both are true.
These opposing stances prompt numerous dilemmas for parents and teens to navigate, which have the potential for either greater conflict or greater connection. Achieving the latter takes awareness and efforts to build and maintain a relational base that promotes a connected experience for parents and teens alike. The variables contributing to mental health challenges for adolescents today are numerous and complex. When teens are experiencing mental health struggles, parents can harness great power as a resource within a connected relationship.
My 30 years as a therapist working with adolescents and their parents have taught me that:
Over decades of talking with thousands of teens and reviewing relevant studies, I, along with a colleague and co-author, have been able to identify 5 key skill sets to create and maintain a connected parent-teen relationship: Respect, Authenticity, Kindness, Predictability, and Acceptance can be cultivated and deliberately practiced. As the mother of two emerging adult men, I have also put these skills and strategies to the test while humbly parenting over the past 21 years.
To find a therapist, visit the Psychology Today Therapy Directory.
Welcome to my blog on "Parenting Teens Through Connection". Here I hope parents will feel em
References
Surgeon General Advisory on Youth Mental Health [Review of Surgeon General Advisory on Youth Mental Health], 2021.
Preventing Suicide: A Technical Package of Policy, Programs, and Practices [Review of Preventing Suicide: A Technical Package of Policy, Programs, and Practices], 2017.
Rothwell, Jonathan. Parenting Is the Key to Adolescent Mental Health [Review of Parenting Is the Key to Adolescent Mental Health]. Institute for Family Studies. Https://ifstudies.Org/ifs-admin/resources/briefs/ifs-gallup-parentingteenmentalhealthnov2023.Pdf, 2021.
More referencesTeen Health News
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Best Teen Checking Accounts Of June 2024
Taylor Tepper
Taylor Tepper
Updated 3:47 p.M. UTC June 6, 2024
The best teen checking accounts give young savers hands-on learning experience…with a safety net. Since nearly half of teens have a bank account, per Fidelity, it's important that parents guide young adults toward a product that charges few fees, offers useful budgeting tools and comes with a large ATM network.
Annual percentage yields (APYs) and account details are accurate as of June 6, 2024.
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Best teen checking accountsWhy trust our banking experts
Our team of experts evaluates hundreds of banking products and analyzes thousands of data points to help you find the best product for your situation. We use a data-driven methodology to determine each rating. Advertisers do not influence our editorial content. You can read more about our methodology below.
Alliant Credit Union Teen Checking
Best for military families
USAA Youth Spending Account
Best for interest checking
Connexus Credit Union Teen Checking
Best for financial education
Georgia's Own Credit Union Youth Checking
Compare the best teen checking accounts**Connexus Credit Union Teen Checking offers 2.00% APY on balances under $1,000 and 0.25% APY on greater balances.
We looked at over 300 checking accounts offered by 119 financial institutions, including Bank of America, Capital One, Chase, Citibank, Discover, TD Bank, Marcus by Goldman Sachs and USAA. Overall, we compiled more than 60 data points for each account.
With over 60 data points for each bank, we created a weighted scoring system that culminated in a star rating. Here are the categories we analyzed and how we weighted each.
Fees: 55%As you start out building your finances, you don't need parasitic banking fees dragging you down, which is why we weighted fees as the heaviest factor in our considerations.
We incorporated monthly service fees (25%), the ability to waive those fees (17.5%), overdraft and NSF fees (10%) and all other fees (2.5%).
Minimum deposit and balance requirement: 20%Most teenagers don't have a boatload of money to deposit in a bank account. We considered the existence (or lack of) minimum deposit requirements to open a bank account (15%) and minimum balance requirements to avoid fees (5%).
Access: 15%We rewarded accounts that are part of a wide-ranging ATM network, while also giving some points to available bank branches. We considered the size of the institutions' ATM network (11.25%) and the number of branch locations (3.75%).
Customer and digital experience: 10%Customer experience metrics, including the Trustpilot rating and Better Business Bureau (BBB) grade, and digital experience metrics, such as app ratings, were calculated into the overall score.
Why some banks didn't make the cutMany of the most well-known banks didn't make the cut because they charge fees. As the defacto option for many Americans, huge, brand-name banks don't need to offer the best deals to consumers who already know their names.
Smaller financial institutions are typically more competitive.
National average for interest-bearing checking accountsFor interest-bearing checking accounts, the national average rate is 0.08% APY as of May 20, 2024, according to the Federal Deposit Insurance Corporation (FDIC).
What is a teen checking account?A teen checking account is a type of joint checking account designed for a parent and their teenage child. While both co-owners can make deposits and withdrawals, oftentimes the adult co-owner has certain powers, like the ability to set a spending limit for the teen, lock and unlock the debit card.
Teen checking accounts are useful when your teen starts to make an income and/or starts having bills to pay — their first car payment, for example.
Even if your teen doesn't have their own cash flow yet, providing them an allowance and a debit card via a teen checking account can be an optimal way for them to start building banking history and learn money management.
Checking on account balances, setting up direct deposit, using a debit card and transferring funds are all aspects of adulthood that may be best taught in a hands-on manner. A teen checking account allows this to happen but with a safety net.
"Many banks will have parental controls, such as daily spending limits," said Erin Wood, senior vice president of financial planning at the Carson Group. "These types of oversight provisions can be a great tool."
How to choose the best checking account for teensOut of the nearly 9,000 deposit-insured banks and credit unions in the U.S., start your search with our list from above.
To make a decision on which one, you should:
Here are elements to keep in mind as you look for the best teen checking account — your teen could even help you pick out the right one.
Consider safeguards. Not all teen checking accounts are made equal. Some allow for greater adult control than others. Depending on the account, you may be able to set the debit card limit higher or lower, block access to the card or to online transfers…or not. Choose the controls you want in part based on how responsible your teen is. Student checking accounts tend to have fewer adult controls.
Seek low fees. You likely pay enough for your child's education as is it, you don't need to pay bank fees as well. The best teen accounts don't charge monthly maintenance fees and have low or no overdraft fees.
Look for low balance requirements. "Some banks want you to keep a minimum amount in the account, otherwise you lose interest or get hit with fees," said Nicholas Bunio, CFP in Downingtown, Pa. Most teens work part time and don't make more than the minimum wage. High balance requirements might be a high bar to jump and difficult to maintain.
Explore access options. Being able to navigate an in-person visit to a brick-and-mortar banking branch is likely a skill that will be called upon rarely, but is still useful. Check the ATM network, too, if that type of access interests your teen.
Peek at customer reviews. Look at the bank's reviews online and at the reviews for its mobile app on the Apple App Store or Google Play Store.
Ensure FDIC or NCUA coverage. It would be no fun to build up a banking account balance, only to lose it if the bank went out of business. The second biggest bank to collapse in the U.S. Did so on March 10, 2023 — Silicon Valley Bank. In the event that a bank fails, the FDIC guarantees that depositors will receive at least $250,000 of their deposits back. The NCUA guarantees the same thing for credit unions. You can check this FDIC "BankFind Suite" and this NCUA locator site for coverage.
How to open a teen checking accountDepending on the bank you choose, you may have the choice of whether to open it online or go in person. Either way, you'll need a teenager (or an adult) and the following things.
Teen checking accounts allow you to do the following with your teen.
Helps them build a positive banking history. Similar to how you have a credit history, you also have a banking history. Under the Fair Credit Reporting Act (FCRA), ChexSystems builds a consumer report on your banking, keeping track of red and green flags. Poor banking history, like a series of unpaid fees, can block you from opening new accounts, while positive history helps grease the wheels of any banking application
Teaches money management. Budgeting, managing cash flow, balancing your checkbook — no one is born knowing how to do these things. And doing it yourself is one of the best ways to learn. Here's how to decide on whether to get a checking vs. A savings account.
Lets them figure out how to use banking tools. Teenagers are typically whizzes at figuring out apps. Unleash them on their own banking account app and allow them to master common tools like funds transfer, automatic bill pay, direct deposit, savings goals and more.
Frequently asked questions (FAQs) Can a minor have a checking account?Yes, a minor can have a checking account, but they are often required to have an adult as the owner or co-owner.
Can you open a teen bank account online?Yes, some banks only allow you to open their teen bank accounts online, such as the Capital One MONEY Teen Checking Account.
What is the best bank to open a teen account?We think the best bank for teen accounts is at the top of our list
How much are checking accounts for teens?The best checking accounts for teens don't cost anything in maintenance fees, but, rather, provide some rewards like debit cash back.
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