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  • Contracts: Know What You're Getting Into

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Parents, Teens, and Money:6. Contracts: Know What You're Getting Into

  1. Credit 101: What credit is and why it's important
  2. Understanding credit cards
  3. Understanding banking services
  4. Understanding loans
  5. Creating a livable budget
  6. Contracts: Know what you're getting into
  7. Identity theft
  8. Other helpful resources
  • Discussion AID - Talk to your teen about common types of contracts. Learn more
  • SHARED Activity - What to look for in a contract. Start now

  • Your teen will encounter many kinds of contracts and agreements as an adult. Here are a few items pertaining to contracts you should discuss:

  • What is a contract?

    Broadly defined, a contract is a mutually binding agreement between two or more parties to either do or not do something.

    Learn more >

  • Signed, sealed, delivered — it's yours

    Make sure your teens realize that their signature is more than just an autograph.

    Learn more >

  • Other precautions to take

    Tips your teens should consider before signing any contract or agreement.

    Learn more >

KEY Message - Many types of agreements you enter into, both formal and informal, are considered contracts, with potential penalties for not meeting all terms and conditions. Always read any agreement carefully before signing.
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