I'm generally against loaning money to family - including the kids. Instead, I recommend they find other resources. But sometimes lending money to kids can be a win-win. At the very least, it doesn't have to be a lose-lose.
It's not surprising that banks and financing companies aren't winning any popularity contests with teens. But like many financial literacy educators, I'm concerned that kids aren't learning strong life skills to manage their finances.
Now is the moment to start teaching young Americans the ins and outs of personal finance. With higher than average unemployment rates and ballooning student loan debt, young people inhabit a daunting financial landscape.