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The thrill of opening your first bank account or getting your first credit card is unforgettable. You get that certain sense of independence. You have the ability to deposit, withdraw, and spend money - no one needs to come with you.
You have the power. Yet, you must be careful that such feelings of power do not turn into feelings of invincibility.
Just because your parents do not hover over you when you buy your new phone or MP3 player, it does not mean that the precautions they take against identity theft are obsolete.
Also see: Use your credit card smartly
Text: Business Line
Image courtesy: Getty
