Coming of Age: How Parents Can Help College-Bound Teens Balance Independence and Safety

The college years can be an exciting time for young adults as they get their first taste of independence and self-sufficiency. However, the responsibilities of coming of age, such as owning a car, renting an apartment, or making credit card purchasing decisions also come with significant risks. 

In the final article of a two-part series on teens coming of age, USI’s personal risk experts share essential tips that can help parents and guardians enhance their child’s personal safety, health, and financial security during their college years.

The article covers these key areas:

• Reducing the risk of automobile accidents
• Managing social media and other cyber-related threats
• Maintaining a healthy financial lifestyle.

Reducing Risky Driving Habits

Teen drivers, particularly 15 to 19 years of age, have the highest rate of motor vehicle crashes among all age groups in the United States and contribute disproportionately to traffic fatalities, according to the American Academy of Pediatrics. The research also shows another sobering statistic – one out of every four teenage drivers will be involved in a crash.

Distracted driving is the primary cause of teenage auto accidents. Teenagers are more likely to read and send texts, eat, and listen to loud music while driving. Lack of sleep, which is common among students who stay up all night to study or engage in social events, is also a significant factor. According to the American Academy of Sleep Medicine, drivers age 16 to 24 years are 80% more likely to be involved in a drowsy driving accident.

Parents can play a critical role in forming their teens safe driving habits. They can stress to young drivers the dangers of texting or taking their eyes off the road to glance at phones. Although phone use while driving should be discouraged entirely, parents can also help by investing in Bluetooth technology to facilitate hands-free calling. At least 50 hours of adult-supervised driving, which most states encourage as part of the graduated driver licensing system, is highly recommended. 

Following are additional safe driving tips that parents can emphasize:

• Create rules around your teen’s driving privileges and the consequences of violating them. The rules may include not driving after dark, always buckling up, and zero tolerance for drinking and driving or texting and driving.
• Consider installing a phone blocker that prevents your teen from being able to use the phone while in the car. These gadgets can also be obtained from certain insurers for free.
• Set a good example. As a parent or guardian, do not drive 90 mph on the interstate or text while driving. If you do it, your teen will think it’s okay too.
• Consider establishing a separate insurance policy for your teenager or increasing your liability insurance for greater protection if you decide to keep your child on your policy.
• Encourage your teen to use ride-sharing services, especially for late-night social events that involve driving longer distances.

Managing Cyber Threats

College students can be fiercely opinionated and emotional, but it’s important for parents to teach them to exercise restraint online, especially on social media. The inability to constrain activities online, which can result in teens making inappropriate comments or sharing explicit photos, can have a significant impact on their own and parents’ reputation and finances.

The risks may include legal responsibility for libel, slander, and difficulty obtaining gainful employment. In addition, transmitting photos or videos of other teenagers without their consent can lead to criminal and civil action against the person who transmitted the material.

Parents can also educate their children on social media etiquette and appropriate behavior. Children must learn to promptly report cyber threats, such as online bullying and harassment, as well as untoward advances from sexual predators.

USI can also help families and parents obtain suitable liability coverage for cyberbullying injuries, even if it is caused unintentionally.  

The following best practices can also help your teen protect their sensitive personal data:

• Limit use of public Wi-Fi whenever possible.
• Do not access bank accounts or other financial sites on shared computers.
• Install anti-virus protection on all computers and mobile devices.
• Use strong passwords.

Building a Healthy Financial Lifestyle

Instilling strong financial habits in college-bound teens can help them avoid financial headaches later in life.

As a parent, it is incumbent that you explain basic financial concepts, such as maintaining a savings account, using checkbooks and keeping a daily budget to avoid overspending. Teens should also be taught credit-building practices, such as paying bills on time, staying below the credit card limit, and periodically checking credit reports.

Parents can also help their teens build a credit history by adding them as a joint credit cardholder or authorized user. Parents can limit the amount of money a teen spends each week or month and set other stipulations such as pre-approving cash advances.

Consider sharing the following tips on credit card usage:

• Pay the balance promptly and more than the monthly minimum whenever possible.
• Do not exceed the credit limit. If you can pay for what you need with cash, check, or a debit card, do not use the credit card.
• Do not finance living expenses with a credit card – reserve credit cards for emergencies.
• Look for a card with a low Annual Percentage Rate (APR). Remember all credit cards have different terms and conditions. Learn what they offer before signing up.

College is all about learning and experience. For many teens it is the first adult experience outside of the home. Parents can make this experience safe and enjoyable for their teens by being proactive with guidance. For help with individual recommendations and customized insurance solutions, contact your local USI personal risk advisor.