HELP PLEASE I NEED THIS AS SOON AS POSSIBLE!!! Sixteen-year-old Janet has earned money the last few years by babysitting and shoveling snow for neighbors, who pay her in cash which she mostly spends on clothes and snacks. This summer she is applying for her first formal job, and because she’ll be paid by check or direct deposit, her parents are allowing her to open a checking account. Janet is excited, until she does some quick Googling and finds out she can’t legally open an account until she’s 18. She finds these other options:

Joint accounts

Custodial accounts

Education

Prepaid Cards

Answer This:

Which of these four banking options is probably best for Janet? Why?

Now that Janet knows her parents will need to be somewhat involved in her bank account, what questions or concerns should she raise with them before they open an account?