The new year is a great time to open a checking account for your teens if they don’t already have one, and establishing credit for your college student kids. And for both age groups, get them started using a debit card and fostering the habit of tracking and understanding their spending habits.

It’s never been a better time to open these accounts because the features in student cards are more solicitous than ever. And while your college student is still home on vacation, you’ll have the time to sit down together to walk them through how to do everything online, rather than trying to go over it on the phone.

That said, there are a few very important habits your kids need to get, and get quickly, in order to protect their identities and their credit. So even if your kids already have accounts open, use this time to teach them four important security habits.

Good security habits in an electronic payment world:

1. Check your account online daily, whether it’s debit or credit. This is not just a good security habit, it doubles as a good fiscal habit. There is zero reason not to do it. It’s especially important to check debit card account activity because in some cases, if there‘s fraud–someone stole the card number at school and managed to use it–consumers must notify financial institutions promptly, in order to be fully refunded by the financial institution. With credit cards, there’s no time limit. Credit card purchases are always protected against fraud.

2. Teach your teen good storage habits for their card. Don’t leave them lying around. If they don’t have a wallet, encourage them to get one. Cards that are kept in a pile on their dresser, and stuffed into jeans pockets, get lost easier. Plus, good storage protects the magnetic stripe and creates good caretaking habits for all things monetary.

3. Do not lend a debit card. This may seem overly strict or paranoid, but say your teen and a friend are pulling into a gas station. One pumps the gas and the other runs inside for a soda. Teach your teen to be the one to go in, rather than handing a friend the debit card to use on their behalf. This is not to say the friend is untrustworthy. Again, it’s the notion of habit. Your teen should think, at all times, about security with debit and credit cards. Keep it in your own safe possession.

4. Encourage kids to use ATMs that are in a busy location, not ones that are isolated or unwatched by security cameras. That really goes for any kiosk, or even gas station, that accepts credit and debit cards. Have them wiggle the card reader (where your swipe) to make sure it’s not a scam one hitched on the top of the real one. It’s an easy habit to get into. There is unfortunately card data theft out there, and they should be careful. I try to use the ATM of my financial institution as well–which is also a great money saving idea because you pay no ATM fee–because your own financial institution will take better care of you if there is ever a fraud problem.

The sooner kids adopt these habits the better. There’s no question that debit and credit cards are a huge convenience, benefit, and can teach great money habits because you track all of your spending. Having them is also crucial to being monetarily function in our society. And so are good security habits. Try them out yourself, too!

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