Hey parents

Does your teen run away when you try to teach them about managing their money?

Budget and cash
Empty space, drag to resize
If you’re like most parents, you want your kids to become financially independent before they turn 40.

Many teens may not show immediate interest in learning about financial management, often because they don't yet see its relevance or importance in their lives.

Here are some strategies and resources that can help with that.

Note: Some links on this website are affiliate links to products that I may earn a commission on if you buy through my link (at no extra cost to you).

Strategies and Resources

Empty space, drag to resize

 Make it relevant

Connect financial lessons to your teen's current interests and goals. For example, if they're saving for a car, or even thinking they'd like to have one, use that as a basis to teach about saving and budgeting.

You might start with, "Let's look at some cars online and see how much you'll need to save."

If your teen then feels daunted by the cost, help them figure out how much they need to set aside each month and maybe discuss ways to earn more to afford it quicker.

 Involve them in real-life scenarios

Involve your teen in real-life financial decisions, such as grocery shopping on a budget or planning a family outing, to make the lessons more tangible.

Sometimes when you gift responsibility to your teens, it gives them a sense of pride that you trust them and will make them want to do a good job. (The same rule applies for dogs, funnily enough!)

 Incorporate technology

Use apps and online tools that appeal to tech-savvy teens. This can make learning about finance more engaging.

Check these out:

 Peak their curiosity

Leave books about finance around where your teen will see them. The bathroom is a great spot. I found a fantastic one to start with.

Money Mindset for Teens and Young Adults: Practical Lessons and Activities to Attract Wealth, Master Budgeting, Understand Student Debt, and Start Building a Stress-Free Financial Future in 31 Days

 Gamify learning

Turn financial education into a game. This could involve challenges, rewards, and competitions around saving or budgeting.

 Offer incentives

Create a reward system for when they achieve financial goals, like saving a certain amount of money or sticking to their budget.

 Encourage earning

Motivate your teen to earn their own money through part-time jobs, chores, or entrepreneurial ventures, which naturally leads to lessons in managing it.

 Lead by example

Demonstrate good financial habits yourself. Share your budgeting practices, savings goals, and how you make financial decisions.

Don't hide your finances from your kids. Don't scare them! But it's good for them to have a realistic idea of what your family can, and can't, afford.

Often, your teen will pay attention when it comes to family finances because it affects them.
Accountant career path cover

Career path: Accountant

Bank teller career path cover

Career path: Bank Teller