Most high schools in the US don’t teach basic personal finance skills to students. That leaves parents to teach children about money management. Luckily, going over skills related to managing money with your teen doesn’t have to be difficult.
MANAGING MONEY WITH YOUR TEEN: WHAT THEY NEED TO KNOW ABOUT INCOME
It’s hard to teach your teen techniques for managing money when they don’t have any money to manage. A great way to help ensure the points above hit home is to have them start making some of these hard choices now.
MANAGING MONEY WITH A PART-TIME JOB
Most teens who are getting close to college age are likely old enough to hold a part-time job in their state. This can be an excellent way for them to learn about a variety of skills related to managing money including budgeting.
MANAGING MONEY WITH AN ALLOWANCE
Some parents prefer their teens concentrate on school work instead of a part-time job, and that’s okay! However, if you want your child to learn about managing money, you’ll need to find a method for them to acquire some cash.
(...And Avoid Student Loan Debt)