Teenagers and young adults
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Teens and young adults generally start to earn money and make decisions on their own. Adult supervision, guidance, and feedback can help them navigate successfully.
Keep in mind that you’re teaching about money, on purpose or not
Your children are constantly watching and listening, so they might absorb more than you think. When you shop for a bargain, or splurge on a treat, or plan a special occasion, you’re showing your kids how you think about money.
Play to your strengths
Even if you don’t think of yourself as a money expert, you do have skills that you already use to navigate your financial life. Things you do naturally may be strengths you can share with your kids.
Are you:
- A pro at researching new information and making plans
- A math whiz who can calculate tricky problems on the spot
- A savvy shopper who can recognize a good deal when you see
Has your teenager set a goal, looked up missing facts, and followed through to reach it?
At this age, independent decision-making is a money milestone that you can watch for and help your child reach.
See more about the skills, habits, and attitudes your child is working on in the teen years
Money ideas to talk about and try out with your child
Earning
Say: You can earn money through an allowance or by doing jobs for the family or others.
Saving
Say: You can start a habit of putting money aside for things you want.
Planning
Say: You need to make choices about how to spend your money.
Shopping
Say: Try shopping around and comparing prices and features before you buy
Borrowing
Say: Taking out a loan means you pay back what you borrow, plus more—because of charges called interest.
Protecting
Say: You need to keep important personal information private.