Raising Money-Savvy Teens: a Fast-Track Guide

money-savvy teens

What does it take to raise money-savvy teens? It helps to start with money-savvy tweens and before that, money-savvy toddlers, but those are hard to come by.

If you have teens and haven’t taught them about money, Intervene now! I promise that teaching them how to handle money today means they won’t be hounding you for it indefinitely as young adults. They will understand how to do things like not get buried under student loans and build their own wealth as adults.

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You don’t have to be a rich parent to teach your kids how to be financially savvy. You do have to be willing to stop to have the important conversations whenever you see opportunities pop up!

Important: Take the Long View

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Lesson 1: The Fast Track to Raising Non-Impulsive Spenders

The best money lesson you can give your kids is to show them that good things don’t come quickly! I can promise you that teaching your kids the art of delayed gratification will increase their life-long earning potential better than almost anything.

Lesson 2: Real Investments!

What if your kid doesn’t have even a penny saved? Get them saving some amount every week until they have the number you’ve agreed to ready and waiting for its Wall Street debut!

Extra Quick Tips for Raising Teens With Healthy Attitudes Toward Money:

1. Make it fun 2. Don’t turn this into something you argue over. 3. Lastly, don’t make this more complicated than it needs to be.

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Make this streamlined enough that you’re not spending more than a couple hours per month managing your kid’s “money education.” If you follow my rules, you won’t need to!

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