Help your teens build a strong financial foundation with these 5 basic money thinking methods that will shape their financial future in the coming years!
As my own mom, I knew for myself how important it is to start planting seeds early, especially when it comes to money. The way our teens think about spending, savings and donations today will affect how they manage their financial situation in the years to come.
That’s why I’m so passionate about helping you raise smart financially capable children who feel confident and capable in terms of money!
5 ways to teach you teenagers’ thinking
These five powerful money thinking can completely change the trajectory of teenagers’ financial future! These are simple, practical principles that your teen can start applying now – no work required, just willing to think differently about money.
1. Everything you purchase exceeds money.
This is also a time to make money. Is the price tag worth it?
2. Life does less than you do than the gift you give to your future self.
Learn how to set up your budget as early as possible and then practice sticking to it before entering college. You will reach a huge step along the rest of society! Start early to think about how to spend money, rather than letting it slide through your fingers.
3. Compound interests are one of the biggest tools you need to use when you are young.
Your teenage years are one of the best times to reserve funds in a high yield savings account, and don’t touch it for over 10 years!
4. Learn to manage yourself already have the best money you can, rather than think there is more money manager in the future.
When you have a little bit, the way you manage your money will be the same as you manage it. Start now!
psst! Want to help your teen learn budget and manage their money? Check out my One hour of teenagers’ budget product!
5. Satisfaction and creativity are the two best assets for your financial success.
Get into the habit of never letting yourself impulsively buy it right away and find ways to use out of the box to reduce spending and save more, and you may save thousands of dollars in the next decade!
remember!
If you want to set long-term success for teenagers, don’t wait until they are “older” to talk about money. Start now. Encourage them to take small and consistent steps and remind them that wise currency habits have nothing to do with your money making, but about your management skills.
You don’t have to be a financial expert to raise funds for smart kids. Just keep showing up, have conversations and model yourself a healthy way of thinking. You have this – so is your teenager!
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