How Do I Teach My Teenager About Money?

One of the most important jobs we have as parents is to teach our children how to navigate the adult world. An important skill they’ll need to master is managing their money.

Starting while they’re young is a good plan but if you’ve missed that boat it’s not too late.

So how can we successfully teach our kids to manage money when they’re teenagers, still living at home, and dependent upon us for most of their monetary needs?

Some school districts, realizing the importance of educating young people about money, have begun offering personal finance classes in high school.

North Carolina recently became the twentieth state to require high schoolers to complete a course in economics and personal finance to graduate. Topics taught to teens include paying for college, using credit cards, and taking out a home mortgage.

Even if your state doesn’t require such a course in high school, however, there are ways you can teach your teenager how to manage their finances.

Teaching Your Teen About Money

Here are six essential money topics and tools to discuss and use with your teen to boost their financial literacy.

Budgeting