Remember that kids learn from watching parents — be aware of the messages you send and the examples you set. You should have a family budget, and include your teens in regular money meetings. Your meetings should be practical and informative. Be transparent.
– Teach your children how to use a checkbook: writing checks and keeping accurate records. Show them how online banking works, but don’t share your password!
– Taxes are a part of life. They’re not fun, but they’re here to stay. Explain that at their core, the idea of taxes is a great one. [Introduce ](http://www.huffingtonpost.com/neale-godfrey/talking-to-kids-about-taxes_b_2079954.html)your kids to the concept of taxes.
– Continue to teach the [difference ](http://www.huffingtonpost.com/neale-godfrey/kids-and-money_b_1956464.html)between *need* and *want*. It seems that our kids learn to say “I need it” before they learn their own name. A *Need*: Something without which your daily living would be impossible, or very, very difficult. A *Want*: Something that if you had, you’d be happier momentarily, but if you didn’t, you could live without.
– Talk to your older kids about investing and the [stock market](http://www.huffingtonpost.com/neale-godfrey/stock-market-basics_b_2669828.html). It is part of the big picture of money as a life skill — and it’s an empowering skill — a real adult activity that teenagers can take an interest in.
– Teaching the [time value of money](http://www.huffingtonpost.com/neale-godfrey/kids-and-money_b_3496759.html) is a must — explaining the real cost of purchases.
– I know you don’t want to think about it, but at some point you are going to have to face the subject of [teens and cars](http://www.huffingtonpost.com/neale-godfrey/teens-and-cars-can-drive-_b_2811681.html).
3 Comments
LouiseSchmidt
on August 6, 2017 at 12:33 pm
My teens are so different from each other. One never saves, the other won’t stop spending. This is good advice I need to put in place.
TerryPotter
on August 8, 2017 at 8:55 pm
Thanks. When I broke out my checkbook last month (I haven’t used it in a year), my daughter asked me “what is that?” I guess I’ve got work to do 🙂
NealeGodfrey
on August 8, 2017 at 9:23 pm
A mother’s work is never done 🙂 Isn’t that the truth? Thank you for being a part of our new community.
My teens are so different from each other. One never saves, the other won’t stop spending. This is good advice I need to put in place.
Thanks. When I broke out my checkbook last month (I haven’t used it in a year), my daughter asked me “what is that?” I guess I’ve got work to do 🙂
A mother’s work is never done 🙂 Isn’t that the truth? Thank you for being a part of our new community.