Believe it or not, teens are interested in money. Of course, they are interested in spending money, but many are interested learning about budgeting, managing and making money. Teens view learning about money as a symbol of independence and maturity. They view these vital discusses and lessons as the first steps to becoming responsible adults.
Over the past several years of teaching teens about the power of money, here are 10 tips to talking with your teen about money. Use these tips to help your teen to become a money smart teen.
#1: Don't talk down to your teen. The most important rule of thumb when introducing your teen to money is not to talk down to them. Treat them with respect and don't get frustrated when they don't fully understand what you are teaching them.
#2: Encourage your teen to ask questions. Encourage your teen ask questions and most importantly listen to the question. Teens offer a very unique insight to money and ask very insightful questions.
#3: Keep the tone of the conversation positive and light. When talking to your teen about money don't try to explain everything in one sitting. Also, don't get into the nitty-gritty. For example you wouldn't ask your teen to read all of the fine print on the back of mortgage application if wanted to teach them about mortgages. There is a time and place for everything.
#4: Bring up the subject of money while driving or walking together. One of the best ways to talk about any subject is while you are doing something else. For example, the next time you are driving with your teen to school, ask them about budgeting. Many teens will open up and talk more while walking or enjoy a bike, rather than sitting at the kitchen table.
#5: Let your teen know they can always turn to you for financial advice and guidance. Make sure your teen understands they can ask always talk to your about money. Encourage them to come to you with problems, questions, guidance, etc. about money.
#6: Don't judge your teen. Don't bring up past arguments, disagreements, mistakes or anything while you are in the learning environment. Your teen will quickly lose the willingness to learn if your dig up the dirt from the past. Forget them completely.
#7: Get your teen involved with the household budget. By this, I don't mean you should discuss every aspect of your finances with your teen, but you can allow them to work with you in a few areas. Here are few suggestions for you: help plan the family vacation, ask for their input regarding major family purchases (new car, new house, etc.), have them help with grocery shopping and ask them to compare prices with you.
Use these seven tips to introduce your teen to money and the power of money. By following these tips, you will be helping your teen to become a money smart teen.
Article Source:
https://EzineArticles.com/expert/Andy_LaPointe/278174
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