The Most Important Money Lessons To Teach Your Teen

Teaching your teens about how to save and spend wisely is essential to raising a self-reliant, financially responsible adult. In this episode, we are discussing the most important money lessons to teach your teen to set them up for financial success.

Tune In

Leave a Review

J and I have been having some really interesting conversations about money lately, so we thought what better way to drive home some of these important money lessons than to talk to an expert. So we invited financial coach and president of Tailor-Made Budgets, Ericka Young and her teen daughter Olivia to the podcast talk about what we should be teaching our kids about money.

In this episode we discuss the most important money lessons to teach your teen including…

Letting kids manage their own money through work and reward
Why you should try setting up a “pop shop” as a reward system
Why we don’t believe in allowance
The danger of giving kids everything you didn’t have
Why it’s important for your kids to understand volunteerism and sharing resources with those in need
Why parents need to be a good financial example for their kids
What to do if you see signs that your kid is a spender and not a saver
How to teach kids the value of money
The best way to introduce your kids to investing and the stock market
Why we can’t just print more money
How credit works and why it’s important
How inflation works
Why investing in yourself is the most important investment you can make
Why it’s important to share your money mistakes with your kids

Normalize talking about everyday finances like monthly bills and budgeting. These conversations can help kids understand the type of expenses associated with maintaining a household and how money works in real life.

Be inspired,

Simone Jones Tyner

My name is Simone, and I'm addicted to sharing! On this blog, I share recipes, shopping tips, relationship and parenting advice, a joke, an opinion and just about everything in between. In between sharing, I run an integrated marketing agency where my love of details and straight lines are put to good use. But my most important job is being a wife and mother to a teenaged daughter who still seems to like me—for now anyway.