Money management is a critical life skill that we no longer can afford the luxury of ignoring. Nor can we afford the luxury of expecting someone else to take care of it for us.
We talk a lot about the commitment it takes to raise a financially fit teen and we acknowledge the extraordinary parents who value this education. Raising an entire generation that is able to meet the financial realities of adulthood with confidence and competence starts with a promise—a promise from an entire generation of parents. Money habits and attitudes are formed at an early age, and children learn them from their parents. With all of the attention on bringing financial literacy to school curricula and community organizations that serve teens, what’s been missing is a focus on the role of the parent.
The first step for a parent is to make a promise. Once a promise is made, ways to fulfill that promise become meaningful and relevant.
Pledge to be among the extraordinary parents who promise to raise their teens with great money habits and attitudes. Make the promise with this poll. The goal is to collect 500,000 votes to show the world that conscientious parents are making this life skill a priority at home.
The pledge is meant to not only start the conversation, but build a community of parents and leaders who are working together, sharing information, and changing the way they think about their teen’s financial skills.
Easy Action: Talk to your teen about setting a specific financial life goal. For example, “By X (age) I will have X (net worth) so I can _________ (benefit that is meaningful to your teen).” Like all areas of life, we first set meaningful goals, then our journey becomes the discovery of how to achieve our goals.
Resource at Your Fingertips: Check out Moneytrail.net, a free, online money management tool.
What is your teen’s financial goal? Tell us in the comments!
Jill Suskind, M.Ed. is a 25-year veteran public school teacher. Since 2007, she has been working with parents and their teens, providing innovative, practical, and effective resources and guidance for preparing teens for adulthood with positive money habits and attitudes. Jill owns and operatesWealthQuest for Teens, Ltd., and Your Teen’s Money Skills, Inc, and currently serves as a member of the Financial Literacy Committee of the National Association of Estate Planners Council.
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