√ Practice: Does your teen employ a system of money management that has their money lined up with their current needs, wants, future goals, and commitment to the greater good of humanity?
√ Talk: Does your teen talk about money with people who can teach them about it? Do you talk about money at the dinner table and in the car?
√ Learn: Does your teen engage in lots of experiences where they get to explore money—reading books, watching DVDs, doing online video programs, surfing the web?
√ Give: Does your teen give 10% of all of their earnings and gifts to a cause that matters to them?
Reader challenge: Can you check off each item on this list? If not, try tackling a new item each week!
Easy Action: Begin a money journal with your teen. Teach your teen to figure out his or her current net worth. Then, set a goal for updating this document routinely (Weekly? Monthly? What works for you?) and create a reminder system.
Remember to Pledge to teach your teen to be an excellent money manager! Let the world know that parents are doing their part to build a financially literate society!
© Your Teen’s Money Skills, Inc., 2012 All rights reserved worldwide.
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.
Please vote on the Parent’s Promise poll that you will prepare your teen for adulthood with effective money habits and attitudes. Our goal is to collect 500,000 votes to show the world that conscientious parents are making this life skill a priority at home.
© Your Teen’s Money Skills, Inc., 2012. All rights reserved worldwide.