For Teens, Wealth Building Skills are Life Building Skills

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Consider the habits and attitudes Sean Covey, author of The 7 Habits of Highly Effective Teens, measures to determine the efficacy of his programs:

1. I feel in control of my life.
2. I care about the well-being of others.
3. I exercise my mind by reading, learning, etc.
4. People say I am a good listener.
5. I set goals regularly.
6. I am happy for my friends when they do well.
7. Other people have valuable ideas.
8. I begin each day by planning.
9. I keep my promises.
10. I prioritize my work and do the most important things first.
11. I communicate well.
12. I exercise regularly and eat healthy foods.
13. I am organized.
14. I enjoy working with others on projects.

(from The 7 Habits of Highly Effective Teen by Sean Covey, on the last page of the paperback edition)

All of these habits and attitudes are developed by teens that are learning to build their wealth.  (Exercising and eating well, let’s be honest, are not directly required for wealth building, but they sure can’t hurt!!)

Can you think of additional habits and attitudes that aren’t on this list?  Please share!

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.

Resource at Your Fingertips:   Check out this article from TheMint.org about teens and tracking your net worth.

Remember to Pledge to teach your teen to be an excellent money manager!  Vote “Yes. I will make the promise!” to 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.