How to Raise Your Teen with Great Money Habits and Attitudes in 2012

Share this post:

Let’s start with the end goal in mind:  You want your teen to grow into an adult who encompasses the habits and attitudes that will allow them to be financially competent and confident.  Yes?

But the reality of daily life, our own limitations with money skills, and that goal often lead us to give up before we start.

What if I told you that IT’S NOT THAT HARD!  Or time-consuming!  Nor does it require you to have great money skills yourself…Really!

Here’s a really great starting point:  The Talk.

Start by talking to your teen about how prepared they feel about managing their own money when they are adults.

Are they already in PROCRASTINATION MODE?              Do they plan to “take care of it later”…or “learn about it later”…or “worry about it later”?

Or, and this is worse—are they misguidedly filled with ideas like “I am already set with that”…or “I already know enough about that”…or “I make good grades, and I saved for a car (or whatever), so I am good to go.”

Or, do they think “money is too hard for me.”  Or “money has something to do with materialistic values or greed.”

You’ll know where to go from there.  For one thing, you’ll see that their attitudes about money also show up in other areas of their life.  You could talk to them about that.

See, wealth building is all about spending, saving, giving, and investing so your money grows, according to a goal-centered plan.  The first thing to deal with is our underlying attitudes.  If we think it’ll be okay to wait, then we are already WAY off track.  Wealth builders see the value of starting NOW.  Similarly, if we think we already know enough, then we are also off track.  Wealth builders are lifelong learners about money.  Wealth builders are interested in asking questions and talking about money; they honor the expertise and wisdom of others.

Everything, all change, all that we make happen…it ALL starts with conversation.  Talk, talk, talk.

Pledge to be a parent who knows the value of teaching your teens to think about their money so it works for them, funds the life of their dreams, and allows them to make a difference in the world.

Let people know that we, as a community of parents and leaders, are ready to make this important!

© WealthQuest for Teens, Ltd., 2012 All rights reserved worldwide.