Money Conversations with Teenagers
December 4, 2015 : Kristin Shaw
Talking to children – especially teenagers – about good money habits is important to setting their financial foundation.
However, when we asked teens and parents whether they had those conversations, the responses were mostly “no,” “occasionally” and “not enough.”
Where do you fall on the spectrum?
So what kind of topics should you talk about with your kids? Allowance is a great place to start. It’s a first foray into earning money for younger kids. However, as your child gets older, you may question whether the allowance is still necessary. This helpful infographic will help guide you to an answer.
Finally, it’s always good to help troubleshoot problems as soon as they arise. If your child winds up in debt soon after opening a credit card, there are several steps you can take to help them correct course. This post on our H&R Block Dollars and Sense blog outlines three easy steps to help your teen save money and address debt.
Want more information about teaching financial topics at home? Check out Dollars and Sense for more resources.
If you’d love to see financial literacy taught in your kid’s high school class, pass along H&R Block’s Budget Challenge to their teachers. Registration is open now, and we’re giving away $20,000 scholarships and $5,000 classroom grants to winners!