5 Finance Discussions to Have with Your Teens

Managing your finances right now may seem pretty easy and straightforward, but for a teenager who is just learning about money management, it’s likely to be a confusing world. So, when you talk to your teen about finances, don’t assume they already know how things work. Take time to explain credit cards, loans, how to write a check, interest rates, etc. Explain those things you understand and take for granted, and make sure your teen knows that asking you questions about those things isn’t stupid.

Make sure you teach your teen how to budget. There are tons of different ways to budget (and tons of different apps and programs you can use), so make sure you teen understands what budgeting is, and then let them decide how to do it. Explain the importance of spending less than you make and what are the important things they should pay for first.


 

It’s always good to sit down with your teen and have an honest and frank discussion with them about what they’re currently spending their money on. While they probably aren’t making big bucks at their high school job, teaching them how to manage small finances will help them manage bigger ones in the future. So, ask them what they spend their money on—toys, entertainment, savings, presents, what? If you feel like they could use some guidance, then offer it. But always let them know what they’re doing well, too.

If your teen isn’t in the habit of putting aside some of their income for savings, then this is a vital conversation to have. Everyone should be putting some money away (some experts say at least 10%), and that habit starts when you’re young. It’s best to teach your teen the importance of saving and then let them decide how best to go about it.


Along with how to save, you should also talk about what to save for. Every teen is different: some want to go to college after high school, others want to travel, and even some want to go straight into a job. If your teen has expensive plans ahead (like college), then make sure they’re putting enough money off to the side to pay for that in the future.

5 Finance Discussions to Have With Teens

10 Ways your Teens Can Earn Money

The classic way that lots of teens earn money is by babysitting. Plus, if your teen is already babysitting for a few families, they can ask for referrals from their friends to get even more jobs! It’s actually a pretty good way to make some money.

Lawn and yard maintenance is a job perfect for young teenagers. Not only does it teach them how to work, but your teens will also gain valuable skills they can use in the future. They can offer services from simple mowing to bush trimming and flowerbed maintenance.

If your child has a particularly artistic skill, then help them make money off it. Nowadays, there are tons of ways to set up online shops and sell homemade crafts and art projects. You’ll want to help with the budgeting and contacting, but selling products online is a great job for some teens.


Good writing is getting harder and harder to come by, so if your teen has a talent or passion for writing, then let them flourish! They can do anything from ghost writing to freelance or even enter essay contents.

There are also lots of survey sites out there that, if you allow it, your teen could subscribe to and make a bit of extra cash. It just involves them taking surveys online about tons of different things (it depends on the survey).

I know lots of people who are looking for good but cheap photographers. Whether it’s for family photos, real estate pictures, or something else, if your teen has an eye for pictures, then maybe they can do some photography.

The same goes for videography. Filming events like graduation and weddings is becoming more and more common, so it’s definitely a lucrative business. If your teen already has a camera and some editing equipment, then maybe it’s just the job for them.


Teenagers seem to have a natural skill with technology, so they might as well make some money off of it! I’m sure you know tons of people who struggle with technology, so put them in touch with your teen who can help fix a problem or teach them how to work a piece of technology.

Cleaning jobs are pretty common among the teens I know. In fact, when I was younger, my dad paid me to clean his offices. Not only will it teach good skills to your kids, but it also gives them some cash.

Depending on where you live, it’s possible that your teen can get a pretty good job as a waiter at some local restaurants. Help them look around and find a place you’re comfortable with them working at and that will give them the money they’re looking for.

10 Ways Your Teens Can Earn Money