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Help your teen build a strong financial foundation with these 5 essential money mindsets that will shape their financial future for years to come!
As a mom of teens myself, I know firsthand how important it is to start planting seeds early — especially when it comes to money. The way our teens think about spending, saving, and giving today will shape how they manage their finances for years to come.
That’s why I’m so passionate about helping you raise financially savvy kids who feel confident and capable when it comes to money!
5 Money Mindsets To Teach Your Teen
These five powerful money mindsets can completely change the trajectory of your teen’s financial future! These are simple, practical principles your teen can start applying right now — no job required, just a willingness to think differently about money.
1. Everything you buy costs more than money.
It’s also the time investment to earn that money. Is the price tag worth the time you will need to work to buy it?
2. Living on less than you make is a gift you give to your future self.
Learn how to set up a budget as early as possible and then practice sticking with it before you enter college. You will have a huge leg up on the rest of society! Begin early to pre-decide how you’ll spend your money instead of letting it just slip through your fingers.
3. Compound interest is one of the greatest tools to tap into when you are young.
Your teen years are one of the best times to set aside money in a high-yield savings account and not touch it for 10+ years!
4. Learn to manage the money you already have as best as you possibly can instead of thinking you’ll be a better money manager when you have more in the future.
The way you manage your money when you have a little will be the same way you manage it if and when you have a lot. Start now!
Psst! Want to help your teen learn to budget and manage their money? Check out my One-Hour Budget for Teens product!
5. Contentment and creativity are two of the best assets for your financial success.
Develop the habit of never letting yourself impulse buy now and looking for outside-the-box ways to spend less and save more and you will likely save yourself thousands of dollars over the course of the next decade!
Remember!
If you want to set your teen up for long-term success, don’t wait until they’re “older” to talk about money. Start now. Encourage them to take small, consistent steps, and remind them that wise money habits aren’t about how much you make — they’re about how well you steward what you have.
You don’t have to be a financial expert to raise money-smart kids. Just keep showing up, having conversations, and modeling a healthy money mindset yourself. You’ve got this — and so does your teen!
Want to Raise a Money-Smart Teen?
Grab our FREE Financial Skills for Teens guide to set them up for future financial success!
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