money talks

Babysitting, mowing the lawn, searching the couch cushions— for the first time, your teenager is beginning to realize the value of money. Teaching your child good financial habits now will benefit them well into the future. Here are some ways to help them hold onto their pennies.

Create a budget. The budget you create will be based on a fictional scenario of income and living expenses. Have them establish a weekly budget based on those factors. Eventually, they will learn to budget their own earnings.

Start saving. Take your child to the bank to open a savings account if they don’t already have one. If they do, encourage them to begin making their own routine deposits.

Lead by example. The best way to teach your child about saving money is to save money yourself. Curb some of your frivolous spending.