Is it possible to teach your teen to budget? For some parents or guardians, the answer may be no. But, for others it is possible. If you have not spoiled your cute sweet little toddler into a mean selfish teenager, it is possible. Even if you have engaged in the “spoiled rotten” theory, you can still teach your teen to budget, but it will take considerably more work.
Here Are Three Tips to Teach Your Teen to Budget
START EARLY TO DEVELOP A STRONG CONNECTION
- The earlier you develop a strong emotional connection to your teen, the easier it will be to teach your teen to budget. Kids don’t need to be spoiled with things, to be happy. Things don’t make kids happy; but instead activities, hugs from parents, and talking to understand their concerns and helping them solve problems on a regular basis have proven to be major issues for happiness.
CHANGE THE WAY YOU THINK ABOUT THINGS
- For some strange reason, some parents think that if they give their teens all the material things they did not have, it will trigger massive happiness. If you had all of those “things” you would have seen that the lack of things was not the reason for your unhappiness when you are a teen. But instead, it is mostly the things that you cannot see that builds happiness.
TRY TO THINK LIKE A TEEN
- The only way you can find out how teens think, is to talk to many different teens. Teens want direction and clarification when it comes to making decisions. Teens also want to feel like they are important. What makes them feel important is first and foremost when parents appear that they care about them. The best way to make that clear is by telling them, you care about them and you love them. The second way is to guide them in what they do, and the third way is to make sure they are busy with activities where they make progress doing things they love like music, art or sports. The accomplishments make them feel important.
Once you create the strong connection to your teen, it will allow you to create a strong connection to teach your teen to budget, by connecting the reason why they should budget along with you now and in the future.
It starts with saving money and why, then onto saving money and purchasing with a budget, to buy that which is affordable. Then, the reason a budget is necessary now and for life.
Lois Center-Shabazz | Course Delta Agency
Personal Finance: Author, Blogger, Course Creator, Money Strategist
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