The “skin in the game” talk – Having some real money in the stock market will lead to actual interest on how the market works.
Bring charity into the conversation – Set aside a portion of your charitable givings and allow your teens to select the charitable organization. This a great way to have your teens do some research on local charities and learn about all of the good that they do.
Take the “KISS” approach – Keep It Simple Stupid! Finace can be a difficult, and to some boring subject to understand. It is important to make finance fun, relative to your teens, and in terms that they will understand.
Keep it positive – Talking to your teens about money is a chance to set an impression that can last a lifetime. Start by discussing the positives of wealth management and creation. Once you spark their interest you can talk about the risks associated with their decisions and choices involved with accumulating wealth.
Take advantage of “alone time” – Time in the car, out to eat, or standing in line at your over crowded local Times grocery store. These are great one on one times for some quality financial conversations. For more information on the topic refer to this Great Article
For additional information and statistics on our current plan for personal finance in our school system take a look at our webpage Time For Change.