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Teaching Financial Wellness to Teens

Reducing summer stress…


teen girls sitting in the grass with hands linked

I'm giving my 12-year-old a cash spending budget for clothes and fun this summer.


Benefits:

  • It ends arguments because it shifts the decision making to her

  • Gives her a sense of freedom

  • Gives her accountability

  • Starts her on her way to lifelong financial wellness

  • Lets her interact with the cashiers and do math on the fly


Here’s how it works:

  1. I have an annual budget for her clothes and fun

  2. I split it in three Jan-April, May-Aug, Sept-Oct

  3. I give her a list of things she normally buys

  4. I help her spread her cash across her list for a general budget

  5. I hold back the cash for necessities 

  6. Give her a bit of cash at a time 


It’s not perfect but it cut down on petty arguments and has given her some agency in her life—that’s a win/win for me.


“Children have never been very good at listening to their elders, but they have never failed to imitate them.”

– JAMES BALDWIN, American writer and civil rights activist


As always have any questions, send us an email at support@afirefi.com we'll be happy to help you along your financial journey!

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