Top 5 mistakes parents are making with teens and money: Mistake number one

Money is a topic that makes most people cringe. Especially in the present economic climate, it’s generally not a fun conversation to have. I’d like to change that. Some tell me that my mission of teaching financial literacy to teens is similar to turning the Titanic…it’s going to take a long, long time and require a lot of effort.
Fine, we better get moving now then!

Although I prefer to discuss what we as parents are doing correctly, I’ve been asked several times from various people, to talk about what we are doing wrong. Let me start by saying, don’t beat yourself up if you find some of the following issues ring true for you. We are all doing the best we can, so take the information, make the changes that apply and move forward.

Number one mistake: parents aren’t talking! We talk about school, friends, drugs, smoking, sports and more, but never about money. Without question, everything I mentioned above is critical, it’s just not enough. Start the conversation about money over dinner, while driving or when shopping at the grocery store. It doesn’t need to be some heavy, boring talk, which would tune your kids out anyways. The intention is to bring an awareness of spending habits, saving habits, credit card pitfalls, and more, to your child’s radar.

Keep it simple, keep it short. Talk often, listen more.

Stay tuned for next week when I discuss mistake number two!

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