![\"How](\"https:\/\/image.marriage.com\/advice\/wp-content\/uploads\/2019\/01\/Talking-to-Your-Teenager-Kids-About-Sex1.jpg\" "\\"How")
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Finance isn’t taught in schools. The responsibility falls on the parents.<\/span><\/p>\n There may be a few classes that teach basic budgeting, but it doesn’t go beyond that. That explains why teens are running into financial problems immediately upon leaving home. A<\/span> recent study<\/span><\/a> showed that the debt problem among teens just graduating from high school is getting worse, labeling it a “ticking time bomb.”<\/span><\/p>\n Nobody knows the real reason why kids are sent out into the world with sufficient knowledge of calculus, yet little to no knowledge of basic money habits. Don’t worry! You can do something about this. <\/span><\/p>\n You can teach your kids what they need to know before leaving home to start college or their career.<\/span><\/p>\n Your teen will likely want to have this talk, especially if you frame it in their favor. This is stuff they need to know to do well financially. Everyone wants to do well financially. When you talk about money, teens listen.<\/span><\/p>\n Start with the basic understanding of checking accounts and savings accounts. Then move on to the more complex topics like investing for retirement.<\/span><\/i><\/p><\/blockquote>\n Here are some points to cover:<\/b><\/p>\n This would be the time to add the importance of giving. Whether you’re religious or not, giving is a healthy part of any financial plan.<\/span><\/p>\n Some financial gurus, such as <\/span>Dave Ramsey<\/span>, teach the importance of living frugally and tracking every expense. Others, such as <\/span>Ramit Sethi<\/span>, teach the importance of saving on big purchases and not worrying about the small ones. Regardless, your teens must understand that they need to be wise with their money.<\/span><\/p>\n Here are some points to cover:<\/b><\/p>\n Smart spending is a habit that’s developed over a lifetime. It’s not about being cheap; it’s about being smart. Things like budgeting your money and planned shopping will stretch your teen’s money much farther.<\/span><\/p>\n US consumers carry an average credit card balance of around $15,000 per household, according to a<\/span> study by Nerd Wallet<\/span><\/a>. <\/span><\/p>\n<\/span>Cover the basics<\/span><\/h2>\n
<\/span>Teach your teen to spend wisely<\/span><\/h2>\n
<\/span>Explore the dangers of debt<\/span><\/h2>\n
![\"Explore](\"https:\/\/image.marriage.com\/advice\/wp-content\/uploads\/2018\/10\/High-levels-of-unsafe-debt-may-create-stress-or-anxiety-for-parents.jpg\" "\\"Explore")
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