As your teenager travels through life, you may not always be close by to provide them the financial guidance you would like. You don’t have to wait until they have left for college to share your valuable financial experiences. In this post, The Tutoring Center in Whittier has some ideas on how you can teach your teenager to save money and learn the importance of spending wisely.
While providing your children with homework help
and math help
are great advantages, your financial experiences can be a great boost to their academic improvement
. They are likely to have questions, so it’s a great opportunity for them to learn from directly relatable examples.
Food for thought.
When your teenager is in control of their own finances, value spending is going to be a great skill for them to have; and one that you can teach them. If your teenager loves fast food and is always asking you for a new video game, or a new gadget, combine these into a financial lesson. Help them to understand the benefits of spending wisely by saving the money they would usually spend on fast food for one month so they can buy the video game themselves. Not only is this a great lesson in spending, but can also boost their appreciation for the things they buy as they forewent something to get them.
Being saved by sales.
Taking advantage of sales wisely may be a skill that comes naturally to you, but teaching this to your teenager can really help when they need to stretch their dollar at the supermarket. When preparing your next budget, share it with them and show them the benefits of any sales you are taking advantage of. Remember, not all sales work out in your favor if you aren’t taking advantage of them correctly, so guide them to pay attention to the sales conditions and consider whether it will be beneficial for them.
These are just some of the great money saving tips you can share with your teenager as they prepare to manage their own finances. To complement these useful skills, our experts can provide reading, writing, and math help through one-to-one instruction or private tutoring in Whittier. Call us today at 562-699-0218 for more information.