Putting It Into Practice: Ages 16+
Encourage your teen to get a casual job – this will allow them to try out everything you’ve been teaching them. Let them pay for one or two bills of their own, like their phone plan; this responsibility will inspire them to save for ‘rainy days’, and help them to realise they can’t always have everything they want right now.
If you like, you could explain ‘Buy now, Pay later’ schemes like AfterPay and ZipPay. Talk about the positives and negatives and encourage them to spend within their means, to avoid going into debt unnecessarily.
This is a perfect time to introduce some budgeting basics to your teen with Don’t Bust Your Budget game. Using a free, cute printable board and more jellybeans, illustrate real-life financial scenarios followed by a discussion session at the end of each of the four rounds of play.