Category: Parenting

Posted in Discipline in kids, Financial freedom, Kids, money management, Parenting, teaching teens

Five steps to help teach children the value of money

Posted on by Tim Connolly

Although schools are now required to teach children financial literacy as part of the National Curriculum, this only takes place after the age of 11. By this stage children may have already picked up good and bad habits from their parents.

The way children view money will often carry through into adulthood, so it’s important to give kids a good financial grounding from a young age.

Here are five ways to help your kids with their finances in childhood and early adulthood.

Give your child a piggy bank

A great way to start financial education for kids is by giving them a piggy bank, allowing them to start saving for themselves. At first this will probably be small amounts of pocket money, but in time this could teach them how to save money towards something they really want.

If they would like to buy a new toy, make them slowly save up over a number of weeks to instil financial discipline from an early age.

Teach children basic maths early

Even before they start nursery or school, you can give your children a boost by showing them basic maths. By teaching your children some simple maths skills, such as addition and subtraction, you can give them an understanding of the subject before they start school.

You don’t have to be a mathematical whizz yourself, resources are available for free online for parents to help teach their children the basics.

Open a bank or savings account

Some banks and building societies will let children open an account from the age of seven. This can be a good way to show how saving in a bank can help your money grow, and teach children how interest accumulates.

Some accounts also offer debit cards or cash cards when your kids get a little older, meaning you can show your children that spending on plastic costs the same amount as in cash. Giving them this responsibility can be a good learning curve.

As they enter their teenage years and take on a paper round or other part time job, you could encourage your children to investigate savings accounts of their own.

You may have already opened a Junior ISA for them. If so, when your child turns 16 they’re legally allowed to take over the management of the account. They still can’t access the money until they’re 18 years old. But getting them to engage with their savings could be a good way to teach them about money management, interest and investments – depending on whether it’s a cash account or stocks and shares.

Make them consider their financial goals

While a young child is probably more concerned about buying their favourite toys, as your children get older it is wise to get them thinking about bigger financial goals, such as buying a first car or holiday.

There are also a variety of apps to help with everything from money management, to saving as you spend.

Give them a helping hand towards independence

As your children enter adulthood, they will start to think about leaving the family home. Whether that is in rented accommodation, university or buying for themselves, make them consider the costs of living alone.

As well as rent or mortgage payments, there are:

  • Household bills
  • TV license fee
  • Council tax
  • Car tax

Teach children and teenagers the basics to help them understand the true cost of independent life. You might decide to charge your young adult children rent, or ask they contribute to household bills.

Many young people also rely on parents to help fund the cost of a house deposit. While some parents are able to provide financial support, many cannot offer large gifts to their children. Parents who wish to give their children a financial boost should consider saving on their behalf from a young age.

Even a small amount, such as £20 a month can quickly add up, building a nest egg to pass on to your children in later life.

Posted in Discipline in kids, Financial freedom, money management, Parenting, teaching teens

Use these 6 tips to teach your kids lifelong money lessons during the pandemic

Posted on by Tim Connolly

It’s a sticky subject in the best of times. These days, it’s downright scary, as the pandemic rages and the economy tanks. 

Many parents are generally reluctant to talk about how to teach kids about money, says Thomas Henske, a certified financial planner and partner at Lenox Advisors in New York. However, now is an especially good time to teach your kids some basic financial info and allay their fears. 

Experts say it’s easier than you think to teach your kids about money, whether you start chatting with them about it or turn to some engaging books. 

Questions from kids like, “How much money do we have?” or “Are we rich?” could make some people uncomfortable, but they are great conversation starters, Henske says. And they don’t have to be directly answered if you don’t want to.

More from Invest in You:
Not a saver? Learn these skills and end your year with a nice stash
‘I wasted so much money…’ Millennials want Gen Z to learn from their mistakes
If you need cash, try these less-obvious sources

Try answering with questions of your own, such as “What do you mean by rich?” or “How much money do we need?” 

Henske didn’t feel ready to reveal his net worth when his children asked about it, so he turned the exchange into a conversation about what they thought the figure was — “They gave horrendous answers,” he said — along with the value of their house and their mortgage.

Here are six dos and don’ts to help your kids, no matter their age, learn about money. 

1. Talk about it

Not discussing money is like not discussing sex, Henske says. Just as most parents have some kind of conversation about intimacy so their kids go out into the world prepared, he recommends talking about money openly, too.

“We still treat personal finance and money as a kind of taboo,” said Liz Gendreau, 40, who blogs about family finance on her website, Chief Mom Officer. Gendreau has three sons, ages 16, 12 and 5.

By the time kids are in their teens, parents can talk about college costs or buying a car.

“They benefit from learning how to budget,” said Gendreau, who lives in Hartford County, Connecticut. “The more you can educate your kids through real-life examples, even things you wish you’d done differently, the better.”

2. ‘No’ is an option

“Parents sometimes sacrifice too much for their kids,” Gendreau said.

It’s a mistake to give kids everything, especially if it comes at the cost of saving for a parent’s own retirement, says Gendreau. Whether it’s expensive college tuition or a lot of after-school activities, parents should balance their own financial needs with those of their kids.

“It may not be something they want to hear, but you have to make choices with your money,” Gendreau said.

People commonly confuse loving with giving. The amount of time you spend with someone is more meaningful. “That is finite, and it’s the ultimate currency,” Henske said. 

A pandemic bonus: Canceled programs and plans give you an opportunity to show your kids what together time really means. 

3. Teach the basics

What’s credit, what’s debt and what’s the difference?

“It’s really important to sit down with your kids if they’re still young or even have a conversation with a young adult, and really teach them about the dangers of using credit cards,” said Brad Klontz, author of “Mind Over Money” and co-founder of the Financial Psychology Institute.

People don’t understand how credit works — “You’re actually taking a loan from a bank at a very high interest rate,” Klontz said — or how misuse can spark financial disaster. In fact, three out of five Americans say their credit has been harmed by the pandemic, and about three-quarters worry about paying their bills and making good on loans. 

Debit cards work on money that is yours. When you use the card, you’re subtracting money from your own account.

Kids who don’t understand how credit works can face financial disaster when they first sign up for a card, which may be in college, Henske says.

4. Make them wait

Young kids need to learn the difference between a need and a want.

Teach them strategies and have discussions around how much they want something to avoid tantrums when you say no to a purchase.

When Henske’s kids were small, he used to have them put things on a list, a strategy he recommends starting at age 5 or 6.

Older kids can write down what they want in a notebook. Younger kids can, with your help, print out a picture online of the desired object.

Two days later, they may find they no longer want it, Henske says.

5. Include them in big purchases

Kids should be part of the conversation when a family buys a car or plans a vacation, Henske says. Otherwise, that’s a lost opportunity to teach them the value of a dollar, since they rarely understand how much big things cost.

The experience will come in handy when they need to make informed decisions about choosing a college or thinking about careers. “They don’t understand the income and lifestyle that a specific income affords you,” Henske said.

Don’t forget another facet of buying: arguing for refunds. 

The pandemic has created a chance to let kids see how you negotiate for a refund on plane tickets for a canceled trip. 

6. Don’t pay for everything

Always let kids contribute something financially.

High school students might pay for their car insurance. A teenager who wants an expensive iPhone might pay for the data service portion of the bill. “It doesn’t have to be an unworkable amount,” Henske said.

Posted in Discipline in kids, Financial freedom, Kids, money management, Parenting, teaching teens

Six Ways To Teach Your Kids About Saving Money

Posted on by Tim Connolly

Saving money is one of the most important aspects of building wealth and having a secure financial foundation.  Yet many of us have learned the importance of saving money through trial and error, and more importantly, experience.

In school, we aren’t really taught about the importance of saving and many of us find that as adults, we have to fend for ourselves although money management for children is such an important point to be discussed.

But there are ways to empower the next generation, and that starts by teaching children the importance of saving from a young age.  If you are a parent, here are 6 ways to teach your children about saving money.

START WITH A PIGGY BANK

A piggy bank can be a great way to teach your kids the importance of saving, while giving them an easy way to do it.  Tell your kids that the goal is to fill up the piggy bank with dollars and coins, until there is no room.  Illustrate that the piggy bank is for saving money for the future and that the more they save, the more their money will grow.  Here is how Kevin O’Leary of Shark Tank used a piggy bank to explain compound interest to his own kids.

OPEN UP A BANK ACCOUNT

Once the piggy bank is full, take your child to the bank to open up a savings account for them.  Have them count how much money is going to be deposited, so they can have a physical understanding of how much money they have.  Show them the final number and reinforce the idea of interest.

It can provide a great source of motivation for your kids if they understand that their money will grow over time as long as they don’t touch it.

USE SAVINGS JARS

When your kids really want the latest and greatest toy or a new action figure, let them know they will have to save up for it.  Give them a jar for each of their desired purchases and offer them a small allowance each week in a denomination that encourages savings.

For example, if you give your child five dollars a week, give it to them in one dollar bills.  They can save all their cash for one purchase, or they can contribute to different “jars” for various savings goals.

To encourage saving up for their short-term goals, put a picture of their desired toy or item on the jar, so they have a visual reminder of what they are working towards.

CREATE A TIMELINE

As a kid, the concepts of money and time can be hard to grasp. Research has shown that the impact of a one hour financial lesson wears off after about five months. In order to make the message stick, money education should be timely and ongoing.  If you know your child receives a $50 check for their birthday each year, the moment to talk about budgeting is right before receiving that check.

One way to keep money lessons ongoing is to create a timeline so that your child can visualize when they will reach their goal.

Let’s say you give them five dollars a week and they want to save up fifty dollars.  If they saved one hundred percent of their allowance, they’d reach their goal in ten weeks, or roughly three months.

Start by getting a long piece of paper and a marker.  Have $0 on one side and $50 (or whatever goal amount) on the other side.  Create checkpoints on the paper for when they reach 25%, 50% and 75% of their goal.

Every time an amount is saved, draw a line illustrating how much was saved.  Let your kids know that they will get small rewards at each checkpoint. Small rewards can encourage kids to keep going.  Visuals are also helpful in illustrating their savings goals and how their money is growing.

LEAD BY EXAMPLE

Children learn by example, so the best way to teach your child about saving money is to save money yourself.  Have your own jar of money that you put funds in regularly.  When you’re out shopping, show your children how to discern between various prices and explain why buying one item makes better sense than another.

Reiterate the message that every time you get paid, you save a portion of your check to help prepare for the future.

Teach your kids about why and how you are saving for their college education.  If you do not yet have a college savings account, take a moment to understand Our Five Steps to an A+ College Plan.

START A CONVERSATION

One of the most important things you can do is to start a conversation about money and the importance of saving. Money doesn’t have to be scary or a taboo.  Use financial discussions as teachable moments. An innocent question such as “Are we rich?” can be answered in a way that emphasizes family values, such as hard work and responsible spending.

Let your children know they can have an allowance, but it’s up to them to save up for things they really want.  In addition, illustrate how much their money can grow over time if they save.

Also discuss the difference between needs and wants and tell your children you are always open to talking about money and new ways to save.  Ask them about what they want to save up for.  Ask them what they want their future to look like.

Asking good questions can get them to think long-term and have a positive relationship with money.  Letting them know you’re always open to have a conversation about money can encourage them to ask questions of their own to keep learning.  The graphic below from the JumpStart Coalition for Personal Financial Literacy can provide you with learning benchmarks based on your child’s age.

Teaching kids how to save money may seem like a tough task.  It has even been said that parents are more likely to talk to their children about sex than about money.  But using these tips, you can make your child’s understanding of money fun and accessible.  It’s an investment in knowledge which truly pays the best interest.

Posted in Discipline in kids, Financial freedom, money management, Parenting, teaching teens

How to Teach Your Kids About Money So They Become Financially Responsible Adults

Posted on by Tim Connolly

How early is too early to familiarize your kids with core money concepts like earning, spending, saving, debt, credit, and investing and focus on financial education for kids? Money can seem like an inappropriate or simply overwhelming topic to bring up to your kids, but it doesn’t need to be—in fact, it absolutely shouldn’t be.

“Would you ever let your child climb behind the wheel of a car and drive away without instruction, practice, or tips on how the car works? Of course not, because doing so could have a devastating outcome,” says Gregg Murset, a certified financial planner and the founder of chore and personal finance app BusyKid. “The result of a child growing up without a clue of how to earn or manage money can be just as problematic to the entire family.”

The earlier kids are introduced to the basic life skills of money management, the more comfortable and self-sufficient they’ll be out in the real world as adults (which might be crazy to think about if you have really young kids, but it’ll happen one way or another).

From the basics to the complex, here’s how to start instilling important financial skills in your kids in a way that sticks with them for life.

Know That There’s No “Right” Time to Broach the Subject

“All kids learn differently, so there probably isn’t one right way to tackle the topic of money,” Murset says. “However, it’s critical to address it.

A recent study showed that people who learned about money as a child were three times more likely to have a personal annual income of $75k or higher than those who didn’t. Now if that doesn’t motivate you as a parent to sit your kids down, nothing will.”

Should you try to lecture your 6-year-old about taxes or compound interest? Probably not. But should you talk about many times they’ll need to help take out the trash and mow the lawn before they can afford that new bike? Absolutely.

Don’t Make Money an Off-Limits Topic

If and when it comes up, it’s OK to be transparent about money and how much day-to-day things cost, like groceries, clothes, and household upkeep. “For example, parents should share more about household expenses so their kids can already be making mental notes on what it costs to leave lights on or waste food,” Murset says.

You don’t want to burden your kids, make them feel responsible, or start them worrying about money—but giving them a real-world sense will help them grasp bigger concepts about smart spending, wants vs. needs, and not taking possessions for granted.

Posted in Discipline in kids, Financial freedom, money management, Parenting, teaching teens

Why it’s important to teach kids about money from a young age

Posted on by Tim Connolly

Why is it important to teach kids about money from a young age?

Teaching kids about money is really very important as the more earlier a child learns about money, savings and investment, the better money managers they will become. Such skills help children to understand the difference between earning, spending and saving, making them better money managers who’re able to budget. It also helps children understand the value of money at an early age and help them make better financial decisions.

How does your upbringing and ‘money conversations’ from childhood affect you as an adult?

Money conversations from childhood help people grow into adults that have a healthy relationship with money. Research shows that money habits as well such as getting an allowance, helping the caregivers in the home budget for household items also teaches the principle of efficiently allocating scarce resources. These all contribute to increasing the growing child’s financial sophistication, thus giving them a better financial outcome later in life. 

Why are initiatives such as ‘Mmmm Yum Kidz Tuckshop’ important?

With the high unemployment of the youth and lack of entrepreneurial and financial literacy in our schools, it’s important to have such initiatives to make sure that we teach the children skills at a young age. When they grow up they’ll be able to create employment for themselves and make sound financial decisions.

What are you hoping to achieve with the campaign?

We hope our involvement in this initiative will teach the participants business principles usually reserved for an MBA program, introduce them to real-life entrepreneurship and money management tensions, and give them push to start their own business. Ultimately, we want to positively contribute to the learners’ financial outlook. 

Is the spirit of entrepreneurship at this age important?

Learning about the spirit of entrepreneurship at a young age will allow children to learn all types of concepts focused on starting and operating a company. This can help prepare them for the real world where they’ll have to think on their own and come up with solutions to all types of problems. Employers look for candidates who’re entrepreneurial, think outside the box and can work on their own with minimal supervision.

Posted in Discipline in kids, Financial freedom, money management, Parenting, teaching teens

Free and Low Cost Business Ideas for Teens

Posted on by Tim Connolly

Teens are less likely than ever to get an after-school job. In fact, a 2019 report by the Pew Research Center found that only 35% of teens get summer jobs (and even fewer get jobs during the school year).

That’s not to say today’s teens are lazier than ever. There can be lots of challenges that complicate traditional employment for teens.

Lack of transportation, being too young to get a job, or lack of job opportunities are just a few of the reasons some teens struggle to find work. But, if your teen still wants to earn money, starting a business may be an option.

Surveys show the vast majority of young people want to own a business someday. Thanks to TV shows like the Shark Tank, becoming an entrepreneur has become a big dream for many teenagers and young adults. 

The good news is, your teen can start a small business at any age. And there are many small businesses that cost very little to launch. 

Here are a few businesses that almost any teen could start with little to no cost:

1. Web Site Designing

Teens often take their computer skills for granted because they’ve grown up surrounded by technology. Not only do most of them take classes that enhance their computer skills, but most teens spend a lot of time playing on computers.

Even without advanced training, many teens have computer skills far beyond the skills of the average adult. Teens who understand the basics of website design can earn money creating basic websites for small businesses. There are lots of web design programs that make building websites a fairly simple process for technology-savvy teens.

2. Babysitting

With typically low pay but huge responsibility, babysitting is a common part-time and summer job for young workers. Teens should learn basic first aid and possess skills working with children. Teens who receive high recommendations from parents are likely to be in high demand, which can allow them to increase their pay.

3. Creating and Selling Crafts

From yarn bracelets to homemade soap, teens can earn a handsome paycheck manufacturing and selling crafts. Crafts can be sold in a variety of places, from online auction sites to local stores. A teen who finds success selling homemade items may earn a chance to sell those products to retail stores.

4. Lawn Service

Lawn mowing is another common job for teen workers but some treat their lawn mowing services as a real business. They acquire many customers and offer a variety of services. Some teens starting lawn mowing businesses have grown these start-ups into full-time careers.

Landscaping, tree grooming, and other basic lawn services can be combined with lawn mowing. Any teen wanting to start a lawn mowing service should be dependable, however, so that customers can count on getting their lawn taken care of according to their needs.

5. Reselling

A teen who is good at bargain shopping may find success buying and reselling items. Plenty of people earn a decent living by shopping at their local thrift stores and then selling the items on auction sites, like eBay.

Clearly, your teen will need a little start-up money to purchase the initial items. And as with any business, there’s some risk involved because the items may not sell for more money. But, it can be a wonderful learning opportunity for a teen.

6. Seasonal Jobs

For some teens, a seasonal business will work best. A teen who is too busy during the school year to commit to employment may do best with a summer business for example.

Other teens may be busy with family vacations, sports camps, and recreational activities during the summer and may only be able to manage a business during the winter.

Seasonal businesses can include anything from gardening to snow shoveling.

7. Blogging

Blogging isn’t an easy way to make money, but many people have created highly successful blogs that allow them to earn a lot of money with advertising space.

Similarly, popular YouTube videos can help people earn money. But, your teen should understand that it isn’t an easy way to get rich, and it can take a lot of work to get a blog started.

8. Graphic Designing

Artistic teens may be able to earn some decent money through graphic design. The internet has opened up possibilities for any aged artist to create and sell drawings, logos. Teens can use various software programs to create images and there are many websites where teens can advertise their creations and offer their services.

But most of all it is really important to money management for children for better future of kids.

Posted in Discipline in kids, Financial freedom, money management, Parenting

How Assertiveness Improves Communication Skills

Posted on by Tim Connolly

Teaching your teen how to behave in an assertive manner can be a beneficial life lesson that will serve your child throughout their life. Take a proactive approach to teaching and enhancing your teen’s communication skills and also focus on their money management skills. Most of the times, many parents feels confused about how to teach kids about money, but it is important to focus on that part also as it will effect their future life.

Reasons Why Teens Benefit From Learning Assertiveness Skills

Here are ten great reasons why teens should learn assertiveness skills.

They’re Less Likely to Be Bullied

A teen who is able to speak up and say, “Stop that,” or “I don’t like it when you do that,” is less likely to be victimized compared to a teen who remains silent.

It can be very difficult to stand up to a bully, but it can be very effective when it is done in an assertive manner.

Teens who are assertive can also stand up for peers who are being picked on.

They’re Less Aggressive

If your teen understands how to ask for help or how to get their needs met, they are less likely to resort to verbal or physical aggression.1 Instead, they’ll be able to express their feelings in a more pro-social manner by using respectful words.

A child who can say, “Please stop doing that,” won’t have to hit someone to get their point across.

They Communicate Their Needs

Communication between peers, parents and authority figures are effective when a teen behaves assertively. Assertive communication reduces indirect communication, like asking someone else to pass along a message, and allows your teen to behave in a polite but direct manner.

It also ensures that a teen will talk directly to a person who offends them, rather than gossiping with friends about the issue.

They Have Healthier Relationships

Teens who can speak up when their feelings are hurt are likely to have healthier relationships.

Instead of allowing people to violate their rights, assertive teens can say, “I don’t like it when you do that,” which can help build mutual respect in a friendship or romantic relationship.

They Know How to Manage Their Stress

Developing an understanding of assertiveness skills can help reduce a teen’s stress level. For example, a teen who is willing to ask a teacher a question will be able to reduce the stress she experiences when they don’t understand the work.

Assertiveness skills help a teen proactively solve problems rather than passively allowing bad things to happen.

They Have Healthy Self-Esteem

Teens who speak up for themselves will feel more confident over time. And the more confident they feel, the more likely they are to behave assertively.2

Teens who feel empowered to speak up will gain more and more confidence over time as they see how their behavior yields positive results.

They’re Less Likely to Seek Revenge

When people behave passively, they often experience a lot of hurt and anger. This can lead them to later act out in a passive-aggressive manner. A teen who is bullied or picked on may secretly think about seeking revenge.

Teach your teen to behave assertively so they can address problems as they arise.

They Understand Emotions

Communicating assertively requires teens to stop and think about their feelings. This helps them develop a better understanding of their emotions over time.

As their emotional intelligence increases, it’s easier to develop strategies to cope with those emotions.

They Accept Personal Responsibility

Assertive teens can ask for help, say what they need and tell others how they’re feeling.

When teens can ask for what they want, they’re less likely to walk around blaming others for how they feel.

Instead, they understand that if they want something, it’s their responsibility to try and make it happen.

They Resist Peer Pressure

A teen who can speak up for themselves will be able to say no to something they don’t want. This means they are more likely to say no to sexual advances they aren’t comfortable with and they’ll be better equipped to resist peer pressure to use drugs or alcohol. 

Posted in Discipline in kids, Financial freedom, money management, Parenting, teaching teens

8 Essential Strategies for Raising a Confident Teen

Posted on by Tim Connolly

Kids who seemed confident throughout childhood may struggle to maintain self-assurance during the teen years. For many, adolescence is filled with self-doubt, a questionable body image, and insecurity. 

The good news is, you can take steps to help your teen build self-esteem. Here are eight strategies that will instill life-long confidence in your teen.

Promote Self-Improvement

Teens who struggle to master a skill may conclude they’re complete failures. A teen who has difficulty with math may decide they’re not smart. Or a teen who fails to make the soccer team may decide they’ll never be good at sports.

Show your teen that it’s possible to accept flaws while also striving to become better. There is a healthy balance between self-acceptance and self-improvement. Rather than label themselves as “stupid,” help your teen see that while they’re struggling academically, they can still strive to become better.

Praise Effort Instead of Outcome

Rather than praise your teen for getting a good grade on an exam, praise them for all the studying they did. Instead of saying, “Great job scoring those five points in the game,” say, “All that practicing you’ve been doing has been paying off.” Show them that it’s important to try hard and it’s OK if they don’t succeed all the time.

Your teen can control their effort but they can’t always control the outcome. It’s important to acknowledge their energy and effort so they don’t think they are only worthy of praise when they succeed.

Teach Assertiveness Skills 

Teens need to know how to speak up for themselves in an appropriate manner. An assertive teen will be able to ask for help when they don’t understand school work, rather than allow themselves to fall behind.

A teen who can speak up is also less likely to be treated poorly by peers. They’ll speak up for themselves when they don’t like how they’re being treated, and they’ll be able to ask for what they need in a direct manner.

Encourage Your Teen to Explore New Opportunities

Trying new activities like focusing on financial education for kids, discovering hidden talents, and challenging themselves can help grow teens’ confidence. But many teens are afraid of failure and don’t want to embarrass themselves. 

Encourage your teen to join a new club, play a musical instrument, engage in volunteer work, or find a part-time job. Mastering new skills will help them feel better about themselves.

Model Confidence

Your teen will learn the most about confidence based on what you do—not what you say. If you’re guilty of making critical statements about your body or your abilities, you’ll teach your child to do the same. 

Role model how to face new situations with courage and confidence and demonstrate the importance of loving yourself. Talk to your teen about times when you’ve been brave or things you’ve done in your life to help build your confidence. 

Build Self-Worth on a Healthy Foundation

If your teen only feels good when they get a certain amount of likes on social media or when fit into a certain size pair of pants, they’ll struggle to maintain confidence when situations don’t suit their needs. Basing self-worth on superficial things, external circumstances, or other people leads to a lack of confidence in the long run.

Help your teen build a healthy and stable foundation for self-worth. Emphasize your values and teach that true self-worth is about living according to those values. For example, help them see that it’s more important to be kind and caring rather than thin or attractive.

Balance Freedom with Guidance

Micromanaging your teen’s choices will only reinforce that they can’t be trusted to make good decisions independently. It’s important to balance just the right amount of freedom with plenty of guidance.

Provide your teen with plenty of opportunities to practice the skills you’ve taught. Let them experience natural consequences and they’ll learn from their own mistakes. Over time, they’ll develop increased confidence in their ability to make healthy choices.

Help Develop Positive Self-Talk

Your teen’s inner monologue will play a major role in how they feels about themselves. If they are always thinking things like, “I’m so ugly,” or “No one likes me,” they’re bound to feel bad about themselves.

Teach your teen to develop healthy self-talk. Point out how many thoughts aren’t true and help them see how being overly harsh can be detrimental. Teach her to reframe irrational thoughts like, “I’m going to fail because I’m stupid,” with something more realistic like, “I can pass math class if I work hard.” 

Posted in Financial freedom, money management, Parenting, teaching teens

Teen Parenting Tips (13, 14, 15, 16, 17, and 18-Year-Olds)

Posted on by Tim Connolly

The teen years are a time to ensure your child is going to be ready for life after high school. You’ll likely notice your teen can be quite independent in many ways. But, it’s also a time when you’ll notice areas that need some improvement.

When you notice your teen is struggling in certain areas, teach her new life skills one of the life skill could be teaching teens about money management . And give her plenty of opportunities to practice being responsible and independent. Focusing on healthy habits now can equip your teen to care for herself in the future.

Daily Life

Even though there will be times when your teen insists he knows everything or that he has all the skills he needs to function in the adult world, there’s a good chance his skills could use some fine-tuning.

Of course, the teen years come with many new opportunities too. Getting a driver’s license and getting a part-time job are just a few of the milestones that will give your teen opportunities to practice being responsible.

In the meantime, it’s important to teach your teen how to take care of himself and how to perform everyday activities that will prepare him for the future.

Diet & Nutrition

A well-rounded diet based on the USDA guidelines should help your teen get all the essential vitamins and minerals he needs. Adolescents are going to most likely fall short of the daily recommended quotas of calcium, iron, zinc, and vitamin D.1

Unless blood tests and a pediatrician’s evaluation reveal a specific deficiency, it’s preferable to obtain nutrients from food rather than dietary supplements.

Moderately active girls between 13 and 18 require 2,000 calories per day.1

Teens who are active more than 60 minutes per day may need more calories while teens who are sedentary will need fewer calories to maintain a healthy body mass index.

Teens make many of their own food choices. That may mean they’re likely to grab fast food with their friends. It’s important to educate your teen about making good choices.

Keep the focus on health, instead of weight. Discuss the importance of fueling his body and brain.

Keep the kitchen stocked with healthy fruits and vegetables. Reserve sugary items for an occasional treat.

Be on the lookout for dieting and body image issues, especially in girls. Teen girls are often trying to lose weight and many of them restrict their food intake or begin to eat only certain types of food. Eating disorders often emerge during the teenage years.2

Physical Activity

It’s recommended that teens get 60 minutes of physical activity every day. Aerobic exercise should be the main form of activity.3

But muscle-building exercises, like strength training, and bone-building exercises, like jumping, are also important for good health.

If your teen isn’t interested in joining a sports team, don’t force it. Help her find something she really wants to do. Going for a daily walk or a bike ride, kayaking, or swimming could be activities she enjoys more than being on a team sport.

Even if your teen isn’t into sports, there are many activities that can get him moving. You can also make physical activity a family activity. Go for an evening walk after dinner or go hiking on the weekends.

Limit your teen’s screen time and encourage him to spend time outside. Talk about the importance of keeping his body healthy and make it a priority to be a good role model.

Around the House

The teen years are a critical time for young people to practice making decisions on their own and to be given more responsibility. The more responsibility they can take on now, the less they’ll struggle during their transition to adulthood. 

Responsibilities that are learned as teenagers include:

  • Complete tasks efficiently and correctly at home, school, and work.
  • To care for their own personal hygiene and possessions.
  • Show compassion for other people.
  • To be socially responsible in their day to day lives and online.
  • Control their emotions and interact appropriately with people.
  • Understand that sexual activity can lead to consequences.
  • How to handle peer pressure situations, like drinking, smoking and doing drugs.
  • Adult privileges like driving a car or having a bank account.
  • Hold a job and work well with others in a team.
  • The ability to earn and spend money wisely.

Make sure your teen knows how to do important household tasks, like laundry and cooking basic meals. You may want to rotate chores sometimes to ensure that they have an opportunity to practice doing the household activities you do to maintain the home.

Give your teen privileges based on their responsibility level. If they’re able to show you that they can be trusted with household tasks, you’ll have more confidence that he can handle the responsibility of driving of a car or being out with his friends unsupervised.

While your teen will want to spend the majority of their time with their friends, it’s important to insist on spending some time together as a family. A monthly family fun night or weekly pizza night might be traditions you decide to keep.

Eat meals together as a family whenever you can. This can be an important way to connect with your teen on an everyday basis.

Health & Safety

It’s important for your teen to know how to care of his health. Risky behavior can be one of the biggest dangers teens face. So educate your teen about the dangers they face and take away privileges when your teen makes poor choices.

Visiting the Doctor

Teens can continue seeing their pediatrician until they are 21. Annual wellness checks are recommended for teenagers.

Sports physicals, acne, respiratory infections, asthma, and skin issues are common reasons teens need to see their pediatrician in between annual visits.

It’s important to give teens an opportunity to speak with the pediatrician privately. They may have questions about sex, sexuality, STDs, alcohol, drugs, or other sensitive issues that they aren’t comfortable speaking about in front of a parent.

The pediatrician should check your child’s body mass index, provide counseling on physical activity and nutrition, and provide education on sexually transmitted infections.

Sexually active teens may be routinely tested for sexually transmitted diseases, including chlamydia and gonorrhea, even if they don’t have any symptoms.

The American College of Obstetricians and Gynecologists recommends girls have their first gynecologic visit between the ages of 13 and 15.

The Centers for Disease Control and Prevention recommends teens have their second dose of the Meningococcal vaccine at age 16.

The pediatrician should also screen for mental health issues, such as depression and anxiety. It’s important to bring up any concerns you may have about your teen’s mood or behavior.

Sleep

The AAP recommends teens receive between 8 and 10 hours of sleep each night. Early school start times can make it difficult for teens to get the recommended amount of sleep.

Their biological clocks cause them to stay up later and sleep in longer. This makes waking early very difficult.

There are several things you can do to help your teen get enough sleep:

  • Talk to your teen about her nightly routine. Discuss the importance of giving herself time to unwind before she goes to bed. Reading or taking a bath can be good ways to unwind.
  • Turn off electronic devices early. Shut off smartphones, laptops, and TVs at least 30 minutes before bedtime. Don’t allow her to sleep with a smartphone in her bedroom.
  • Discourage naps. Falling asleep after school can interfere with nighttime sleep.
  • Keep your teen’s sleep schedule consistent. Sleeping in on the weekends or staying up too late on vacations will interrupt your teen’s biological clock. Establish a wake-up time on non-school days that is no more than onehour later than school wake up times.

Safety

The biggest safety issue teens face is their risky choices. They’re likely to be impulsive at times, and sadly, it only takes one bad decision to get into a serious accident.

Motor vehicle accidents are the leading cause of death for teens in the U.S. Teens age 16 to 19 have a much greater risk of death or injury in a car crash than any other age group.7

Before your teen gets behind the wheel—or becomes a passenger with a teen driver—it’s important to understand the biggest dangers that lead to teen car crashes. Distracted driving, speed, and driver inexperience are all factors that can contribute to motor vehicle accidents in teens.

Create rules for your teen and make your expectations clear. Talk about consequences for reckless behavior, such as driving too fast or getting in the car with someone who has been drinking.

The third greatest risk to a teen’s health is violence. IN 2017, more than 1,800 teens from the ages of 15 to 19 died from violence in the U.S.

According to a 2017 survey from the Centers for Disease Control and Prevention (CDC), 19% of teenagers have been bullied during the previous year. And 16% of students reported carrying a weapon (a knife or gun) at least once in the previous 30 days.9

Talk to your teen about how to stay safe. Discuss what to do if he’s bullied or how to respond if he learns of another student carrying a weapon. Talk about dating violence as well, since many acts of violence occur in romantic relationships.  

Suicide is the third leading cause of death for teens from 15 to 19 years of age.8 Approximately 7% of high school students attempt suicide in 2016, according to the CDC, but many more teens think about suicide but don’t act on it.

While there are many factors that contribute to suicide, loneliness, depression, family problems, and substance abuse can place a teen at an especially high risk.10

It’s important to monitor your teen’s mental health. If you suspect your teen may have a mental health issue or they’ve expressed thoughts of suicide, seek professional help. You can start by talking to their pediatrician.

Technology

Technology plays a huge role in the everyday lives of teenagers. It’s changed how they date, socialize, and communicate.

Stay up-to-date on the latest apps, social media sites, and digital devices teens are using. Your teen won’t listen to your warnings if you aren’t educated about the risks and dangers.

Cyberbullies and sexual predators pose credible risks. But those aren’t the only threats your teen faces online.

People may attempt to steal their identity too. Or, they may be invited to participate in scams or fraudulent activity, without even realizing it. So it’s important to educate your teen about these dangers.

It’s also important to talk about the importance of managing their online reputation. The pictures they post, memes they share, and content they like will create a permanent record of their activity.

The choices they make online now could affect them for the rest of their life. College admissions officials, future bosses, and even future romantic partners may turn to the internet to gain information about them.

Create clear rules for your teen’s smartphone and other electronic devices. Establish consequences for breaking the rules.

While you don’t need to read every message your teen sends, monitor their online activity. Know what they’re doing online and make sure they’re making healthy choices.

Your Teen’s World

It’s normal for your teen to think the world revolves around him sometimes. In fact, they might even think they have an “imaginary audience.”

The “imaginary audience” is a label for teens’ belief that a group of followers exists who constantly watch and judge their every move.11 The belief arises from the larger concept of adolescent egocentrism, that teens think the world revolves around them and that everyone is paying attention to how they look and what they do. This is a normal phase of social development in teens.

It can be exasperating for a parent to see their teen change his shirt five times before heading to school, with most of the choices appearing almost identical. But this is normal teen behavior.

In addition to becoming more invested in social relationships, your teen will also grow more aware of social issues. They may grow invested in helping a charity or fighting for a political cause they believe in.

As your teen matures, they’ll spend more time thinking about their values. They may question their faith or claim they’re going to live a different lifestyle than you. That’s all part of the separation process as your teen becomes their own person.

It’s normal for all teens to feel like they don’t fit in sometimes. Their confidence is also likely to waiver. But for teens who are bullied and ostracized, adolescence is likely to be an especially rough time.

If your teen is struggling to fit in socially, consider getting professional help. Loneliness and isolation could lead to mental health problems.

It’s also important to keep a close eye on your teen’s stress level. Academic issues, social problems, sports-related pressure, and preparing for the future can be overwhelming at times.

Teens need healthy stress reduction activities and relaxation skills. Proactively teach your teen how to recognize when her stress level is high and show her how to cope with stress in a healthy way.

Quick Tips

Whether your teen loves music or he’s into sports, support your teen’s efforts to be an individual. That may mean taking a step back and realizing that your teen’s job isn’t to fulfill your dreams for them—their job is to reach their own dreams. 

Posted in Discipline in kids, Financial freedom, money management, Parenting, teaching teens

Steps to Good Decision Making Skills for Teens

Posted on by Tim Connolly

Teens make potentially life-altering decisions every single day. Yet, most teens aren’t ever given skills about how to make healthy decisions.

As a result, some teens struggle when they’re faced with decisions like: Should I get a job? What should I say to a friend who offers me a cigarette? Should I ask someone out on a date? Is it OK to become sexually active?

Good decision-making skills can set your teen up for success later in life. Additionally, good decision-making skills help teens manage their stress levels better.

Here is how you can help your teen learn to make good decisions in five straightforward steps.

Provide Guidance 

The key to helping your teen make the best decisions involves providing plenty of guidance, without overdoing it. Be willing to give input when necessary, but don’t be afraid to step back and let your teen make mistakes.

Sometimes, natural consequences can provide valuable life lessons. Just make sure that you’re there for your teen when she fails. Help her learn from her mistakes and discuss how to make a better choice in the future.

Identify the Problem

Sometimes, teens ignore problems or blame other people for them. A teen may say he’s failing math because his teacher doesn’t explain the assignments. Or, he may avoid doing his homework because he’s too anxious to face the pile of work he’s been avoiding.

So sometimes, it’s important to help your teen spell out the problem. Hold a conversation with your teen and gain your teen’s input by asking questions like, “What do you think is going on here?”

Brainstorm Options

Encourage your teen to identify her options. Often, teens think there are only one or two solutions to a problem. But with some time and encouragement, they can usually come up with a long list of creative solutions.

Challenge your teen to identify as many choices as possible even if they seem like a bad idea.

Tell her to list as many as she can. Tell her to write down her options so she can review them.

Review the Pros and Cons

Once your teen has a list of options, tell her to identify the potential pros and cons of each one. Writing down the pros and cons will help her see for herself which option could be the best choice.

Talk about how emotions can play a big role in decisions. Fear may prevent her from trying something new while excitement may cause her to underestimate risk.

Discuss how writing down the pros and cons can help her tackle a problem with logic, rather than base her decision on emotion alone.

Ask your teen to identify which choice seems like the best one. Offer input and guidance as necessary, but try to encourage your teen to make the decision on her own.

Make sure your teen knows that there isn’t always a bad choice. Choosing between two good colleges will have pros and cons but both options may be good ones. So while it may be stressful to choose, it could be a good problem to have.

Create a Plan to Move Forward

Once your teen reviews the pros and cons of her options, talk about how to move forward. Identify what steps she can take next.

Also, talk about how to evaluate her choice and also focus on how to teach kids about money. It’s important to examine whether it was helpful or whether she made a mistake. Examining whether her choice was effective could help her learn and assist her in making even better decisions in the future.