Are you tired of watching your teen waste money on frivolous purchases? Do you want your child to focus on what is important instead of the trivial? It is very common for teens to spend their money on things they want for immediate gratification. Thankfully, there is a way to help them see the bigger picture. A Personal Priority List makes it easy for Teenagers to make smart money decisions.
When you give your dreams a deadline, they become goals, and when you put your goals in order of importance they become priorities. Breaking your priorities down into smaller pieces, or steps, allows you to build a daily action plan. Scheduling
The personal priority list is the key tool to help teenagers learn how to make great decisions with money! It will teach teens to think critically, evaluate endless options, and fine-tune their decision-making skills. And as a bonus, it will do all of this while keeping them focused on accomplishing their goals and living their dreams! A priority list incorporates many financial principles, including planning, saving, patience, and delayed gratification.
First, create and maintain an ongoing personal priority list to organize your money goals and dreams. Write down what you want to purchase, do, or experience. Your list can include physical items, experiences, services, or anything else! Arrange the list in order of importance to you.
Every time you earn money, a certain amount will be used, or budgeted, for “random spending”. This is money that can be spent on absolutely anything you want at any time,
When you want to buy an item that costs more than the money you have set aside for random, guilt free spending, simply add the item to your personal priority list.
You can purchase any item you choose on your list after it has been on the list for at least 2 weeks, and you have enough money set aside for it. After you purchase an item celebrate it! After all, you set a goal and accomplished it using great
The order of your priority list can be changed at any time. For example: if you have the spending money to purchase item #2, and it has been on the list for at least two weeks, you may purchase that item.
After using your Personal Priority List for a while, you will learn many things about your habits, goals, and priorities. You may find that you change your mind about what is on the list, or the order of priority. I recommend spending a few minutes each week reviewing and updating your Personal Priority List. Share any changes you make with your parent, or another adult and write down the things that you are learning.
Your Personal Priority List will keep you focused on your real goals and priorities which will help you spend and save money wisely as you live your dreams and win at life!
This is such a powerful tool, I want you to put together your very own priority list. Take some time now to start your own Priority List and start making plans and making great decisions.