Money Smart Skills for Teens is all about helping teens prepare for the real world so they can win at life and be 100% confident with their money. The Ten Steps create a roadmap for Teens to follow so that they can WIN with money and truly jumpstart their financial life.
Following this roadmap will be the smartest money decision Teens ever
Here are the Ten Simple Steps to launch your teenager into the real world so they are ready to experience success with money.
The Ten Steps for Teen Money Success
Step #1. The first step is to learn how to manage money. We recommend learning how to manage money using a cash
Step #2. The second step involves learning how to manage money each month. Many families begin transferring the items that would normally be spent ON the Teen TO the Teen so they can manage it each month. Some of these expenses may include: gifts, clothing, cell phone, gas, and insurance.
Step #3. The third step is to learn the value of work. Understanding how to use your time and effort to earn an income that is then used to pay for or fund your life is a HUGE lesson.
Step #4. The fourth step is to develop multiple ways to earn income. Having many sources of income provides choice, freedom
Step #5. The fifth step is to purchase a quality vehicle with cash. Paying cash sets the standard for wise, freedom creating decisions both now and in the future.
Step #6. The sixth step is to complete your desired education without loans. A “debt-free degree” sets young adults up for long term financial success and requires preparation, setting money aside, and making good, early decisions.
Step #7. The seventh step is to b
Step #8. The eighth step is to develop a financial plan for your 20’s. The 20’s are a very important decade for financial planning and good decision making because of the time value of money and compounding. Learning to allow money to work for you with investments, instead of against you with debt, will yield benefits for your entire life.
The final 2 steps are the result of completing the first 8 steps.
Step #9. The ninth step is to learn money skills and habits that can be used for your entire
Step #10. The final step is the