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 make!

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 system first, and then move to a checking account.  

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 and flexibility in life. 

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 build a savings account to help launch into adulthood.  Your life will be different when you have a “Launch Account” with money set aside to get you on your feet right away and begin the process of winning in the real world.

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 life, and then taught to others.  Working through this roadmap will provide the skills and habits to be successful with money.

Step #10. The final step is the development of character.  Managing money teaches principles and discipline that will benefit you financially and in all of life.

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