Build your teen’s financial confidence for life after high school

(NC) Do you know a teenager graduating from high school in the next few years? Do they have the financial confidence to take on the world after this important milestone? With the rising cost of living and our increasingly complex financial marketplace, learning about money now will help teens make informed financial decisions today and in the future.

Encourage a savings habit
When your teenager gets a summer or part-time job, encourage them to save some of their income. Help them set up an automatic transfer of some of their earnings to a savings account. This can help them reach long-term savings goals, such as paying for post-secondary education.

Get them involved in budgeting
Show your teenager the household budget to help them understand real-world costs firsthand. This can also help them manage their expectations and prepare them to live on their own.
Having a budget is important to manage day-to-day spending and can help your teenager feel in control of their finances.

Make learning about money fun
Gamified apps are a fun and engaging way to help teens build financial knowledge, skills and confidence.

For example, the Financial Consumer Agency of Canada offers two self-paced financial literacy courses on, a gamified content engagement platform that helps kids prepare for life after high school. Students can learn basic concepts and strategies for money management and budgeting while earning points, donating to charity, and winning prizes.

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