Published On: Mon, Oct 26th, 2015

5 LIFE changing tips to teach your teen

In life as parents, you prepare an invisible suitcase of tools to help your child for life’s opportunities. Teaching your child the value and importance of financial literacy can save you a lot of heartache and headache. Here are 5 must teach tips before your teen leaves home.

1. Teach Contentment and Gratitude. More is caught than what is taught. Its important to teach young adults how to have a contentment heart. Things do not define your value. Contentment and gratitude is an inward action, its a sense of appreciation for what you have.

2. Budgeting. Learning to manage money wisely, can save a heartache of pain. Telling your money where to go helps keep your finance house in order. Budgeting gives you direction, creates order, and gives each dollar a purpose.

3. Create an emergency fund. Emergencies don’t make appointments. Saving between $300-$500 for a flat tire, broken cell phone screen, etc. Having an emergency fund is like car insurance you pay monthly for a service that is required just in case and use when you need it.

4. Get out of debt or not. Attending college is not a requirement in life, its a purchase and investment into your future. Since its a purchase, like all other purchases you should research the cost and create a quality check list of requirements. Let me just say, no one checks the college degree of their doctor or lawyer so consider that when applying for colleges. Its important to make every opportunity to graduate debt free. One of the great wealth building tool you will have its your income so protect it at all cost. 

5. Be a giver. Giving does not have to be monetary, it can be expressed through your time. Giving of your time and talents  teaches responsibility, maturity and stewardship.

Photo Credit: Speedy Cash


Natasha Campbell
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About the Author

- NATASHA M. CAMPBELL is a passionate certified educator specializing in curriculum and development, personal finance coach, licensed real estate agent and founder of Lifestyle Success Unlimited, a financial education company. Natasha holds a Master’s degree in Business Administration and has earned a Bachelor's degree specializing in Finance and Real Estate. Natasha is the voice for transformational change in the area of wealth. Natasha's intention is to get you “launched, jump started" or “unstuck” to clear out any resistance, obstacles, or limitations that are standing in the way of you reaching your success. Natasha's journey as a financial educator has appeared in several media outlets including U.S. News, Yahoo Finance, Daily Finance, Go Banking Rates, and more.

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Did you know?

African Americans are significantly more likely to have some type of debt (94%) compared with the general population (82%). Credit card debt, student loan debt, and personal loans are all significantly higher in the African American community.

Source: Prudential’s 2013 "African American Financial Experience" study