ASK NEALE: My Teen Refuses to Save


Remember that kids learn from watching parents — be aware of the messages you send and the examples you set. You should have a family budget, and include your teens in regular money meetings. Your meetings should be practical and informative. Be transparent.

  • Teach your children how to use a checkbook: writing checks and keeping accurate records. Show them how online banking works, but don’t share your password!
  • Taxes are a part of life. They’re not fun, but they’re here to stay. Explain that at their core, the idea of taxes is a great one. Introduce your kids to the concept of taxes.
  • Continue to teach the difference between need and want. It seems that our kids learn to say “I need it” before they learn their own name. A Need: Something without which your daily living would be impossible, or very, very difficult. A Want: Something that if you had, you’d be happier momentarily, but if you didn’t, you could live without.
  • Talk to your older kids about investing and the stock market. It is part of the big picture of money as a life skill — and it’s an empowering skill — a real adult activity that teenagers can take an interest in.
  • Teaching the time value of money is a must — explaining the real cost of purchases.
  • I know you don’t want to think about it, but at some point you are going to have to face the subject of teens and cars.
Comments (3)
No. 1-3


A mother's work is never done :) Isn't that the truth? Thank you for being a part of our new community.


Thanks. When I broke out my checkbook last month (I haven't used it in a year), my daughter asked me "what is that?" I guess I've got work to do :)


My teens are so different from each other. One never saves, the other won't stop spending. This is good advice I need to put in place.

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