10 Must-Know Basics in Financial Literacy for Teens

If you are parenting a teen, then you should know that their teenage years are ideal for teaching them about finances.

Teach Money Management Through a Bank Account

Instead of giving them long boring talks on money management that rarely work, open a bank account in their name.

Convince Them to  Save for College

This activity will inculcate the habit of savings in them and help them realize the importance of money in college life.

It is often seen that teenagers burn through their hard-earned savings in the blink of an eye due to impulse buying.

Teach Them How to Avoid Impulse Purchasing

Have a Session on the  Perils of Credit Cards

As a parent and guardian, it is your responsibility to educate your young ones about the dangers of credit cards and how to properly utilize them.

Teach Them the Concept of Compound Interest

You can help young kids understand compound interest with real examples and where they are involved directly or indirectly.

Have Tax Talks

Even if they are not tax-liable for now, they will become liable soon.

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