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Empower your teen’s financial journey

Understanding your finances can be a daunting task for anyone, regardless of age or experience. Discover our tips for talking to your teens about their financial journey.

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Navigating the world of finances can be a daunting task for anyone, regardless of age or experience. Even people who consider themselves financially savvy can sometimes find themselves lost in the maze of jargon and complexities.

We understand how important it is to equip our young adults with the skills they need to confidently manage their finances and make informed decisions about their future.

Words that Count is our six session financial literacy programme designed for young people aged 15 to 19 that aims to put teenagers in control of their own financial destiny.

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How do I talk to young people about their finances?

Awkward? Doesn't have to be! Here are four tips on how to start a conversation with your teenager about finance and managing money.

Watch FinTok

FinTok simply means finance TikTok, which is a particular space for content on social media that is all about money. It can be really helpful and shares some top tips on spending, saving and more.

We invited TikTok influencer Poku Banks to create a series of videos that breakdown challenging financial terms and topics including income tax, budgeting, and rewards and consequences. Each of the seven videos in the series tackles a separate topic and unpacks the misconceptions attached to financial terminology. Watch them through and see what you learn, or know already. Try sharing the videos, or watch them together to start a conversation.

Trust us!

Our Words for life page contains articles that will help you to learn about different key financial topics, with accessible information delivered by experts. Here is a list of pages to support you with your teens:

Here are some other topics that your teens (and you!) might find useful:

Avoid talking about money

That's right, ignore the numbers. Financial responsibility often comes with the decisions we make before we even think about the costs of something. It is important to explore the concept of ‘want’ versus ‘need’ to help young people prioritise and better understand how to manage their budgets, whatever size the budget might be.

  • Discuss whether certain spends are wants or needs. Wi-Fi for example, in some contexts could be categorised as a want, but what if you work from home? Does that change the outcome? Here are some other expenditures you can ask them about: fast food, sports channel subscription, Netflix, owning a car, going on holiday.
  • Create a budget plan for your household.
  • Use an online supermarket website to help each other create a simple meal plan for the day or week. This will help them understand the value of items, begin to make choices and practise how to spread their expenditure over time.
  • Discuss how money makes people feel. Present young people with scenarios and ask them how they would feel. This will help them to understand that often we attach emotions to our spending.

Lean on the experts

The topic of finance is massive and can feel daunting to approach, but there are many other opportunities to learn more about these tricky topics:

If you need to signpost your young people elsewhere to find more specialist support, The Mix is a UK based charity that provides free, confidential advice about many topics, including finance for young people under 25.