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My Kid Got a Job. Now What? Three Financial Tips for Parents

Whether its the local ice cream shop or a popular retail store, a first job is an exciting experience that brings with it new kinds of responsibility and freedom. It is also the perfect opportunity to start teaching yout child about managing money, regardless as to what their paychek may look like or what their expenses are (if they have any). 

We’ve put together three financial tips to teach your child about to get them to start thinking about their money and how they manager it. The younger they learn about financial responsibility and money management, the smarter they’ll be when it comes to more serious financial decisions down the line. 

Open a bank account 

Most banks offer great incentives to teens when they open their first bank account. Some banks will offer a bonus for opening a checking account and most banks waive monthly maintenance fees and don’t require a deposit minimum. 

After opening a bank account, see if your child’s...

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Financial Literacy month, does it work?

April is finally here with warm weather, sunshine, spring, and Financial Literacy Month! Raise your hand if you're celebrating

However, for the last twenty years financial behavior has not changed for the better among young people. In fact, it's worse.

  • More consumer debt
  • More student loan debt
  • Little to no investing
  • Increase in financial stress

 

What can we do?

Stop talking about it and do something about it!

If you are someone that is having financial troubles or if you know someone that is having troubles, take our Do Money Differently course and see the difference it can make!

Let’s start talking about it in the right way.

As humans, we're wired to be SUCCESSFUL at something. So, let's change the month of April to Financial SUCCESS Month.

 

At Young Money University, we believe traditional financial literacy is mediocre at best.  So we want to give you confidence to start investing in YOURSELF with learning how to do money differently. 

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THE "I'M NOT SMART ENOUGH" LIE WE BELIEVE

financial success Mar 27, 2021
What does the title have to do with achieving long term financial success?   
 
EVERYTHING.
 
This week I presented via Zoom to a number of students aged 19-29 who attend BYU Idaho.   Fantastic engagement with a number of people sharing that they periodically tell themselves that they might not be smart enough to reach goals and dreams for their lives.   This is the number one lie young people tell themselves that can greatly hinder you from taking action to becoming financially successful.  
 
So what's the antidote to this lie that creeps in from time to time?    
 
TAKE ACTION
 
Take action by creating a WHY for your life.  WHY do you ultimately want to be financially successful?  Write that down.  Be specific.  I give you permission to dream big!
 
That's Step One in our DO MONEY DIFFERENTLY course that's been helping thousands of young people think...
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Avoid these classic money mistakes in your 20s!