Week 25 -- "Budgeting Your Money" -- Grade 10

Week 25 -- "Budgeting Your Money" -- Grade 10

Suite360 Student Lesson Name: Budgeting your money.

Brief Summary: When your child joins the work world, it can be a very exciting time for them. They are developing independence, and beginning their lifelong relationship with money management. There is an enormous swing in terms of financial literacy- and it is important as parents to help your teen learn how to manage their money and live within their means. 

Shared vocabulary: None

Key Takeaways:

  • Keep things simple, with a focus on building a positive relationship managing money.
  • Help them set up a simple savings plan either for something they are looking to purchase, or just a set amount of money to save for a certain period of time.
  • Help them set some saving milestones to get a feel for managing their paychecks.
  • Financial literacy can be achieved when simple goals are set and progress toward reaching those are monitored, with your teen in the driver’s seat!

Continue the Conversation:

  • What does financial literacy mean to you?  Does this change as you get older?
  • What is the difference between saving and investing?
  • Is there a difference between debit and credit?  If so, what is it and how do you manage them differently?
  • What is debt?  Can debt be positive, negative, or both?

Additional resources/suggested reading: