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
- 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: