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  • Emily Friday

How to Talk to Teens About Money | Part Four

Last month, we shared the third part of our 4-part series on simple money concepts you can introduce to your children and teens between the ages of 13 and 15.

In the fourth and final part of this series, we’ll be sharing four age-appropriate money concepts you can have with your kids in the next age bracket: teens aged between 16 and 18.

Before your teens reach the big 18, help prepare them for adulthood with these topics to help continue the conversation on money:

1) Earning Money Through Part-Time Jobs

Now your child is quickly approaching the end of their teenage years (they grow up so fast!), you’ll want to encourage them to seek out part-time work on top of their studies.

Whether they’re at college doing their A-levels or are now moving on to university - or maybe skipping further education altogether - a part-time job can help ease them into the transition of working in the adult world.

Thankfully, there are lots of part-time jobs available for students and teens of this age group e.g. waitressing, retail work, or working behind the bar (if they’re 18) that wil help them establish financial independence.

2) Household Expenses & The Cost of a Family Home

Hopefully, by now, your child will have a basic understanding of income vs. expenses.

If you haven’t already used the example of your own household expenses, now is a good time to do so to make them aware of the true costs of a family home vs. a single home.

This should also help them understand the true costs of moving out should they decide to do so, and it’s also a good way of introducing the importance of a budget when moving into shared accommodation at uni.

Check out these tips on how to budget at uni from Saving The Student.

3) The True Costs of Owning a Car

By now your teen is more than likely itching to get their hands on their first car - however, it’s crucial to inform of the true costs of owning one - and how it may set them back in other areas.

Whether you decide to get them insured on the family car or have them responsible for paying for their driving lessons/fuel costs, there are always extra costs to consider even if you are helping them out (at least partially).

If you’re considering adding to their allowance in order to help them save up for lessons or fund their fuel for travel, why not provide them with their own digital ImageNPay card?

With ImageNPay Family, you can transfer an allowance you set directly to their wallet and view their transactions to monitor spending. Find out more here.

4) How to Monetise Skills & Talents

Introducing the concept of monetising skills, talents and hobbies to your young ones may not be high on your list of priorities, but teaching your kids how to do this early can help them identify other ways of increasing their income - meaning you can also go easy on the pocket money!

There are tons of easy ways for teens and students to make money from their skills, and many of them don’t even require leaving the house - take a look at this list for some ideas.

Click here to find out how an ImageNPay prepaid card can enhance your teens’ student experience.

5) Wage Questions When Looking for a Job

Whether your teen is on the hunt for a weekend job or is skipping university and going straight into a full-time career, it’s important to make them aware of what kind of questions they need to be asking during job interviews.

Questions about the salary of the job they’re applying for are a great place to start. Check out these tips from HirePaths for everything your kids need to be aware of when they begin job-searching.

Bonus tip: When they receive their first payslip, talk them through it and ask them if they have any questions about what’s on there e.g. tax codes, national insurance. This will help get them into the habit of checking their payslip every time they’re paid.

We hope this guide on money conversation starters for kids and teens has been helpful: no matter where your kids fall in the age groups, it’s never too late to learn and pass along good money habits!

If you missed the other parts of this series, simply click on a specific chapter below:

Part 1: Kids aged 5-7


Help provide your kids with the tools they need to be financially savvy adults with the ImageNPay app.

With ImageNPay Family, you can add up to 3 separate cards for your kids which you can use to transfer money, monitor their spending, and make money a fun-learning experience with colourful card designs and moving images!

To find out more and download FREE for iOS or Android, just tap the button below.

You can also visit our FAQs page for all you need to know about how our app works and the benefits for kids and parents.


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