Guides / Teaching kids
Teens and money: paychecks, debit cards and credit
The skills teens need before they leave home.
The teen years are the last chance to practice with real money while mistakes are small and you're still close by.
Skills to cover
- Reading a pay stub: gross pay, taxes and take-home pay
- Using a debit card and checking the balance
- Building a simple monthly budget for their own costs
- How credit cards and interest work, and why paying in full matters
- Spotting scams: fake job offers, prizes and requests for codes or passwords
Ways to practice
- Give a monthly budget for clothes and fun instead of paying as you go
- Let them plan and pay for part of a family outing
- Walk through your own utility bill or grocery receipt
General educational information, not financial advice. Your Money Stretcher isn't paid by any bank, lender or company mentioned here.