299. The 5 Money Beliefs That Shape a Teen’s Financial Future
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Jesse and I are back in the studio this week together to talk all about raising financially confident teens, I have personally seen firsthand how a few key mindset shifts can totally change the game, not just for them but for the entire family dynamic
In this episode, we are unpacking five powerful money mindsets that can shape your teen’s relationship with money in ways that last far beyond high school! These aren’t just fluffy theories or one-size-fits-all strategies. We’re talking about practical shifts – some that may even challenge how you think about money!
Tune in as I get into why a $20 hoodie “costs” more than $20 (and how that concept can seriously shift your teen’s thinking), why giving your kid everything might actually rob them of future success, and how the most valuable lessons often come from small mistakes. We also take a look at why compound interest isn’t just a boring math concept but one of the most exciting opportunities your teen can tap into if they understand it early enough.
Jesse and I explore how creativity and contentment can become your teen’s financial superpowers and how you can help them develop those strengths without a single lecture. I’m also sharing a brand-new resource called The One Hour Budget for Teens, along with a freebie packed with 15 essential financial skills every teen should know, so if you have ever wondered how to raise a teen who is smart with money and not just good at spending it, then this episode is definitely for you!
In This Episode
[0:35] – Jesse and I are discussing talking to kids early about money, building lasting habits.
[3:25] – Teaching kids to earn purchases shows them that money equals effort and thoughtful decisions.
[5:33] – Jesse argues that teens shouldn’t be taught to equate money solely with hours worked.
[6:37] – It’s important to show kids the value of long-term gains by discussing investments and risk vs. reward.
[9:06] – I add that living below your means sets teens up for financial independence and effective budgeting.
[12:41] – Jesse points out that failures are learning opportunities that often teach us more than successes do.
[13:13] – I encourage allowing kids to make financial mistakes because they’ll gain lasting wisdom from the experience.
[16:04] – I warn about online scams and introduce a fun, teen-friendly budgeting guide.
[19:07] – Initiate financial talks with teens via shared activities and honest but non-judgmental conversations.
[22:53] – I argue that excuses only delay progress, so start managing what you have now, even if it’s only $30.
[25:37] – Contentment now is key to lasting financial peace and success.
[28:32] – Removing screen time and ads has helped our son become more motivated to earn.
[30:11] – I have realized that buying more can’t fix deeper issues that only contentment can address.
[33:42] – Go to my store to download The One-Hour Budget for Teens, using the code TEENS at checkout!
Links & Resources
15 Financial Skills for Teens Freebie
The One-Hour Budget for Teens (Use code TEENS at checkout!)
Social Media
Crystal Paine on Instagram (@moneysavingmom)
Crystal Paine on Instagram (@crystaliscleaning)