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Money and Teens: Savvy Money Skills – Sharing a Book

Category: Books | Age Group: 14-16

TOPIC:

Essential Money Skills

RESOURCES NEEDED:

A copy of the book: Money and Teens: Savvy Money Skills (paperback) by Wesley and Darby Karchut, Copper Square Studios 2012, Available through Chapters, Amazon, Kindle, Kobo

LEARNING OPPORTUNITY:

A recent survey of Canadian high school graduates suggested that many of them have unrealistic ideas about money and finances. This book teaches essential money skills that will help them waste less and have more money. Every student should read this book before getting a credit card, taking out a student loan, signing a cell phone contract, applying for a car loan, start a job or buy one more thing online. It has lots of helpful resources, charts, and examples for teens who are just learning to manage their money.

THE ACTIVITY:
  • Ask your teen if they know how much the Canadian debt is. Tell them that for every dollar earned, Canadians owe about $1.67! The next generation can avoid accumulating such debt by learning to be financially responsible.
  • Suggest with your teen that you both can learn to be financially savvy by reading this book. Read one or two chapters at a time and discuss with your teen what you have learned.
  • If they have more questions, help them to find the answers.
FOLLOW UP IDEAS:
  • Ask your teen to create a budget of their own or get involved in a family budget.
  • Next time they want to make a purchase, encourage them to shop around and compare prices so they get the best value for their money.
WEBSITES: