EP 103: Preparing for Liftoff: Financial Literacy

Today’s episode is all about fostering financial literacy in our teens and young adults. We start with some of the main financial related concerns we hear from kids during and after college, and we work backwards, highlighting specific tools and skills we can teach our kids before they leave home. We explore methods of payment, tipping, budgeting, and allowance/income. We also talk about natural opportunities to grow these skills, as well as opportunities for financially oriented natural consequences (e.g., how to respond when your teen loses her laptop stylus for the 3rd time in 3 months!). Lastly, we highlight how financial literacy can be complicated: it’s hard to talk openly and directly about finances, and money tends to stir up all kinds of emotions (which makes it even more uncomfortable).