How to uncover and address your teen’s money fears
Rumor has it teenagers only worry about their phones and their friends. But what if they worry about money, too?
Research from the 2022 Junior Achievement Teens & Personal Finance Survey found that over 54% of teens feel unprepared for their financial futures. One way parents could help their kids feel more prepared is by addressing their money fears.
Uncover your teen’s money fears
There are several ways to learn about your teen’s money fears, but a good place to start is by looking at yours.
“[Parents] have to look at their own issues because what you bring to the table is what your kids are going to pick up, even if you tell them to do the opposite,” says Michele Paiva, a Downingtown, Pennsylvania-based licensed psychotherapist whose work focuses on trauma recovery, and financial education and therapy.
Get introspective about what your feelings about money are and how that might show up in your home. For instance, if you’re always arguing with your partner about their or your spending habits, this could contribute to your teen developing insecurities about their ability to manage their finances.