Teenagers, Math and Money Management!

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Teenagers don't think they have ANY use for math. In their daily lives, or at school.

If you asked my teenager daughter if she would ever use the math she is learning at school, she would say NO WAY!

I beg to differ! Maddie uses math when she is figuring out her daily schedule, when she plays her guitar, when she plays sports, but most importantly, in dealing with money!

However, when I start talking about money, she suddenly is ready to listen!!!!!

Teaching teenagers about money is so important, but it should start when they are very young children.

As parents, we feel like we get the privilege of shaping how our children view money.

Big fans of Dave Ramsey the last 3 years, we try to instill in our children that every dollar has a name and that the only money that should be spent is the green kind, not the plastic kind.

We also like to use money management in the language we use with our kids, as well. 

Instead of telling our kids we don't have enough money to go out to lunch, we tell them we do have money but that we are choosing to spend it on something else. 

Now that our daughter has her driver's permit, teaching her to save her money to buy her first car is not only a great math lesson, but a great life lesson!

We told Maddie when she turned 15, that we would match any money she would raise this year to purchase her first car. 

We sat down and helped her make a plan. All of the money that she earned at our family business would go into her savings account, and any money she earned babysitting or cat sitting would be hers to choose to save or spend.

We would have an envelope at our house where the extra money earned would go in and she could take what she needed, when she wanted.

Maddie ended up saving about half of the extra money she earned but was careful about how she spent it. 

It is great seeing our girl choose to save her money instead of spending it. I like to show her her bank statement every month to show her the progress she is making toward her goal! 

And showing her the bank statement helps her understand interest, as well!

When she gets tempted to spend it all, she likes to head to craigslist to look at cars to get herself motivated.

We like teaching our kids that math does have a place in their everyday life. And that smart money management can begin at any age.

The day Maddie purchases her first car, I know she is going to see firsthand, how math and her own hard work got her there!!!!!!!

If you are interested in teaching your kids about money management, you can find great Dave Ramsey curriculum and books for kids here.