From Dreams To Dollars ( Help Your Teen Plan for a Financially Secure Future)

In this episode, Matt and Charla delve into the importance of preparing teens for financial independence and realistic career planning. Charla, creator of Beyond Personal Finance, shares insights from her curriculum designed to help teens understand the cost of living and plan effectively for their future.

Key Points Discussed:

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2. Understanding Financial Goals:
   

– Many teens lack a clear understanding of how much things cost and how to plan for financial independence.

– By helping teens visualize their future, including potential careers, living expenses, and lifestyle choices, they can make informed decisions and set realistic financial goals.

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3. Examples of Financial Planning:
   

– Career Choices:  Charla shares a case where a student had to choose between being a composer or an engineer. The student used the financial insights from the curriculum to understand that being an engineer would provide a more stable income while still allowing for composition as a hobby.

– Budgeting for Lifestyle:  The curriculum includes a detailed breakdown of average living costs, such as housing, utilities, and transportation, helping teens understand what income is needed to support their desired lifestyle.

– City and Career Research:  Teens are encouraged to research the cost of living in different cities and the financial implications of various careers, such as choosing between a basic car or a luxury vehicle.

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4. Benefits of Financial Education:
   

– Informed Decision-Making:  By providing a clear picture of living costs and career earnings, teens can avoid making uninformed decisions about their futures.

– Long-Term Preparation:  Engaging in financial planning early helps prevent frustration and financial struggles later in life. It prepares teens for the realities of adulthood and helps them set achievable goals.

Call to Action:

– Watch the Excerpt: Check out the 3-minute excerpt from Charla’s Beyond Personal Finance class to see how it helps teens understand financial planning. https://vimeo.com/997728375/f7eb2b5714?share=copy

– Explore Beyond Personal Finance: Visit https://beyondpersonalfinance.com to learn more about the full curriculum and how it can benefit your teen.

– Subscribe for Weekly Updates: Sign up on our website to receive weekly updates and resources directly to your inbox.

Connect With Us:

You can read more about this (or past topics) on Charla’s blog:  https://beyondpersonalfinance.com/our-blog

To subscribe to the weekly email with links to our podcast and blog, go here:  https://beyondpersonalfinance.com/subscribe-1

To learn more about our unique products designed to increase your children’s understanding of how money works in the real world, go here:  https://beyondpersonalfinance.com/