As your teen prepares to become an adult and take on more responsibilities, you may be wondering what you can do as their parent to help make the move as smooth as possible. Here are some tips to help yours teens in their transition to adulthood.
MAKE THEM WORK
When and if they are able, a teen should get a job so they can start taking care of some of their own expenses. Once they begin working, start delegating some of their finances to them. This can be done over a period of time so it’s not as much as a shock to them.
TEACH MONEY SKILLS
Many high schools don’t require any type of financial literacy class. This means you teenager could be headed off into the real world not knowing how to file taxes, using credit responsibly, or even how to write a check. The older your teen gets, start adding to their financial responsibilities.
DON’T RESCUE THEM
This can be a hard one, especially when you’ve spent most of their lives helping them up and dusting them off each they’ve fallen. While it’s great to be there as a support system, you need to let them start taking the reins to solve their own problems. For example, if they miss a scheduled appointment and are charged a fee, have them pay it. This will encourage them to be more responsible and not miss it next time.
TREAT THEM LIKE AN ADULT
Once your child becomes an adult, there will be a shift in your relationship. If you continue to treat them like a child, there is no incentive to ‘grow up’ and start taking responsibility for their own life. Start holding them to a higher standard when it comes to taking an active role in their finances and other major decisions. Make it very clear what is now their responsibility and what you will still help with.